Rotating equipment and solutions supplier Dresser-Rand has
closed on its previously-announced acquisition of Synchrony,
for approximately $50 million net of cash acquired.
The agreement includes the potential for additional
consideration of up to a maximum of $10 million tied to
technical milestones and to business performance, the company
Synchrony is a technology development company with
a portfolio of world-class technologies and products including
active magnetic bearings (AMB), high speed motors and
generators, and power electronics for clean, efficient, and
reliable rotating machinery.
A private company founded in 1993, Synchrony is
headquartered in Roanoke County, Virginia, where it develops,
manufactures, and tests its products in an ISO 9001-certified
facility that includes a best-in-class model shop for rapid
prototype fabrication and assembly.
The agreement was first announced on December 7, 2011.