BELOIT – Regal Beloit Corp. said Tuesday
it has acquired Benshaw Inc., a maker of custom low and medium
voltage drives and soft starters.
The Beloit-based company acquired Pittsburgh-based Benshaw from
Charlotte, N.C.-based Curtiss-Wright Corp., according to a
statement. The purchase price was approximately $50 million, the
statement said.
"Benshaw is an excellent fit with our existing custom electronic
drives and controls businesses. Benshaw's soft starters are well
respected throughout the industry and its custom drives business
complements our Unico capabilities. We're excited to have
Benshaw join the Regal family and we welcome all of the
employees to Regal," said Mark Gliebe, Regal's chairman and CEO.
Benshaw has estimated annual revenues of approximately $60
million, the statement said.
Regal Beloit is a manufacturer of electric motors, mechanical
and electrical motion controls and power generation products.
