On June 8, 2026, Novanta Inc. entered into an Equity Purchase Agreement to acquire Runway Buyer, LLC from Runway Midco, LLC for $1.2 billion in cash, with an additional $250 million milestone payment due by January 8, 2027. The transaction is financed via cash on hand, existing credit facilities, and a new equity issuance. To support the acquisition, the company amended its credit agreement with Bank of America, N.A., increasing the permitted consolidated leverage ratio to 4.00:1.00 or 4.50:1.00 for four quarters following the acquisition and decreasing the permitted consolidated fixed charge coverage ratio to 1.00:1.00. Novanta Inc. provides precision instrumentation and photonic components for the medical and industrial markets.
