This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nidec To Acquire Kinetek Group Inc. And Avtron Industrial Automation Inc.

Avtron is also expected to serve as a sales channel in North America for ASI's drives, motors/generators, and automation systems.  With these products supplementing Avtron's value-added industrial encoder products and drive system solutions and NMC's motor products, the Company expects to be able to provide full-range of products and solution services to Avtron's core markets comprised of the energy, crane, metal, marine, and forest products industries in North America.

(1) Information on Avtron  
Company Name: Avtron Industrial Automation, Inc.
Headquarters: Independence, Ohio, United States
Year of Establishment: 1953
Principal Places of Business: 2 facilities in Ohio
Principal Businesses:  Highly engineered control, automation, and drive-systems solutions provider for heavy industries and manufacturer of harsh-duty encoders for uptime-critical applications
Employees: 154
Sales in Fiscal Year 2011: US$33 million
Assets as of December 31, 2011: Current Assets: US$13 million
  Fixed Assets: US$9 million
(2) Overview of Acquisition of Avtron  
Consideration: The consideration for the transaction is expected to be paid in cash.
Method of Settlement and Financing: The transaction is expected to be funded by cash on hand and/or debt financing (but there is no plan for capital increase).
Transaction Structure: Hold Co. is expected to acquire 100% of the shares in Avtron.
Transaction Schedule:  The closing of the transaction is currently expected to be completed in late September 2012, subject to required regulatory approvals and other factors.
(3) Information on the Seller  
Name: Morgenthaler
Address: Cleveland, Ohio, United States
Representative: Morgenthaler Private Equity (Peter Taft)
Type of Business: Management of private equity funds
Founded: 1968
Relationship between the Company and the Seller:   None of the Company and its affiliates has any direct or indirect investments in Morgenthaler. In addition, no capital, personnel or business relationship exists between any of the Company or its affiliates and the investors of Morgenthaler (including its sponsors).

4. Effect on Financial Performance for the Current Fiscal Year

The Company intends to make appropriate disclosure of the impact of the transactions described herein on the Company's consolidated financial performance for the current fiscal year and announce any changes to our financial performance forecasts in accordance with the applicable rules of the Japanese securities exchanges once details are determined.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.27 -0.76%
FB $101.00 1.47%
GOOG $684.12 0.89%
TSLA $143.67 -3.09%
YHOO $27.10 1.04%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs