ROBOTICS AND AUTOMATION
Allied Motion Technologies Inc. | January 03, 2022
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 Spectrum Controls, Inc. (“Spectrum”), an innovator and manufacturer of a wide variety of Industrial I/O and Universal Communications Gateway products. The purchase price was $70 million, of which $45 million was paid at closing with a combination of $27 million in cash and the remainder in the Company’s common stock at a price of $35.82 per share. The remaining $25 million will be paid in two equal payments in 2022 and 2023 comprised of 50% cash and 50% stock.
Spectrum has a long history of innovation, partnership, and customized customer fulfillment, and we are excited to welcome the entire Spectrum team to the Allied family. This acquisition is an excellent strategic fit and provides us with a tremendous opportunity to enhance our position as a value-added solutions supplier to the industrial automation and industrial controls market,” commented Dick Warzala, Chairman and CEO. “In addition, Spectrum enhances our customer base, adds significant engineering resources and has the technology and know-how to provide solutions that meet the system requirements of Functional Safety.
“Allied has built an impressive organization. We believe that given their strong leadership team and their One Allied culture, we have found the ideal partner to successfully execute on the many strategic initiatives and opportunities we have in front of us. We look forward to a bright future together.”
-Bruce Wanta, Founder and President of Spectrum
Mr. Warzala further added, We believe we can drive growth by leveraging Spectrum’s strong partner relationships with large industrial automation companies, utilizing their global distribution channels, and benefiting from the continued digital transformation around IIoT, AI and analytics that are driving the increased use of smart factory floor devices.
In 2022, Spectrum is expected to be accretive to both Allied’s earnings per share and gross margin profile. The acquisition structure includes a tax election that is expected to offset cash taxes by approximately $10 million over the next 15 years.
Founded in 1983 and headquartered in Bellevue, WA, Spectrum designs and manufactures a wide range of highly sophisticated I/O modules, marquee displays, and industrial gateways for broad industrial controls applications through partnerships with PLC manufacturers and distributors. With approximately 72 employees, Spectrum serves large industrial automation projects and specialty applications domestically and throughout the world, including Europe, Asia, the Americas, and the Middle East. For more information visit https://www.spectrumcontrols.com.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision and specialty controlled motion products and solutions used in a broad range of industries within our major served markets, which include Vehicle, Medical, Aerospace & Defense, and Industrial. 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 motion technology. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gear motors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, 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.
Universal Engineering Sciences & GSI Engineering | December 08, 2021
Universal Engineering Sciences® (UES), a national leading engineering and consulting company specializing in geotechnical engineering, construction materials testing, building code compliance, threshold inspections and environmental consulting, has acquired GSI Engineering (GSI), an environmental, geotechnical, drilling and materials testing firm based in Wichita, Kansas, with additional offices in Topeka and Kansas City as well as Grand Island, Nebraska. GSI's 70-person team serves commercial, institutional, and municipal market clients throughout Kansas and Nebraska as well as Iowa, Missouri, Oklahoma, and South Dakota. Significant recent projects include a 1-million square foot Amazon ICT2 warehouse, Schwan Food Company Facility Expansion, Property Redevelopment and Remediation of Crete Carriers property, and the design, construction, and consolidation of smelter waste at an orphan site for the State of Kansas.
GSI joins Geotechnology in the Midwest Division of UES, led by Ed Alizadeh, PE, JD, who will continue serving as both President of the Midwest Division and CEO of Geotechnology. "GSI is a well-run organization, with great people, environmental capabilities, client relationships, and geographically desirable locations," said Ed Alizadeh. "Their highly capable staff complements our team, and together we will achieve our goals to continue to significantly grow the Midwest Division of UES."
GSI Engineering President Chuck Brewer, a Principal Geologist with more than 35 years of industry experience, will continue in his role as President of GSI, reporting to Ed Alizadeh. GSI's existing leadership team will also continue in their roles.
"By joining Universal Engineering Sciences, we now have the ability to serve our existing clients with even greater capabilities as well as new clients across the United States,We are excited to join Geotechnology and UES in their pursuit of growth in the Midwest while continuing to grow our market share in Kansas and Nebraska. The expansion opportunities ahead are numerous, and the ability to further our reach allows us to serve our clients at the highest level, while providing challenging and rewarding career paths for our people."
-GSI Engineering President Chuck Brewer, a Principal Geologist
With nearly six decades of experience and recognition as the premier engineering and consulting firm in the geotechnical engineering space, UES is well-positioned to serve the needs of commercial, residential, and civic customers across the country. Mergers with GFA International, Inc., NOVA Geotechnical & Inspection Services, Contour Engineering, Wallace-Kuhl & Associates, Construction Testing & Engineering, SUMMIT Engineering, Laboratory & Testing, P.C., GEOServices, LLC, McGinley & Associates, Geotechnology, Inc., Alpha Testing, and now GSI Engineering, have made the Universal Engineering Sciences one of the largest, most resource-rich organizations of its kind nationwide.
About GSI Engineering
GSI Engineering was first established in 1973 as a professional geotechnical engineering firm in Omaha, Nebraska. Today headquartered in Wichita, Kansas, GSI continues to provide site-specific geotechnical solutions and has expanded the service line to include environmental and EHS site services. Additional offices include Topeka, Kansas City, and Grand Island, Nebraska. GSI also serves clients in Iowa, Missouri, Oklahoma, and South Dakota. Clients include owners of, and consultants to, the commercial, institutional, and municipal market sectors. For more information, please visit gsinetwork.com.
About Geotechnology, Inc.
Geotechnology provides a comprehensive range of consulting services in applied earth and environmental sciences; exploration; geotechnical engineering; underground consulting services; soils, rock, and construction materials testing; non-destructive testing; special inspections; geophysics and deep foundation testing. They also provide building envelope, occupational health and safety, and building code compliance services. The Geotechnology family of firms has been part of thousands of major construction projects in the Midwest regions and is ranked No. 407 in ENR's Top 500 Design Firms. Based in St. Louis, Missouri, Geotechnology has offices in Missouri, Illinois, Kansas, Ohio, Kentucky, Tennessee, Mississippi and Arkansas. For more information, please visit geotechnology.com.
About Universal Engineering Sciences
Universal Engineering Sciences, headquartered in Orlando, is a privately held, rapidly growing engineering and consulting firm with nearly six decades of experience in geotechnical engineering, construction materials testing, building code compliance, threshold inspections and environmental consulting. UES is considered a pioneer of the industry and stands at the forefront of emerging technology, best practices, and influential legislature. Projects include both public and private clients, ranging from transportation and healthcare to commercial and education. UES engineers, geologists, certified inspectors, and scientists offer an unwavering commitment to excellence, approaching each project as an opportunity to cultivate enduring relationships with clients. BDT Capital Partners is the primary investor in the company.
UES has made a commitment to growing through strategic acquisition and organic growth. With the addition of GSI to the portfolio, UES' presence includes locations throughout the high growth markets in the South, Midwest and West, including Texas, Florida, Georgia, Alabama, North and South Carolina, Metro DC, California, Utah, Nevada, Missouri, Illinois, Kansas, Nebraska, Ohio, Kentucky, Tennessee, Mississippi, and Arkansas.
UES was named number one on the Zweig Group Hot Firm List which honors the fastest-growing firms in the architecture, engineering, planning, environmental and construction (AEC) industry. With nearly 3,100 professionals across 67 branches in nearly 20 states nationwide, UES consults on projects of all sizes to help deliver needed infrastructure and build safe and successful communities. For more information, please visit universalengineering.com or follow UES on Social Media.
TriMech and Javelin | May 06, 2021
TriMech and Javelin Technologies are now one team, expanding 3D design and 3D printing support for designers, engineers, and manufacturers across Canada and the central and eastern United States. Going forward, Javelin will operate as TriMech's Canadian business, referred to as Javelin Technologies, a TriMech Company.
Combining the two companies brings together their shared expertise across every stage of product development, including mechanical and electrical design, simulation and testing, data management, technical communication, and production. The integrated business will continue to provide the full suite of SOLIDWORKS 3D CAD software and 3DEXPERIENCE Works, as well as configure-price-quote automation, process and workflow assessment, in-person and online training, and engineering and implementation services.
The blended expertise of TriMech and Javelin will offer clients additive manufacturing technologies and services that are unmatched in North America. Together they will continue to sell and support Stratasys 3D printers, metal 3D printers, post-processing equipment, and 3D laser scanners and help clients meet stringent requirements for prototypes, tooling, end-use parts, and low-volume manufacturing. In their collective advanced manufacturing and rapid prototyping labs, more than 70 3D printers are available for clients who need quick turnaround on quality printed parts and tools.