Safran to sell Globe Motors to Allied Motion

Safran has reached a definitive agreement to sell Globe Motors, a US-based subsidiary of Safran, to Allied Motion on the basis of an expected enterprise value of $90m. The transaction is subject to customary closing conditions, including regulatory approvals and the successful arrangement of debt financing by Allied Motion, and is expected close in the second half of 2013. Headquartered in Dayton, Ohio, Globe Motors designs, manufactures, and distributes standard and bespoke precision, subfractional horsepower motors and motorised devices internationally with applications in aeronautical (commercial and military), automotive and industrial markets. Globe Motors is part of Safran’s Aircraft Equipment activities and recorded revenue of $106m in 2012.