Allied Motion acquires TCI for USD 64m

Allied Motion Technologies Inc. (NASDAQ: AMOT), a New York-based motion products manufacturer, has announced it has acquired Wisconsin-based TCI, LLC, a manufacturer of electronic and magnetic products as solutions for power conversion, for USD 64.1m, the company said.

Allied Motion said TCI broadens and strengthens its position as a solutions provider in the controlled motion market. TCI´s adjacent technologies and capabilities enable more efficient and longer life solutions for motion devices in a wide variety of demanding applications.

Cleary Gull Inc. served as the exclusive financial advisor to TCI, LLC.

Allied Motion Technologies Inc. designs, manufactures and sells precision and speciality controlled motion components and systems used in a broad range of industries within major served markets, which include aerospace and defense, vehicle, medical and industrial.

TCI designs and manufactures products that monitor and improve power quality and extend motor life by reducing harmonic distortion associated with variable frequency drives and other power conversion equipment. With approximately 165 employees, TCI´s manufacturing capabilities include magnetic and electronic product assembly expertise to support a broad suite of power quality solutions that are used in oil and gas, HVAC, water and wastewater, and general industrial end markets primarily in the US.