Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, has agreed to acquire Globe Motors, Inc. from Safran USA, Inc., on a cash-free, debt-free basis, for $90 million in cash.
Globe Motors, Dayton, OH, recorded sales of $106 million in 2012 and has more than 500 employees worldwide. It has operations in Dothan, AL; Reynosa, Mexico; and Oporto, Portugal. Globe provides customized motion solutions.
“Strategically, Globe fits very well with our company, as it creates critical mass and expands our global reach while providing the opportunity for us to leverage the combined technology/know-how, sales and marketing channels, material sourcing and production capabilities/footprint of both companies," said Dick Warzala, president and CEO of Allied Motion. "While there is some overlap in technology and in the customer base, the companies are very complementary to each other and will provide additional market diversification and cross-selling opportunities for the combined entity in the future."
