Deal Watch: Infrared meets imaging in FLIR deal

| Print |  Email
Archives - August 2009
Wednesday, July 22, 2009
BY JON BELL

DealWatch_flircamera

 

DON'T LOOK for any grand strategy shifts or flashy new markets behind FLIR Systems' recent acquisition of the Colorado imaging firm Salvador Imaging.


Despite the fact that Salvador counts veterinary X-rays and semiconductor device inspection among its specialties, FLIR's vice president of corporate strategy, Tony Trunzo, says those are niche markets that will remain as such.

Instead, Trunzo says FLIR dropped $13 million in cash for the 30-person company as a way to vertically integrate Salvador's sophisticated low-light cameras and technology.

"Our acquisitions take two to three different forms," Trunzo says. "Some add distribution, some add to our product line, but the most common is vertical integration. I'd say this is a pretty good example of that strategy, and it's reflective of what we've been doing with our (acquisitions) over the past few years."

Salvador specializes in low-light video cameras that run at speeds in excess of 100 million frames per second. The cameras are able to create visible images in color or monochrome with very low levels of light.

That will come in handy for FLIR's Commercial Vision Systems division, especially in the low-light security sector.

"With infrared, you can't ID things," says Trunzo. "With low-light imaging, you're able to, for example, read a license plate in the dark. This gives us an in-house source of those types of cameras."

Wilsonville-based FLIR, which had revenues of $1.1 billion in 2008, will work on fusing its infrared capabilities with Salvador's imaging technology in an effort to expand security and surveillance offerings to commercial customers. Trunzo says FLIR also hopes to do with low-light imaging what it's done with infrared: lower the price.

"We ultimately see this as having substantial commercial applications," Trunzo says, "and we also believe we can take this technology and drive down the cost like we've done with infrared."

REAL ESTATE TRANSACTIONS
PRICE BUYER / PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) ANNOUNCED
$55M Shin-Etsu Handotai Group (Japan) 174 acres industrial (Vancouver)/Hewlett Packard (CA) 6/26
$6.2M Dutton Acquisitions (Portland) 126,338 sq. ft. industrial building (Portland)/Realty Associates Fund VI (MA) 6/22
$4M Columbia Crest Townhomes (Portland) Columbia Crest apartments (Troutdale)/Columbia Crest Apartments (Portland) 6/22
$1.7M Westmoreland Apartments (Portland) 16-unit apartment complex (Portland)/R& A Husari (Portland) 6/22
$1.2M DECCA Hardwood (Portland) 12,000 sq. ft. building (Newberg)/Nilles Family Trust (Newberg) 6/22
$1.1M 434 Investors LLC (Portland) 3,100 sq. ft. retail property (Hat Creek Cattle (Portland) 6/1
$897,000 Lady of America (MD) office property (Beaverton)/9550 Property (Portland) 6/30
ND Aspire Business Group (Bend) National Fitness & Racquetball Club (Bend)/Israel Love (Bend) 6/15
ND Jolyn of Gladstone (Gladstone) 1,800 sq. ft. retail (Portland)/Nasian (Gladstone) 6/30

CAPITAL RAISING AND CONTRACTS
PRICE (TYPE) COMPANY (HQ) / LEADERSHIP INVESTOR (HQ) ANNOUNCED
$87M (TARP funds for renegotiating mortgages) Wilshire Credit (Beaverton)/Jay Memmot U.S. Treasury 6/24
$17M (hydroelectric plant loan) Central Oregon Irrigation District Oregon Dept. of Energy 6/1
$16.8M (renewable energy stimulus funds) State of Oregon U.S. Dept. of Energy 6/26
$14M (pipe orders) Northwest Pipe (Vancouver)/Brian Dunham Ames Construction (UT) and SJ Louis Construction (TX) 6/3
$13.4M (Astoria-Megler bridge contract) Abhe & Svoboda (MN)/Gail Svoboda ODOT 6/2
$11M (pipe order) Northwest Pipe (Vancouver)/Brian Dunham Oscar Renda Contracting (TX) 6/8
$7.3M (credit facility) Merix (Beaverton)/Michael Burger Industrial and Commercial Bank of China (China) 6/29
$7M (pipe order) Northwest Pipe (Vancouver)/Brian Dunham Slayden Construction Group (Stayton) 6/4
$3.9M (bridge re-routing contract) High Desert Aggregate & Paving (Redmond)/Michael Moore ODOT and Federal Highway Commission 6/16
$3.7M (reservoir contract) Nutter (Vancouver)/Jerry Nutter City of Portland 6/4
$3.4M (building demo and construction contract) S&B James Construction Management (White City)/Tom Hall Department of Veterans Affairs (Portland) 6/19
$2M (venture funding) Reductive Labs (Portland)/Luke Kanies True Ventures (CA) 6/24
$1.9M (traffic signal replacement contract) Cherry City Electric (Salem)/Ray Ellis Oregon Transportation Commission 6/23
$471,500 (dredging contract) Nehalem River Dredging (Nehalem)/Vern Scovell U.S. Army Corps of Engineers 6/29
$390,700 (stimulus grant) West Salem Clinic (Salem)/Paul Logan U.S. Dept. of Housing and Urban Development 6/11
$290,000 (fish passage contract) R.L. Reimers Company (Albany)/Ronald Reimers U.S. Dept. of Agriculture 6/1
$196,000 (helicopter services contract) Hillsboro Aviation (Hillsboro)/Max Lyons U.S. Dept. of the Interior 6/3
$155,000 (pedestrian bridge contract) Civil Construction (The Dalles)/Paul Wolf City of Tualatin 6/16
ND (multimillion dollar investment) PV Powered (Bend)/Gregg Patterson Evans Renewable Holdings (Vancouver) 6/1

MERGERS AND ACQUISITIONS
PRICE EXP. CLOSE BUYER / PARENT (HQ) SELLER / PARENT (HQ) ANNOUNCED
$13M Q2 FLIR Systems (Portland) Salvador Imaging (CO) 6/11
$4M Q2 FEI (Hillsboro) JFTech (Australia) 6/15
ND Q2 Delap (Lake Oswego) Symonds Evans & Co (Portland) 6/1
ND Q2 John L. Scott Real Estate (WA) Persimmon Realty (Gresham) 6/29
ND Q3 Rivermark Community Credit Union (Beaverton) Oregon Territory Federal Credit Union (Salem) 6/17
ND Q2 Vyant Technologies (Eugene) Oldfield's Appliance and Home Theater (Eugene) and Wolf Security (Eugene) 6/11

 

More Articles

Free Falling

Contributed Blogs
Thursday, December 18, 2014
121714-oilprice-thumbBY JASON NORRIS | OB CONTRIBUTOR

The implosion of the energy complex: The best thing for low oil prices is low oil prices.


Read more...

The clean fuels opportunity

News
Monday, November 10, 2014
111014-dirtyfuel-thumbBY KIM MOORE | OB RESEARCH EDITOR

A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.


Read more...

Top stories in 2014

The Latest
Thursday, December 18, 2014
10-listthumb

2014 was a year of wild contradictions, fast-paced growth and unexpected revelations.


Read more...

Corner Office: Marv LaPorte

January-Powerbook 2015
Saturday, December 13, 2014

The president of LaPorte & Associates lets us in on his day-to-day life.


Read more...

Reimagining education to solve Oregon's student debt and underemployment problems

News
Thursday, November 13, 2014
carsonstudentdept-thumbBY RYAN CARSON | OP-ED CONTRIBUTOR

How do we skill up our future technology workforce in a smart way to take advantage of these high-paying jobs? The answer shouldn’t focus only on helping people get a bachelor’s degree.


Read more...

Justice for All

January-Powerbook 2015
Thursday, December 11, 2014
BY JESSICA RIDGWAY

Lawger upends the typical hourly based fee model by letting clients determine the cost.


Read more...

Dan and Louis Oyster Bar opens up to a changing neighborhood

The Latest
Thursday, December 11, 2014
121114-oystervidBy MEGHAN NOLT

VIDEO: Revamping a Classic — an iconic eatery stays relevant in a changing marketplace.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS