Servotronics, Inc. designs, manufactures, and markets control components and consumer products in the United States and internationally. It operates in two segments, Advanced Technology Group (ATG) and Consumer Products Group (CPG). The ATG segment provides servo-control components to the commercial aerospace, aircraft, and government related industries; and medical and industrial markets. This segment's principal components include torque motors, electromagnetic actuators, hydraulic and pneumatic valves, and related devices that convert an electrical current into a mechanical force or movement, and other products. It also offers metallic seals of various cross-sectional configurations to close tolerances from standard and special alloy steels. This segment markets and sells its products to the United States Government, government prime contractors, government subcontractors, commercial manufacturers, and end-users. The CPG segment provides cutlery products, including steak, carving, bread, butcher, and paring knives for household use, as well as for use in restaurants, institutions, and the private industry; fixed and folding knives for hunting, fishing, and camping; and machetes, bayonets, axes, strap cutters, and other tools primarily for military and rescue/first-responder use, as well as for commercial markets. It also offers various specialty tools, putty knives, linoleum sheet cutters, field knives, scalpels, and micro-spatulas; and plastic and metal fabrication, as well as engineering, design, and OEM/white-label manufacturing services to customers in the consumer and commercial industries. This segment markets its products through its sales resources and independent manufacturers' representatives to big box, hardware, supermarket, variety, department, discount, gift, drug, outdoor, and sporting stores, as well as through electronic commerce. The company was incorporated in 1959 and is headquartered in Elma, New York.
IPO Year: 1970
Exchange: AMEX
Website: servotronics.com
ELMA, N.Y., May 29, 2025 /PRNewswire/ -- Servotronics, Inc. ("Servotronics" or the "Company") (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that the Company and TransDigm Inc. have amended the terms of the Agreement and Plan of Merger under which a subsidiary of TransDigm will commence a tender offer to acquire all of the outstanding shares of Servotronics. Pursuant to the amendment, the tender offer price has been increased to $47.00 per share in cash for all of the issued and outstanding common shares of Servotronics.
– Beaver Hollow Wellness has withdrawn its nominees for election to the Company's Board of Directors, thus ending the proxy contest – – Vote now on the Company's BLUE proxy card to have your vote counted – ELMA, N.Y., May 22, 2025 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products, today announced that on May 22, 2025 Beaver Hollow Wellness LLC notified the Company that Beaver Hollow was withdrawing its four nominees for election to the Company's Board of Directors. The withdrawal of Beaver Hollow's nominees is not the result of any concessions by the Company or negotiated settlement with Bea
BUFFALO, N.Y., May 22, 2025 /PRNewswire/ -- Beaver Hollow Wellness, LLC ("BHW"), the largest shareholder of Servotronics, Inc. (NYSE:SVT), today announced it will conclude its proxy solicitation campaign following the proposed acquisition of Servotronics by TransDigm Group Incorporated (NYSE:TDG). This landmark transaction not only delivers an exceptional return to shareholders, but also reflects a significant step forward in preserving Western New York's aerospace manufacturing base. "We did not begin this campaign for ourselves—we did it to protect 275 hard-working employees and the advanced manufacturing capabilities that Western New York has proudly built over decades," said Paul L. Sny
CLEVELAND and ELMA, N.Y., May 19, 2025 /PRNewswire/ -- TransDigm Group Incorporated ("TransDigm") (NYSE:TDG) and Servotronics, Inc. ("Servotronics") (NYSE:SVT) today announced a definitive merger agreement providing for Servotronics to become an indirect wholly owned subsidiary of TransDigm. TransDigm designs, produces and supplies highly engineered aircraft components. Servotronics designs, produces and supplies highly engineered servo valves. Under the terms of the agreement, a subsidiary of TransDigm will commence a tender offer to acquire all the outstanding shares of Servotronics for $38.50 per share in cash, in a transaction valued at approximately $110 million, including certain tax
Drastic Change is Needed At Servotronics Today to Safeguard the Interests of Shareholders, Employees and Customers Beaver Hollow Wellness Urges Shareholders to Vote the WHITE Proxy Card "FOR" Its Four Highly Qualified Director Nominees and "WITHHOLD" on all Company Nominees except for Karen L. Howard ELMA, N.Y., May 13, 2025 /PRNewswire/ -- Beaver Hollow Wellness, LLC ("BHW"), the largest shareholder of Servotronics, Inc. (NYSE American – SVT, "Servotronics" or the "Company"), owning 15.2% of the outstanding shares, today issued a dire warning about the Company's future under its current Board of Directors. Continuing a pattern of bad faith, obstruction, and brazen disregard for fiduciary re
-- Rebounding Industry Demand Drives 12% Top Line Growth and 360 bps Gross Margin Increase -- ELMA, N.Y., May 9, 2025 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today reported improved financial results for the first quarter ended March 31, 2025. Solid revenue growth and operating leverage drove a return to profitability in the quarter. Highlights for the first quarter financial results include: Revenues of $11.7 million, up 12.0% from $10.4 million in the first quar
Sends Letter to Servotronics, Inc. Shareholders Highlighting Material Underperformance On May 2, 2025, Beaver Hollow Wellness issued the following press release and letter: Beaver Hollow Wellness Files Definitive Proxy Statement and Sends Letter to Servotronics, Inc. Shareholders Highlighting Material Underperformance, Misguided Capital Allocation Strategy and Loss of Shareholder Value Nominates Four Highly Qualified Director Nominees – Paul L. Snyder III, Christine R. Marlow, Michael W. Dolpp and Charles C. Alfiero – to Servotronics' Board of Directors Incumbent Directors Who Failed to Maximize Shareholder Value Over Many Years Should Not be Entrusted to Manage Company's Review of Strategic
Calls for Accountability and Shareholder-Centered Reform BUFFALO, N.Y., April 23, 2025 /PRNewswire/ -- Beaver Hollow Wellness, LLC ("BHW"), the largest active shareholder of Servotronics, Inc. (NASDAQ:SVT), today issued the following statement in response to the Company's amended proxy statement filed April 22, 2025: "Servotronics' latest filing is a clear sign of a board under pressure and out of touch," said Paul L. Snyder III, Chairman of BHW. "The escalation in rhetoric, along with newly inserted language about 'change of control' compensation, demonstrates that the Company is more focused on protecting executive payouts than delivering value to shareholders." Change of Control Provisio
Star Equity Fund Has Repeatedly Called on Company to Explore Strategic Alternatives Since 2022 OLD GREENWICH, Conn., March 25, 2025 (GLOBE NEWSWIRE) -- Star Equity Fund, LP ("Star Equity Fund" or "we"), an investment fund focused on unlocking shareholder value by engaging with management teams across its portfolio companies, comments today on Servotronics, Inc.'s (NYSE:SVT) ("Servotronics" or the "Company") recent announcement that its Board of Directors (the "Board") has commenced a review of strategic alternatives. Star Equity Fund has pushed for change at Servotronics since 2022 In our press releases, SEC filings, and open letters to the Company's Board, issued througho
-- Engages Investment Bank Houlihan Lokey to Manage Review Process -- ELMA, N.Y., March 17, 2025 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that its Board of Directors has commenced a review of strategic alternatives for the Company. "The Servotronics team has achieved significant progress in our transformation efforts over the past three years as a valued supplier to the commercial aerospace industry," said Chairman of the Board of Directors Christoph
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-- Revenue expected to increase in the fourth quarter of 2022 driven by increasing order volume from Servotronics' Advanced Technology Group -- ELMA, N.Y., Nov. 14, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the quarter and nine months ended September 30, 2022. The Company reported third quarter 2022 net loss of $(316,000), or $(0.13) per diluted share as compared to third quarter 2021 net income of $3.2 million, or $1.34 per diluted share. In the third quarter of 2021, the Company's net income included non-recurring other income related to
-- Revenue expected to increase in the third quarter of 2022 driven by increasing order volume from Servotronics' Advanced Technology Group -- ELMA, N.Y., Aug. 15, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the second quarter ended June 30, 2022, including 12% growth in revenue. The company reported second quarter 2022 net loss of $(810,000), or $(0.33) per diluted share. Second quarter 2021 net income of $1,186,000, or $0.49 per diluted share, included a $1.9 million or $0.62 per share contribution to earnings from government-provided employe
-- Anticipated first quarter 2022 total revenue growth on improving Advanced Technology Group sales is attributed to process improvements and maintenance of production capabilities, including Servotronics' highly skilled workforce, over the last two years -- ELMA, N.Y., March 31, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today reported financial results for the fourth quarter and twelve months ended December 31, 2021 including net income growth and record high levels of operating cash flow and year-end cash. The company reported net income of $4.1 million, or $1.68 per diluted s
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ELMA, N.Y., Jan. 31, 2024 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that Harrison W. Kelly III has been appointed as its new Chief Operating Officer (COO). With over twenty years of experience in executive operations leadership and practical engineering across aerospace, automotive and medical device manufacturing, Dr. Kelly brings a wealth of expertise to lead the Company's operational and strategic initiatives. As the COO of Servotronics, Dr. Kelly
ELMA, N.Y., June 14, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today announced the results of voting at the Company's 2023 Annual Shareholder meeting. Shareholders voted to re-elect all six of the current directors to one-year terms, to approve the 2022 "say on pay" proposal as well as to ratify the appointment of Servotronics' Independent Public Accounting firm. On Proposal 1, more than 70% of all shares voted were voted in favor of the election of all six of the
ELMA, N.Y., April 26, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products announced today that Robert Fraass has been appointed Chief Financial Officer of the Company effective May 1, 2023. He replaces Lisa F. Bencel who will be leaving the Company later in May to pursue other interests. Mr. Fraass most recently comes from Stark Technologies Group, Inc. where he served as Senior Vice President of Finance – Corporate Controller & Treasurer. He has also held several executive finance roles of increasing responsibility at PostProcess Technologies, Ivoclar Vivadent, Integer and Integrys Energ
-- Carrie Czerwinski Brings Nearly Two Decades of Experience to Role-- ELMA, N.Y., Feb. 20, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that it has appointed Carrie Czerwinski as Director of Human Resources. "We are pleased to welcome Carrie Czerwinski as our new Director of Human Resources, bringing a wealth of experience in managing and developing talent across all levels in a range of organizations. Carrie's leadership in solidifying talent attraction and retention, organizational development, and increasing employee engagement, will play an integral role in
-- Brent D. Baird Joins the Board and Enters into Cooperation Agreement with the Company -- ELMA, N.Y., Feb. 15, 2023 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today announced the appointment of Brent D. Baird to the Board and the entry into a Cooperation Agreement between the Company and Mr. Baird. Mr. Baird will serve as a director effective February 16, 2023, with an initial term through the Company's 2023 Annual Meeting of Shareholders, and the Company has agreed to include Mr. Baird in the Company's slate of director nominees for election at the 2023 Annual Meeting. "We are plea
-- The Board of Directors and Management Remain Committed to Maximizing Shareholder Value by Executing the Company's Strategic Plan -- ELMA, N.Y., Nov. 16, 2022 /PRNewswire/ -- Servotronics, Inc. (NYSE American – SVT) a designer and manufacturer of servo-control components and other advanced technology products today responds to recent claims from Star Equity Holdings, Inc. ("Star Equity") about its indication of interest to combine with Servotronics. Beginning in July 2022 the Servotronics Leadership Team has been developing a strategic plan designed to increase long-term shareholder value that is focused on strengthening the corporate culture, delivering quality products on time, growing t
Was Change Agent for Recent Board ChangesWill Continue to Monitor Company's Progress and Act if Needed OLD GREENWICH, Conn., May 13, 2022 (GLOBE NEWSWIRE) -- Star Equity Fund, LP ("Star Equity Fund", "we", "our"), a shareholder of Servotronics, Inc. (NYSE:SVT) ("Servotronics" or "the Company"), seeks to unlock shareholder value and improve corporate governance at its portfolio companies. We are pleased to announce that our campaign at Servotronics, including our nomination of a diverse, highly qualified slate of director candidates for election to the Company's board of directors (the "Board") and advocacy for various improvements in the Company's corporate governance, caused the Company
ELMA, N.Y., April 27, 2022 /PRNewswire/ -- The Board of Servotronics, Inc. (NYSE American – SVT) announced the appointment of two new independent directors and a non-executive Chairman, as well as the accelerated expiration of the company's shareholder rights plan. Evan Wax, Managing Member of one of Servotronics' largest shareholders, Wax Asset Management LLC, and retired public company finance and business executive Karen L. Howard have joined the Board as independent directors. In addition, sitting independent director Christopher M. Marks was appointed Chairman of the Board. Today's announcements follow Servotronics' previously disclosed appointment of William F. Farrell, Jr. to serve a