Business |
MOOG acquires Tritech International Ltd.
Moog Inc. has acquired Tritech International Limited. The purchase price is approximately GBP 21 million in cash.
Tritech, founded in 1991 and located in Aberdeenshire (Scotland), is a designer and manufacturer of high performance acoustic sensors, sonars, video cameras and mechanical tooling equipment. The company had trailing 12 month revenues of USD 19 million.
"The acquisition of Tritech brings several very strong products to our marine portfolio, as well as an experienced team of individuals who have a reputation of delivering quality products and services to the ROV and AUV markets," said Larry Ball, President of Moog Components Group.
Sales for Tritech are expected to add approximately USD 2 million to Moog's sales for the remainder of the Company's 2012 fiscal year, ending September 29, 2012, and USD 20 million in sales for fiscal year 2013.
