Beloit, WI - Regal Beloit Corporation announced it has acquired Benshaw Inc., a leader in custom low and medium voltage drives and soft starters, from Curtiss-Wright Corporation.
"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," stated Mark Gliebe, Regal's Chairman and CEO.
Benshaw has estimated annual revenues of approximately $60 million. For the second half of 2014, Benshaw is anticipated to be $0.02 dilutive Regal's earnings per share, including the impact of purchase accounting adjustments and transaction costs. For 2015, Benshaw is anticipated to be accretive to earnings per share by $0.06 to $0.09. The purchase price was approximately $50 million.