Moog Acquires Aspen Motion Technologies

Moog Inc. acquires Aspen Motion Technologies, a subsidiary of Pentair, located in Radford, Va. The purchase price is approximately $34 million in cash.

Aspen, founded in 1996, is a designer and manufacturer of high-performance permanent magnet brushless DC motors, integrated digital controls and motorized impellers for motors. Aspen also specializes in custom motor designs for end product integration and significant product enhancement in a variety of high-performance industrial applications. Revenues for 2012 were approximately $36 million. 

“The addition of the Aspen products fills a product and technology gap for our existing customer base,” says Larry Ball, President of Moog 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.”   

The acquisition is expected to add approximately $20 million for the seven months remaining in Moog’s 2013 fiscal year, ending on September 28 and will be neutral to Moog’s 2013 earnings per share due to first year purchase accounting adjustments.