Advanced Energy Industries moves up with acquisition of UltraVolt

  • aug. 2014
  • Industrial
  • M&A: Sell-Side
  • US

Livingstone’s Industrial sector team has advised on the sale of UltraVolt, Inc. to NASDAQ-listed Advanced Energy Industries, Inc. for $30.2m in cash. 

UltraVolt was a portfolio company of The Riverside Company. Headquartered in Ronkonkoma, New York, UltraVolt is a leading manufacturer and designer of standardised high voltage power supply products, such as DC-DC converters, biasing components, amplifiers and configurable racks.

UltraVolt’s products are critical components and subassemblies normally configured into larger systems.  The company’s products have applications across diverse end markets, including semiconductor, medical, analytical chemistry, aerospace & defence, industrial, test equipment and research & academia.

“The acquisition of UltraVolt adds to Advanced Energy’s diversified portfolio of precision power products. With a broad range of high voltage products, UltraVolt expands our penetration of existing applications and customers while adding new and potential areas of opportunity in medical equipment, industrial, and semiconductors applications.” confirmed Yuval Wasserman of Advanced Energy Industries/Precision Power Products.

“Livingstone’s sector knowledge, deal advice, and understanding of UltraVolt’s business model were critical to delivering a successful transaction outcome for all parties,” said Dan Haynes, Vice President at The Riverside Company.

“Under Riverside’s stewardship, UltraVolt increased all its financial metrics, enhanced the management team, and evolved the company’s strategy, resulting in it becoming a leading global provider of high voltage power supply solutions,” said Partner at Livingstone Chicago, Andrew Isgrig. “In Advanced Energy, we found the right long-term partner for UltraVolt.  We have completed another transaction in our industrial technology practice to a major strategic acquirer.”

The UltraVolt transaction adds to Livingstone’s Industrial sector team’s extensive track record in power systems in both the US and Europe and growing list of sales to prominent strategic acquirers, including Power Solutions International, Global Power Equipment Group, Hubbell and ITT Exelis.

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