Matthews discloses price of $24.5M plus considerations for Pyramid

Matthews International previously announced the acquisition of Pyramid Controls and its affiliate, Pyramid Control Systems, a provider of warehouse control systems and conveyor control solutions for distribution centers. Matthews disclosed in a regulatory filing that the initial purchase price for the transaction was approximately $24.5M, plus potential additional consideration based on future operating results. Pyramid reported sales of $18M in CY11 and has approximately 50 employees, Matthews said.