We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Solvix, based in Villaz-Saint-Pierre, makes power supplies for the surface-treatment and thin-films industry. The acquisition will allow Fort Collins-based Advanced Energy to expand into new applications and serve a broader customer base worldwide.
Terms of the deal were not disclosed.
With the addition of Solvix’s engineering site in Villaz-Saint-Pierre, Advanced Energy also will establish a European engineering and development center for its thin-film industrial products business.
The center will complement Advanced Energy’s strategy to move closer to its customers, the company said.
“This acquisition is an important step in our thin-films growth strategy to expand beyond our traditional applications,” Advanced Energy Thin Films President Yuval Wasserman said.
Advanced Energy shares were down 2.4 percent to $11.37 in morning trading.