Allied Motion Acquires ALIO Industries, a Global Leader in Nano Precision Motion Control Solutions
05 November 2021 - 12:30AM
Business Wire
Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion”
or the “Company”), a designer and manufacturer of precision and
specialty controlled motion products and solutions for the global
market, announced today that it has acquired ALIO Industries
(“ALIO”), an innovator and manufacturer of advanced linear and
rotary motion systems for nano-precision applications. The purchase
price of $20 million consisted of $15 million in cash and $5
million in Allied common stock. Additionally, there are potential
earn-out payments over the next 3 years based upon ALIO achieving
certain annual EBITDA targets.
“ALIO is well recognized for their technology/know-how and
expertise in nanometer level positioning, and we are very excited
to add such high precision positioning and robotic technology
solutions to our already powerful portfolio of motion solution
offerings. Equally important is ALIO’s culture and passion for
innovation, customer service and product quality, all traits that
align well with what we have built at Allied. We expect that the
business can grow rapidly as we leverage our joint channels to
market and bring scale to their operations,” commented Dick
Warzala, Chairman and CEO.
Founded in 2001 and headquartered in Arvada, CO, ALIO designs,
engineers, and manufactures nano technology motion systems for
state-of-the-art applications in silicon photonics, micro assembly,
digital pathology, genome sequencing, laser processing and
microelectronics. Their expansive product line includes the
patented Hybrid Hexapod®, which provides for 6 axis point precision
repeatability, air bearing systems, linear and rotary
nano-precision systems (with both mechanical and air bearings
guides), and systems customized for atmospheric, clean room, and
ultra-high vacuum environments.
Bill Hennessey, President of ALIO, stated, “Joining with the
Allied team creates a solid foundation and a great complementary
combination to generate accelerated growth in the future. We
embrace the One Allied culture and on behalf of our entire company,
we look forward to a great partnership moving forward”.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells
precision and specialty controlled motion products and solutions
used in a broad range of industries within our major served
markets, which include Vehicle, Medical, Aerospace & Defense,
and Industrial. Headquartered in Amherst, NY, the Company has
global operations and sells into markets across the United States,
Canada, South America, Europe and Asia-Pacific.
Allied Motion is focused on controlled motion applications and
is known worldwide for its expertise in electro-magnetic,
mechanical and electronic motion technology. Its products include
brush and brushless DC motors, brushless servo and torque motors,
coreless DC motors, integrated brushless motor-drives, gear motors,
gearing, modular digital servo drives, motion controllers,
incremental and absolute optical encoders, active (electronic) and
passive (magnetic) filters for power quality and harmonic issues,
and other controlled motion-related products.
The Company’s growth strategy is focused on being the controlled
motion solutions leader in its selected target markets by
leveraging its “technology/know how” to develop integrated
precision solutions that utilize multiple Allied Motion
technologies to “change the game” and create higher value solutions
for its customers. The Company routinely posts news and other
important information on its website at www.alliedmotion.com.
Safe Harbor Statement
The statements in this news release that relate to future plans,
events or performance are “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate, or imply future
results, performance, or achievements. Examples of forward-looking
statements include, among others, statements the Company makes
regarding its ability to realize the potential benefits of the ALIO
acquisition and to successfully integrate its operations; expected
rates of growth and capturing market opportunities. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on the Company’s current
beliefs, expectations and assumptions regarding the future of the
Company’s business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of the Company’s control. The Company’s actual
results and financial condition may differ materially from those
indicated in the forward-looking statements. Therefore, you should
not rely on any of these forward-looking statements. Important
factors that could cause our actual results and financial condition
to differ materially from those indicated in the forward-looking
statements include, among others, general economic and business
conditions, conditions affecting the industries served by the
Company and its subsidiaries, conditions affecting the Company's
customers and suppliers, competitor responses to the Company's
products and services, the overall market acceptance of such
products and services, the pace of bookings relative to shipments,
the ability to expand into new markets and geographic regions, the
success in acquiring new business, the impact of changes in income
tax rates or policies, the severity, magnitude and duration of the
COVID-19 pandemic, including impacts of the pandemic and of
businesses’ and governments’ responses to the pandemic on our
operations and personnel, and on commercial activity and demand
across our and our customers’ businesses, and on global supply
chains; our inability to predict the extent to which the COVID-19
pandemic and related impacts will continue to adversely impact our
business operations, financial performance, results of operations,
financial position, the prices of our securities and the
achievement of our strategic objectives and other factors disclosed
in the Company's periodic reports filed with the Securities and
Exchange Commission. Any forward-looking statement speaks only as
of the date on which it is made. New risks and uncertainties arise
over time, and it is not possible for us to predict the occurrence
of those matters or the manner in which they may affect us. The
Company has no obligation or intent to release publicly any
revisions to any forward looking statements, whether as a result of
new information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211104005802/en/
Investor: Deborah K. Pawlowski Kei Advisors LLC Phone:
716-843-3908 Email: dpawlowski@keiadvisors.com
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