Curtiss-Wright [CW] yesterday said it has acquired for $85 million Exlar Corp., a provider of highly-engineered electric actuators used in motion control solutions in industrial and military markets.
The transaction, which closed in December, is expected to add $50 million to Curtiss-Wright’s sales this year.
“The acquisition of Exlar provides Curtiss-Wright a cornerstone property serving multiple markets and addresses the growing demand for advanced, energy-efficient and environmentally-friendly actuation solutions, while strengthening our existing industrial controls business,” Martin Benante, Curtiss-Wright’s chairman and CEO, said in a statement. “This acquisition complements our recent acquisitions of PG Drives and Williams Controls and further enhances our market diversification by providing greater penetration into our existing markets while simultaneously increasing our presence and breadth of product offerings in specialty markets.”
Exlar’s products are used in defense, process control, industrial automation, food processing and packaging, and the test, simulation and entertainment markets.
Exlar, which is based in Minnesota, has 183 employees and will become part of Curtiss-Wright’s Motion Control segment.