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Allied Motion buys Globe for $90m to double in size

23 August, 2013

Allied Motion Technologies is buying the US motor manufacturer Globe Motors on a cash-free, debt-free basis from Safran USA, for around $90m in cash.

Globe Motors, founded in 1940, employs more than 500 people worldwide and has its headquarters in Dayton, Ohio, with other in operations in Alabama, Mexico and Portugal. In the year ended December 31, 2012, it recorded revenues of about $106m. Its current owner is the French aerospace group, Safran. Globe is part of its Aircraft Equipment activities.

Globe specialises in sub-fractional horsepower motors and its portfolio includes AC and DC motors, gearmotors, axial blowers and cooling fans. Its target markets include the industrial, automotive and military/aerospace sectors. Globe has a subsidiary called Electrowind that produces automated stator-winding equipment.

“Globe Motors has a solid financial track record that will be accretive to our earnings and will also more than double the size of Allied Motion in terms of revenues,” says Dick Warzala, president and CEO of Allied Motion.

“Strategically, Globe fits very well with our company,” he adds, “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. 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.

Items from Globe Motors' product portfolio

“We are enthusiastic about the prospects of our company and confident that the utilisation of Allied Systematic Tools will lead us to continuous improvements in quality, delivery, cost and innovation and will create significant value in the future for all stakeholders of both Globe and Allied,” Warzala says.

Allied Motion Technologies, headquartered in Amherst, New York, is a $102m-revenue business that designs, manufactures and sells motion control products for the commercial, industrial, and aerospace and defence markets.

The acquisition of Globe Motors is expected to close within 60 days and is subject to regulatory approvals and to the completion of the financing documentation.

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