Cambridge, ON - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an industry-leading automation solutions provider, today announced it has entered into a definitive agreement to acquire SP Industries, Inc. ("SP"), a designer and manufacturer of high-grade biopharma processing equipment, life sciences equipment, and lab apparatus products for US$445 million (~C$550 million), subject to customary post-closing adjustments, representing 15.3x SP's trailing 12 month adjusted EBITDA or 11.9x post synergies(1).

SP Industries (SP) announces the launch of its new SP Genevac EZ-2 4.0 Benchtop Evaporator series for the fast, safe and environmentally-friendly removal of all commonly used solvents and acids. Very versatile, it is capable of drying, concentrating, lyophilizing – to a ‘fluffy’ powder - and even producing crystals! The new EZ-2 4.0 centrifugal evaporator makes evaporation effortless, even for the less experienced user. Operators can simply load, set and walk away without any need for specialized training.

SP Scientific Products (SP) announces a new approach to product packaging as part of its global rebrand initiative and continuous improvement approach. The new task-specific packaging is designed to enhance productivity, alleviate labor costs, and reduce environmental impact. As part of SP's continuous improvement approach to deliver orders to customers faster, the new packaging has reduced packing time from 30 minutes for one set of accessories to just 30 seconds.