Advanced Energy acquires high-voltage power firm for $12M

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS)  in Fort Collins on Thursday said it has acquired Trek Holding Co. Ltd. in an all-cash transaction for $12 million.

Privately-held Trek has locations in Lockport, N.Y., and Tokyo, Japan. It designs, manufactures and sells power-producing components that are used in a variety of products and industries.

“Today’s acquisition is part of our strategic initiative to grow our industrial business,” Yuval Wasserman, Advanced Energy’s president and chief executive, said in a prepared statement. “Trek is our third acquisition of high-voltage products — adding to our specialty power product offerings and expanding our global organization and addressable market.”

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Trek’s standard and custom original-equipment manufacturing of high-voltage power supplies and electrostatic measurement tools are used in semiconductor, aerospace, automotive, medical, defense, photovoltaic solar, and test and measurement applications.

Trek generated $20 million in revenue in 2017. The acquisition is expected to increase Advanced Energy’s earnings per share.