October 31, 2014
We are pleased to announce that our client Paine Electronics, a manufacturer of premium pressure sensors and transducers based in Wenatchee, WA, has been acquired by Emerson (NYSE: EMR), a global leader providing innovative manufacturing and technology solutions for customers in industrial, commercial and consumer markets around the world. Cascadia served as the exclusive financial advisor to Paine Electronics.
Since 1951, Paine Electronics has manufactured pressure and temperature sensors designed for long-term stability, accuracy and reliability in physically harsh environments. Earlier this year, Paine opened a new research and development center that offers advanced design capabilities as well as simulation and testing facilities. Paine has more than 100 employees and manufacturing facilities in East Wenatchee and Renton, Washington.
Paine Electronics will become part of Emerson Process Management. Both companies are excited about the synergies and opportunities for global business growth.
“The Cascadia team worked with us over a period of two years, regularly providing us market insight and data points to decide the right point to optimize our deal versus just get it done,” said the owner of Paine Electronics. “While delivering a compelling value for shareholders they, more importantly, were careful to also ensure the transaction accomplished my personal goals to take care of my employees, keep the company rooted in our community, and find the right long term steward of the business.”
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