Advanced Energy Acquires Excelsys Technologies, Strengthening its Specialty Power Portfolio
July 05 2017 - 8:00AM
Advanced Energy Industries, Inc. (NASDAQ:AEIS), a global leader in
precision power, today announced it has acquired Excelsys Holdings
Limited (Excelsys), a privately held company based in Cork,
Ireland. Excelsys designs and manufactures high efficiency and
highly reliable power supplies for a variety of industrial markets.
Its modular and user-configurable technology brings new and
differentiated capabilities to Advanced Energy’s existing product
portfolio. This new product line allows Advanced Energy® (AE®) to
expand its addressable market ─ offering new applications and
serving a larger worldwide customer base.
"Today's acquisition of Excelsys is part of our ongoing strategy
to grow and diversify our industrial business by adding new power
products and applications to our robust portfolio,” said Yuval
Wasserman, President and CEO. "With a complementary platform of
electronic power supplies for mission-critical applications,
Excelsys joins our Specialty Power organization ─ increasing our
presence in new areas within medical equipment, metrology, lasers
and general industrial applications.”
“We are excited to join Advanced Energy, a global leader in
precision power conversion,” said Gary Duffy Excelsys leader and
former CEO. “Through the combined companies, our customers will now
have access to a host of additional value-added products and
services as we work together to expand Advanced Energy’s leading,
competitive position worldwide and maintain the high levels of
reliability and customer service.”
Under the terms of the agreement, Advanced Energy has acquired
Excelsys in an all-cash transaction for 15.5 million Euros.
Excelsys’ 2016 audited revenues were 10.2 million Euros and the
acquisition is expected to be immediately accretive to earnings.
Further transaction terms were not disclosed.
About Advanced Energy
Advanced Energy (NASDAQ:AEIS) is a global leader in innovative
power and control technologies for high-growth, precision power
solutions for thin films processes and industrial applications.
Advanced Energy is headquartered in Fort Collins, Colorado, with
dedicated support and service locations around the world. For more
information, go to www.advanced-energy.com.
About Excelsys
Excelsys Technologies is a leading designer and manufacturer of
Modular Configurable Electronic Power Supplies for mission critical
applications in the global medical, industrial, military and
communications markets.
Forward-looking Language
Certain statements in this press release, including, without
limitation, statements regarding the future business, operating and
financial condition of Excelsys and its products are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements are subject to known and
unknown risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such
statements. Such risks and uncertainties include, but are not
limited to: the successful integration of the operations and
products of Excelsys; expectations surrounding the benefits of the
Excelsys products; the retention of key employees; the total
available market for Excelsys products worldwide; expectations
regarding sales performance of the Excelsys products; expectations
surrounding Excelsys manufacturing model; as well as the effects of
global macroeconomic conditions upon demand for such products.
These and other risks are described in Advanced Energy's Form 10-K,
Forms 10-Q and other reports and statements filed with the
Securities and Exchange Commission. These reports and statements
are available on the SEC's website at www.sec.gov. Copies may
also be obtained from Advanced Energy's website
at www.advanced-energy.com or by contacting Advanced
Energy's investor relations at (970) 407-6555. Forward-looking
statements are made and based on information available to the
company on the date of this press release. As reiterated
previously, aspirational goals and targets discussed on conference
calls or in the presentation materials should not be interpreted in
any respect as guidance. The company assumes no obligation to
update the information in this press release.
For more information, contact:
Tom Liguori
Advanced Energy Industries, Inc.
(970) 407-6570
Tom.Liguori@aei.com
Annie Leschin
Advanced Energy Industries, Inc.
(970) 407-6555
ir@aei.com
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