Safran has sold Globe Motors to Allied Motion Technologies
Lincoln International, a leading global mid-market investment bank, announced that Safran SA (ENXTPA:SAF) has signed a definitive agreement for the sale of Globe Motors, Inc. to Allied Motion Technologies, Inc. (NASDAQ:AMOT) for approximately $90 million in cash, on a cash free and debt free basis. Lincoln International acted as the exclusive financial advisor to Safran SA and Globe Motors, Inc. The transaction, which is subject to customary closing conditions, including regulatory approvals and completion of financing documentation, is expected to close within the next 60 days.
Based in Dayton, Ohio with additional operations in Alabama, Portugal and Mexico, Globe Motors is a leading developer and manufacturer of customer-specific motion control solutions for a variety of end markets, including specialty vehicle, military, aerospace and automotive. Globe Motors specializes in customized, fractional horsepower DC motor technology designed to serve a variety of niche applications.
Lincoln International worked closely with the senior management teams of Safran SA and Globe Motors, throughout the sale process, including providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction. Hélène de Cointet, Director M&A at Safran SA, praised the efforts of Lincoln’s integrated advisory team led jointly from Paris and Chicago, “Lincoln has been critical in ensuring the successful outcome of this complex transaction, involving operations in three countries over two continents.”
Safran SA is leading international high-technology group with three core businesses: aerospace, defense and security. Operating worldwide, the Group has 62,500 employees and generated sales of €13.6 billion in 2012.
About Allied Motion Technologies
Headquartered in Amherst, New York, Allied Motion designs, manufactures and sells motion control products into applications that serve many industry sectors. Allied Motion is a leading supplier of precision and specialty motion control components and systems to a broad spectrum of customers throughout the world.
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