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Analogic buys Copley Controls for $69m

30 March, 2008

The US-based Analogic Corporation is buying the motion controls manufacturer Copley Controls, for around $69m in cash, and up to $1.8m more to reimburse Copley shareholders for the tax consequences of the transaction. Privately owned Copley will become a wholly owned subsidiary of Analogic.

Copley’s portfolio includes the ThrustTube and ServoTube tubular linear motors business, based in Essex, UK, that Copley acquired when it bought the former Linear Drives Ltd from receivership in early 2002.

Copley motor

However, Analogic’s main interest is thought to be in Copley’s gradient amplifiers for magnetic resonance imaging (MRI) applications. Analogic manufactures RF (radio frequency) amplifiers for MRI systems.

Analogic may therefore decide to sell the motion controls business and one potential purchaser would be Parker Hannifin, which already sells versions of the ThrustTube motors badged with its own name. As well as the linear motors, Copley’s motion control portfolio includes servo amplifiers.

Copley, founded in 1984, has its headquarters in Massachusetts, and employs about 250 people worldwide. Its 2006 revenues were $73.6m and its estimated revenues for last year were $83m. Analogic reckons that revenues from the acquisition for the current calendar year will be more than $85m.

"This is a very important step forward for Analogic as we augment organic growth with ‘good fit’ acquisitions that complement our core businesses," says Analogic president and chief executive, Jim Green. "Our acquisition of Copley Controls combines two companies with strong engineering resources focused on high-value precision systems.

"The addition of Copley, with its leading-edge technology in high-field gradient amplifiers and its solid customer base," he adds, "will enable Analogic to expand our product offerings to our OEM customers, open up new opportunities in Asia, and enhance our position as a leading provider of medical subsystems for MRI scanners."

"Joining Analogic is a natural fit for us," comments Copley Controls’ president, Matthew Lorber. "The blending of our companies and technologies will benefit both our customers and Analogic’s. Copley’s products complement Analogic’s existing products and customer base. Our top-of-the-line systems and talented engineering team, combined with Analogic’s excellent reputation in the industry, its advanced technology, and well-established market presence, will create new business opportunities."

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