FORT COLLINS, Colo., Feb. 01, 2018 (GLOBE NEWSWIRE) -- 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.
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Advanced Energy Industries, Inc.
Advanced Energy Industries, Inc.
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.
Source:Advanced Energy Industries, Inc.