Regal Beloit acquires Benshaw

Special to The Freeman

July 1, 2014

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.

www.regalbeloit.com