Moog Inc. has acquired a Virginia company that makes brushless motors and other related industrial components in a $34 million deal, the Elma-based motion control equipment maker said today.
Moog’s purchase of Aspen Motion Technologies in Radford, Va., from Pentair adds a business that makes permanent magnet brushless motors, along with integrated direct controls and motorized impellers for motors. Aspen also does custom motor design work for high-performance industrial tasks.
Aspen had $36 million in revenues last year, and the company is expected to contribute about $20 million to Moog’s sales during the seven months remaining in its fiscal year, which ends in September. The deal is not expected to have any impact on Moog’s earnings this year because of accounting adjustments, the company said.
“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,” said Larry Ball, president of Moog’s components group, in a statement.