PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Morgenthaler Private Equity sells Avtron Industrial Automation

Morgenthaler Private Equity (MPE) has sold Avtron Industrial Automation (AIA), a provider of highly engineered control and automation solutions, to Nidec Corporation. 

 

AIA’s products and systems are key components for the precise control of the motion of heavy industrial equipment in applications such as oil and gas drilling rigs, port cranes and hoists, mining shovels and draglines, maritime vessel propulsion systems, steel rolling mills, and paper machines.

Terms of the transaction have not been disclosed.

Dennis Anderson, president of AIA, says: "AIA will strengthen Nidec’s industrial motor business in North America. In particular, AIA’s rich engineering resources and customer relationships will enhance Nidec’s ability to deliver exceptional industrial solutions to attractive, growing markets.  In addition, I personally want to thank MPE for its partnership and strategic advice as we collectively built the company into a world class organisation."

AIA was one of three companies owned by Avtron Holdings. In March 2012, Avtron Loadbank was sold to Emerson. Avtron Aerospace was not part of this transaction and will continue to operate under Avtron and be owned by MPE. MPE originally acquired Avtron in November 2007.

Peter Taft, chairman of Avtron and partner at MPE, says: "In partnership with management, we implemented many growth and operational improvement initiatives, including accelerating new product development, expanding into new end markets and geographies, improving manufacturing and supply chain efficiencies, and broadening capabilities through a key acquisition. On behalf of Karen Tuleta, Matt Yohe, and Constantine Elefter of MPE, as well as Rich Garcia of Avtron, it has been a pleasure working with Dennis Anderson and the rest of the very talented management team at AIA. Although the company has achieved many successes to date, it is in the early stages of exploiting its full potential."
 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured