Allied Motion Technologies Inc. (Nasdaq: AMOT), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, says it has acquired FPH Group, a developer of electrical drive systems and light weighting technologies for existing and future ground-based vehicles in the defense industry.
“This acquisition is an excellent strategic fit as it provides us with a deeper penetration within defense applications including the necessary manufacturing licenses and certifications, which is a key end market focus for Allied. FPH has a proven relationship with leading defense prime contractors, which we believe we can leverage for future modernization designs as we combine Allied’s scale and defense solutions with FPH’s knowledge base of electrical, mechanical, fluid dynamics and composite technologies,” said Dick Warzala, chairman and CEO. “In addition, FPH is expected to be accretive to both Allied’s margin profile and earnings per share in the first year. We are very excited about our potential together and we welcome the entire, very capable FPH team to the Allied family.”
Financial terms of the transaction were not disclosed.