AMHERST, N.Y.--(BUSINESS WIRE)--Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or the “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, announced that it has acquired Airex, LLC, a privately-owned company with over 70 years of history providing high precision electromagnetic components and solutions for aerospace/defense, life sciences, semiconductor and other commercial industrial applications. Airex’s patented winding technology combined with robotic manufacturing assures best-in-class quality linear motors – ironless and iron core, rotary motors, voice coils, wound electromagnetic components and sub-components.
“This acquisition is another excellent addition and strategically expands our motor offerings as it brings decades of materials understanding, engineering and lean manufacturing experience focused on providing quick-turn response times and custom solutions to our customers. From a product line perspective, Airex linear motors are the 'Best-in-Class' as they provide the highest torque density in the industry and have been selected and utilized in our Alio solution offerings for many years. Equally important, Airex has developed world-class quality systems to support broad mission critical defense programs and other high demanding industries such as life sciences and semiconductor,” commented Dick Warzala, Chairman and CEO. “We are excited about adding Airex’s proven track record and team to the Allied family.”
Lindsay Badger, Managing Partner of Airex, stated, “Airex has always been about developing new, high performance and high quality technology for diverse applications. Combining our core competencies with Allied’s, will help support our long-standing customer base in the years ahead and will provide a larger platform upon which to grow.”
Established in 1950, Airex is a third generation-owned company headquartered in Somersworth, NH. Throughout its history, Airex has a proven track record of achievement with industry leading partners on leading military and commercial programs. A key to Airex’s success is its engineering design capabilities for magnetic components that are often critical for multiple technologies applicable across many growth end markets.
Airex is expected to be accretive to both Allied’s margin profile and earnings per share in the first year. Financial terms of the transaction were not disclosed.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision controlled motion products and solutions used in a broad range of applications within the Vehicle, Medical, Aerospace & Defense, Electronic, and Industrial Markets. Headquartered in Amherst, NY, the Company has global operations and sells into markets across the United States, Canada, South America, Europe and Asia-Pacific.
Allied Motion is focused on controlled motion applications and is known worldwide for its expertise in electro-magnetic, mechanical, and electronic controlled motion technologies. Its products include nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor-drives, gear motors, gearing, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, Industrial safety rated I/O Modules, Universal Industrial Communications Gateways and other controlled motion-related products.
The Company’s growth strategy is focused on being the controlled motion solutions leader in its selected target markets by leveraging its “technology/know how” to develop integrated precision solutions that utilize multiple Allied Motion technologies to “change the game” and create higher value solutions for its customers. The Company routinely posts news and other important information on its website at www.alliedmotion.com.
Safe Harbor Statement
The statements in this news release that relate to future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements. Examples of forward-looking statements include, among others, statements the Company makes regarding its ability to realize the potential benefits of the Airex acquisition and to successfully integrate its operations; expected rates of growth and capturing market opportunities. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of the Company’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the impact of changes in income tax rates or policies, the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations and personnel, and on commercial activity and demand across our and our customers’ businesses, and on global supply chains; our inability to predict the extent to which the COVID-19 pandemic and related impacts will continue to adversely impact our business operations, financial performance, results of operations, financial position, the prices of our securities and the achievement of our strategic objectives, the ability to attract and retain qualified personnel, the ability to successfully integrate an acquired business into our business model without substantial costs, delays, or problems, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict the occurrence of those matters or the manner in which they may affect us. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.
