With a history of acquisitions, instrumentation and control company Spectris has been on an apparent spending spree of late, snatching up Ballston Lake, N.Y.-based Sixnet just days after the announced completion of its Omega Engineering acquisition.
Sixnet, which makes rugged remote terminal units, I/O modules, Ethernet network switches and wireless products for the broad industrial and process market, will join Omega in Spectris’ Industrial Controls division. Sixnet will become part of Red Lion Controls, as has N-Tron since its acquisition by Spectris a year ago. Sixnet’s hardened Ethernet network switches complement N-Tron’s product range, and its remote automation solutions complement Red Lion’s own products, Spectris said.
Sixnet’s cellular wireless portfolio for the machine-to-machine market provides a new area of business for Red Lion. The majority of Sixnet’s sales are to the U.S. domestic market, and good opportunities exist to expand overseas sales using Red Lion’s international distribution channels, particularly in China.
“The acquisition of Sixnet will enable Red Lion to provide a broader range of solutions to our customers, and expand both our global presence and our strategic business segments,” said Mike Granby, president of Red Lion.
John O’Higgins, chief executive of Spectris, also commented, “The acquisition of Sixnet represents a further step in growing our strategic business segments and enables us to build our presence in the industrial controls sector.”
The net purchase consideration of $72 million, on a debt and cash-free basis, will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments.
