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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211104005802/en/
Deborah K. Pawlowski
Kei Advisors LLC