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Moog buys Aspen Motion Technologies from Pentair for $34m
Moog has acquired Pentair’s Aspen Motion Technologies subsidiary for about $34m in cash. US-based Aspen, founded in 1996, designs and manufactures high-performance permanent magnet brushless DC motors, integrated digital controls and motorised impellers for motors. Its revenues for 2012 were worth around $36m.
“The addition of the Aspen products fills a product and technology gap for our existing customer base,” says Larry Ball, president of Moog’s Components Group. “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.”
As well as volume production, Aspen also specialises in custom motor designs for end-product integration and product enhancements in high-performance industrial applications.
The company, based in Radford, Virginia, integrates motor and control designs with OEM customers’ products in a variety of markets, including medical, computer peripherals, appliances, transportation, instrumentation and automation. One of its stated goals is “to put a computer (digital signal processor) in every electric motor”.
The acquisition is expected to add about $20m for the seven months remaining in Moog’s 2013 fiscal year, which ends in September. It will be neutral to Moog’s 2013 earnings per share due to first-year purchase accounting adjustments.
