Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Spectrum Controls, Inc. (“Spectrum” or the “Company”), a leading provider of industrial controls and automation products that serve a variety of end markets.
Founded in 1983, Spectrum has long been a leading designer and manufacturer of industrial automation products such as I/O modules, universal gateways, industrial displays, and other offerings enabling digital and analog connectivity for manufacturing lines and industrial centers. The Company has established deep relationships with the largest and most well-known industrial automation companies and is an integral partner providing renowned brand name products, as well as private label branded products across the industry. This coupled with Spectrum’s strategic focus on innovation and R&D has facilitated the Company’s endured growth and will continue to serve as major strengths post acquisition.
Allied Motion Technologies Inc. (NASDAQ: AMOT) (“Allied”) is a global market leader in advanced motion control and drive products focused on the vehicle, aerospace & defense, healthcare, robotics, and automation end markets. Allied went public in 1962 and has over 20 locations worldwide. They are heavily involved in many Industry 4.0 technologies such as robotics, healthcare tech, Industrial IoT (“IIoT”), and automated machinery. Allied was a compelling strategic acquirer of Spectrum due to their complementary product offerings. Together, both companies will benefit from cross sales to a larger customer base.
“Allied will drive further growth by leveraging Spectrum’s strong global partnerships with large industrial automation companies, utilizing their global distribution channels, and benefit from the continued digital transformation around IIoT, AI and analytics that are driving the increased use of smart factory floor devices,” said Dick Warzala, Chairman and CEO of Allied.
“I am very excited that Spectrum will be joining the Allied team. The synergies that our businesses have are tremendous, and I believe that leveraging the strengths of each company will drive outsized growth and success. Allied’s longstanding history and leadership in the industry was a very important consideration. Additionally, our partners remain one of our most important assets. As we serve end markets worldwide with Allied’s global footprint, we will provide tremendous value to our combined customers,” added Bruce Wanta, President of Spectrum.
“We are very pleased with the outcome of this partnership between two strategically aligned companies working to build cutting edge industrial products and are looking forward to seeing the benefits of their combined innovation and customer expansion,” added Jamie Boyd, Managing Director at Cascadia Capital.
Yee Lee, Senior Vice President at Cascadia Capital added, “Industry 4.0 remains a rapidly growing theme and companies such as Spectrum are the foundation to the digital transformation shift that enables IIoT, AI and analytics, and will drive further applications for predictive maintenance, condition monitoring and others.”
For more information about this transaction, please the contact Cascadia Capital deal team:
Senior Vice President