Advanced Energy Acquires High Voltage Power Company
February 01 2018 - 8:30AM
Advanced Energy Industries, Inc. (Nasdaq:AEIS), a global leader in
precision power, today announced it has acquired privately-held
Trek Holding, Co. Ltd. (“Trek”), located in Tokyo, Japan and
Lockport, New York. Trek’s comprehensive portfolio of power supply
products strengthen and accelerate Advanced Energy’s growth in high
voltage applications.
"Today's acquisition is part of our strategic initiative to grow
our Industrial business,” said Yuval Wasserman, president and CEO.
"Trek is our third acquisition of high-voltage products ─ adding to
our Specialty Power product offerings and expanding our global
organization and addressable market.”
Trek’s standard and custom OEM, high voltage power supplies and
electrostatic measurement tools are used in semiconductor,
aerospace, automotive, medical, defense, PV solar and test and
measurement applications.
Under the terms of the agreement, Advanced Energy acquired the
company in all-cash transaction for approximately $12 million. With
2017 revenue of approximately $20 million, this 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.
Advanced Energy and the Advanced Energy logo are trademarks of
Advanced Energy Industries, Inc. or one of its Affiliates in the
United States and elsewhere.
About Trek Holding Co., Ltd.
Trek designs, manufactures and sells high-voltage amplifiers,
power supplies & generators, high-performance electrostatic
measurement instruments and electrostatic discharge (ESD) sensors
& monitors to the global marketplace. Trek's standard and
custom-OEM products are used in industry and research in aerospace,
automotive, electronics, electrostatics, materials, medical,
military, nanotechnology, photovoltaic/solar, physics, plasma,
semiconductor and test & measurement applications. For more
information, go to www.trekinc.com.
For more information, contact:
Tom McGimpseyAdvanced
Energy Industries, Inc.(970) 407-6326tom.mcgimpsey@aei.com |
Annie LeschinAdvanced
Energy Industries, Inc.(970) 407-6555ir@aei.com |
Forward-looking Language
Certain statements in this press release, including, without
limitation, statements regarding the future business, operating and
financial condition of Trek 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 Trek;
expectations surrounding the benefits of Trek products; the
retention of key employees; the total available market for Trek
products worldwide; expectations regarding sales performance of
Trek products; expectations surrounding the Trek 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.
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