Curtiss-Wright Corporation has announced that it has completed the acquisition of the shares of Exlar Corporation for $85 million. Exlar, a private company, is a leading designer and manufacturer of highly engineered electric actuators used in motion control solutions in industrial and military markets. The acquired business will operate within Curtiss-Wright’s Motion Control segment.
“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,” said Chairman and CEO of Curtiss-Wright Corporation, Martin R. Benante. “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.”
The transaction closed in December. The company is expected to contribute sales of approximately $50 million in 2013.