Aalberts Industries N.V. has reached an agreement to acquire 100% of the shares of Ushers Machine & Tool Co., Inc. (Ushers) with locations in Round Lake, NY, Sunapee, NH and Greenville, SC. Ushers generates an annual revenue of approximately USD 40 million and will strengthen the position of Industrial Services in the power generation end market.
Ushers services the OEM in the power generation end market directly with several high grade technologies, such as precision machining, welding, assembly and testing of complex parts and modules for industrial gas turbines (IGT).
For many years, Ushers works closely together with our brazing and heat treatment activity in North America. The complex parts and modules are applied in the combustion chamber and hot gas path of an industrial gas turbine. The market for IGT is growing fast due to the worldwide need for ‘green’ energy.
Combining high grade technologies and excellent service, close to our Key Accounts, will further strengthen our position in this end market. In the coming years we will invest in the expansion, add complementary technologies and expand the existing Key Account partnerships to Europe and Asia.
Don Lincoln, President & CEO and former owner of Ushers with his experienced Management Team, will continue to drive the business with us and lead the many opportunities for profitable growth.
The results of Ushers will be consolidated effective from 1 January 2016 and will directly contribute to the earnings per share. The acquisition will be financed from existing credit facilities.
More information on Ushers can be found at www.ushersm.com.
100% ownership Impreglon SE
Aalberts Industries N.V. achieved 100% ownership of Impreglon SE after successfully finalising the squeeze out process in December 2015. The integration and improvement plans, will be accelerated coming period, driven by a strengthened Management Team.
Divestment small activity
Aalberts Industries has recently divested the activity of Overeem, Netherlands, with an annual revenue of approximately EUR 16 million. The proceeds from this transaction will be used to strengthen existing market positions and operations.