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Motion control manufacturer Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, has acquired Wisconsin-based manufacturer TCI, LLC, for $64.1 million. The purchase price was funded with existing cash plus borrowings under the company’s revolving credit facility, the company said.
TCI makes products that monitor and improve power quality and extend motor life by reducing harmonic distortion associated with variable frequency drives (VFDs) and other power conversion equipment. The company has about 165 employees and expects 2018 revenues of approximately $45 million.
The acquisition strengthens Allied Motion’s overall position in the controlled motion market, the company said.