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Dresser-Rand Closes Synchrony Acquisition

Posted on January 5, 2012

Dresser-Rand Group Inc., a global supplier of high-speed rotating equipment and service products, announced today that it closed the previously announced acquisition of Synchrony, Inc., for US$50 million net of cash acquired.

The agreement, which was signed on Dec. 7, 2011, includes the potential for additional consideration of up to a maximum of US$10 million tied to technical milestones and to business performance.

Synchrony is a technology development company with a portfolio of active magnetic bearings (AMB), high speed motors and generators, and power electronics for rotating machinery. A private company founded in 1993, Synchrony is headquartered in Roanoke County, Virginia, U.S.A., where it develops, manufactures and tests its products in an ISO 9001-certified facility that includes a model shop for rapid prototype fabrication and assembly.

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