AMHERST, N.Y.– 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.
