- Allied Motion (NASDAQ:AMOT) is buying Heidrive, a German developer of synchronous motion systems (inc. motors, gears, and electronic controls), for €20M ($22M) in cash. The deal is expected to close in early Q1, and will be partly financed through a credit facility whose size has been doubled to $30M.
- Heidrive is expected to post 2015 revenue of $32M (+8% Y/Y), and have year-end assets of $11M. Thus, Allied Motion is paying 0.7x trailing sales.
- Allied Motion: "Given their customized nature, [Heidrive's] products are used in a broad range of applications from medical technology and robotics to cargo aviation and building technologies, as well as a variety of commercial applications ... The addition of Heidrive furthers our growth strategy, enabling us to expand our geographic reach and broaden our product and technical capabilities."