Arnold Magnetic Technologies Announces Acquisition of Ramco Electric Motors
Expands Capabilities to Offer Complete System of Engineered Solutions to Combined Customer Base
ROCHESTER, NY – March 2, 2021 – Arnold Magnetic Technologies Corporation (“Arnold”), a subsidiary of Compass Diversified (NYSE: CODI) and leading global manufacturer of high-performance magnets, magnetic assemblies, precision thin metals and highly loaded composites today announced that it has acquired Ramco Electric Motors, Inc. (“Ramco”), manufacturer of stators, rotors, and full electric motors. Financial terms of the transaction were not disclosed.
This transaction further advances Arnold’s strategic priorities to deliver new materials and engineered solutions that empower customers to develop next generation technologies. By acquiring Ramco, Arnold expands an already diverse product offering with industry leading electric motor solutions capabilities. In addition, Ramco brings deep relationships with a number of strategic customers that utilize its capabilities in applications across various markets including industrial, military and aerospace.
“Over the past 125 years, Arnold has successfully evolved and adapted its technologies and manufacturing presence to provide world-class quality products and service to our customers,” said Dan Miller, President & CEO of Arnold. “By augmenting our technical know-how and engineering capabilities with Ramco’s complementary product portfolio, we will move up the technology ladder and be able to offer more comprehensive, turnkey solutions to our customers. We have a clear line of sight to future growth opportunities through partnering with Ramco’s talented team.”
“Arnold shares our deep commitment to technological innovation and we believe that together, we can best support our combined customer base,” said Dan Seger, President of Ramco. “As part of Arnold, Ramco will have the opportunity to expand its reach, and our employees and customers will benefit from Arnold’s increased scale, commitment to growth and expertise.”
“With the acquisition of an industry leader like Ramco, Arnold is continuing to execute its strategy to become a leading technology-based, engineering solutions company,” said Elias Sabo, Chief Executive Officer of CODI. “Arnold and Ramco are naturally complementary businesses and, together, are more competitive in the marketplace – offering significant opportunity to gain market share and acquire new customers. We look forward to partnering with the Arnold and Ramco teams to integrate their capabilities and realize the full benefits of this transaction, and we remain confident in the future of Arnold’s business.”
Ramco will continue to operate under its brand name as a division of Arnold and its operations will remain in Greenville, OH.
Link to official release:
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