Lazard Middle Market Represented
Motion Control Group
in its Sale to
AMETEK
TRANSACTION
DESCRIPTION
Lazard Middle Market represented Motion
Control Group, Inc. (MCG) in its sale to AMETEK, Inc. (NYSE:AME). MCG is a
designer, developer, and global manufacturer of custom brush, brushless,
and linear motors and motion control components for the medical, life
sciences, industrial, automotive, semiconductor, and aviation markets.
Oppenheimer, Wolff, and Donnelly LLP in Minneapolis served as legal
representative for MCG.
TRANSACTION HIGHLIGHTS
MCG becomes part
of AMETEK’s Technical & Industrial Products (TIP) unit, which produces
brush-commutated DC motors, brushless DC motors, hybrid stepper motors,
slotless motors, motor controllers, blowers, fans, and pumps for a variety
of end markets.
Bill Jarrett,
a managing director with Lazard Middle Market, noted, “We worked closely
with our client, which had recently been approached by several interested
buyers, to complete a competitive process on an expedited basis. This was
a very successful transaction, largely because all parties recognized the
transaction’s potential and worked hard to make it happen.”
Charles
Mitchell, CEO of MCG, said, “On behalf of MCG’s shareholders and
employees, I am very pleased with this transaction. We built a successful
business model around our domestic design, engineering, and distribution
channels and our Chinese sourcing and supply capabilities. The timing was
right to partner with AMETEK, which will provide MCG with enhanced
capabilities and growth prospects.”
THE SELLER
Motion Control Group, Inc. (www.motioncontrolgroup.com)
is among the nation’s leaders in the custom design of brush, brushless,
and linear electric motors. The company also produces and sells
“off-the-shelf” electric motors and related components. MCG, headquartered
in Prior Lake, Minnesota, has a manufacturing plant in New Ulm, Minnesota
and a Wholly Owned Foreign Enterprise (WOFE) in China through which MCG
worked with its Chinese supplier as well as its customers operating in
Asia.
THE BUYER
AMETEK, Inc. (www.ametek.com), headquartered in Paoli,
Pennsylvania, is a leading global manufacturer of electronic instruments
and electromechanical devices with 2007 sales of more than $2.1 billion.
AMETEK has two operating groups, the Electronic Instruments Group (EIG)
and the Electromechanical Group (EMG). EIG builds monitoring, testing,
calibration and display devices for the process, aerospace, industrial,
and power markets. EMG, in which TIP resides, is a differentiated supplier
of electrical interconnects, microelectronic packaging, technical motors
and systems, and specialty metal products and produces electric motors for
floor care and other specialty motor applications.
ABOUT LAZARD MIDDLE MARKET
Lazard Middle Market
(www.lazardmm.com),
a subsidiary of Lazard (NYSE:LAZ), provides advice on mergers and
acquisitions, restructuring, and financings to the middle market. Formed
in 2007 with Lazard's acquisition of Goldsmith Agio Helms, Lazard
Middle Market has approximately 100 professionals in Minneapolis, New
York, Chicago, Los Angeles, and Shanghai.
