Dresser-Rand Closes Synchrony Purchase

Acquired technology company, gaining active magnetic bearings, high speed motors and generators, and power electronics for rotating machinery assets.

Dresser-Rand Group Inc., Houston, (NYSE: DRC) has completed its purchase of privately held, Salem, Va.-based Synchrony Inc. for $50 million in cash.

The agreement includes the potential for additional consideration of up to a maximum of $10 million tied to technical milestones and to business performance.

Synchrony provided technologies and products including active magnetic bearings (AMB), high speed motors and generators, and power electronics for rotating machinery.

Dresser-Rand vice president, technology and business development, Christopher Rossi says, “Several years ago we identified the strategic importance of being able to offer oil-free solutions in high speed rotating equipment applications.”

He adds, "After an extensive technology assessment process we concluded that we have found, what we believe to be, the best technology that exists today in the form of Synchrony. We believe that the seamless integration of this capability into our product development process will provide us with the ability to continuously improve our overall equipment designs, and is the fastest and least expensive way to build this capability internally.”