- March 20, 2017
This is the first acquisition for Electro-Matic Ventures, which has three other subsidiaries: Electro-Matic Products, Electro-Matic Integrated, and Electro-Matic Visual.
March 20, 2017 – Electro-Matic Ventures, a supplier of automation components and services, announced it has acquired RAF Fluid Power, a provider of advanced automation with a focus on pneumatic and robotic solutions, located outside Cleveland in Solon, OH. This is the first acquisition for Electro-Matic Ventures, which has three other subsidiaries: Electro-Matic Products, Electro-Matic Integrated, and Electro-Matic Visual.
The acquisition rounds out the companies’ offerings for their customers. RAF’s key product lines - Festo, Cognex, Universal Robots and Gast – focus on pneumatic and robotic solutions. Electro-Matic’s key product lines - Siemens, Rittal, Fortress, Lapp, Turck and TE Connectivity– include solutions for automation, controls, drives, enclosures, safety components and connectivity.
RAF Fluid Power was privately held by Tom Koly, President, and Bill Frissell, Vice President. Koly and Frissell will remain in their current positions as RAF becomes a subsidiary of Electro-Matic Ventures.
Electro-Matic’s distribution subsidiary, Electro-Matic Products, holds a sales office with 11 employees in Brecksville, Ohio. This office will close and all staff will join RAF’s 28 employees at its 23,000-square-foot facility in Solon, OH which will include local inventory, training and manufacturing/value add capabilities. Included in the purchase is Miniature Plastic Molding, an injection molding machine business run out of the facility.Learn More
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