Allied Motion Technologies acquires Airex
Allied Motion Technologies, a designer and manufacturer of precision and specialty controlled motion products, has acquired Airex, LLC, a privately-owned company providing high precision electromagnetic components and solutions.
"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," says Dick Warzala, Allied Motion's Chairman and CEO in a press release.
Established in 1950, Airex is headquartered in Somersworth, New Hampshire. Airex is expected to be accretive to both Allied’s margin profile and earnings per share in the first year.
“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,” says Lindsay Badger, Managing Partner of Airex.
Financial terms of the transaction were not disclosed.