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

5 questions about the FLIR FX

The Latest
Wednesday, April 08, 2015
FLIR-FX-IndoorBY JACOB PALMER | DIGITAL NEWS EDITOR

The Wilsonville-based company is targeting GoPro enthusiasts with its latest release. Is spy gear poised to go mainstream?


Read more...

Beyond Bodegas

April 2015
Friday, March 27, 2015
BY JACOB PALMER

Five years in the making, the Portland Mercado — the city’s first Latino public market — will celebrate its grand opening April 11. A $3.5 million public-private partnership spearheaded by Hacienda CDC, the market will house 15 to 20 businesses in the food, retail and service sectors. It has some big-name funders, including the Paul G. Allen Family Foundation and JPMorgan Chase. The project goals are equally ambitious: to improve cross-cultural understanding, alleviate poverty and spur community economic development. 


Read more...

Power Players

April 2015
Friday, March 27, 2015
BY ROBERT MULLIN

A new energy-sharing agreement sparks concerns about independence and collaboration in the region's utility industry.


Read more...

6 development projects reshaping Bend

The Latest
Thursday, April 09, 2015
bendthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

Bend has reclaimed its prerecession title as one of the fastest growing cities in the country.


Read more...

100 Best: The Power of the Worker

March 2015
Wednesday, February 25, 2015
BY KIM MOORE | OB RESEARCH EDITOR
AND AMY MILSHTEIN | OB CONTRIBUTOR

Technology is empowering people like never before and transforming how employees interact in the workplace. How can companies attract and keep staff engaged in this rapidly changing world?


Read more...

On the Road

April 2015
Friday, March 27, 2015
BY LINDA BAKER

My daughter turned 18 last week, and for her birthday I got her a Car2Go membership. Not to label myself a disruptor or anything, but it felt like a groundbreaking moment. The two of us, mother and child, were participating in a new teen rite of passage: Instead of handing over the car keys, I handed over a car-sharing card — with the caveat that she not use the gift as her own personal car service.


Read more...

The best crisis is the one you avoid

Contributed Blogs
Wednesday, April 15, 2015
crisisthumbBY GARY CONKLING | GUEST BLOGGER

Avoiding a crisis is a great way to burnish your reputation, increase brand loyalty and become a market leader.


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