Moog acquires US motor maker in deal worth $34M
Aspen Motion Technologies had 2012 revenues of $36-million, according to Moog
EAST AURORA, N.Y.—Motion controls manufacturer Moog, Inc., has acquired a Virginia motor and control firm in a deal worth $34-million.
The aerospace and defence firm says it acquired Radford, Va.-based Aspen Motion Technologies, a brushless motor and digital controls manufacturer from Pentair.
“The addition of the Aspen products fills a product and technology gap for our existing customer base,” Moog Components Group president Larry Ball said in a statement.
“Their engineering and manufacturing expertise not only brings us new opportunities, but also a number of valued customers that will add to our existing base.”
Aspen’s 2012 revenues were approximately $36-million, according to Moog.
The acquisition is expected to add approximately $20-million for the seven months remaining in Moog’s 2013 fiscal year.
Moog has operations around the world, including Canadian component production in Dartmouth, N.S.