Mergers and Acquisitions

Motion, Moley, Missouri, and more

Recent activity merits an update on the business front of the electromechanical and manufacturing industries. If you’re allergic to links, please back away from the screen carefully or proceed at your own risk.

Moley Magnetics has seen rapid growth from its origins as an electric motor repair shop in 1991. This continued with the announcement that the company plans to make good on its original pledge to bring back 40 jobs to the local Niagara County area, where it recently purchased new property after receiving a land grant. Lockport, outside of Buffalo, NY, is home to its new industrial park, and Moley executives have confirmed the company will be returning the originally outsourced jobs to that area by 2020. The jobs had been displaced to Italy. “Bringing this production back to New York is an important priority for Moley Magnetics. We look forward to expanding in Lockport, adding jobs and continuing to provide the best quality customer service possible,” stated John Moley, President of Moley Magnetics Inc., in a press release.

UQM Technologies, Inc. (Longmont, Colo.) will enter a collaboration with New Eagle, a vehicle integrator and supplier of hybrid and electric drive control system technologies and hardware, the companies announced in a press release last week. UQM and New Eagle are seeking to satisfy a growing market demand for integrated electric drivetrain solutions for electric vehicles as well as electric marine propulsion solutions. This is intended to offer customers a turnkey solution for their EV or HEV applications in a number of key markets. New Eagle is based in Ann Arbor, Michigan.

Finland-based Metso has established Integrated Power Services (IPS), of Greenville, S.C., as the service provider for its customers in the metal recycling industry in North America. The partnership allows Metso to provide a wide scope of services for metal processing equipment, including motor repair, rebuild and warehousing services, according to the company. IPS provides electric motor repair, engineering and maintenance services for continuous process industries, including nuclear power, wind power, hydro power, fossil power, metal recycling, petrochemical, mining and paper. With 25 locations serving the United States and Canada, IPS can repair and remanufacture AC and DC electric motors, electric generators and mechanical components, such as gearboxes, reducers, pumps, fans and compressors.

Not to be outdoneMotion Industries made two recent acquisitions when it announced last Wednesday that it would be picking up Missouri Power Transmission, of St. Louis; and this Monday the addition of Epperson and Co., a Tampa, Fla.-based supplier of bulk material conveying products and services founded in 1932. MPT is a PT equipment and industrial supplies distributor, providing a range of products that includes bearings, seals, electric motors and controls since 1970. Motion is the industrial arm of Genuine Parts Co., which also includes EIS – another company that is anticipating moves in the near future – according to recent hints from Genuine Parts Co. Chairman and CEO Thomas Gallagher.

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