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Monday, Jun 5, 2023

NTS Shareholders Approve Merger

Shareholders of National Technical Systems approved Tuesday a merger with private investment firm Aurora Capital Group. The merger between the Calabasas engineering and test services company and the Los Angeles investment firm is valued at about $267 million and expected to close Nov. 22. National Technical will be a subsidiary of Aurora Capital. On Nov. 19 at a special shareholder meeting, 99 percent of the shares represented in person or by proxy voted in favor of the merger. The shareholders also approved a non-binding advisory measure on compensation paid to executive officers in connection with the deal. National Technical provides testing and engineering services for the aerospace, defense and transportation industries at facilities throughout the United States, including a 150 acre site in Santa Clarita. Shares closed up 3 cents, or 13 percent, to $22.99 on the Nasdaq exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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