Curtiss-Wright Corp. has completed the acquisition of the shares of Exlar Corporation for $85 million in cash. Exlar, a private company, designs and manufactures 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.
Exlar electric actuators are used in defense, process control, industrial automation, food processing & packaging and test/simulation/entertainment markets. The transaction closed in December. The company is expected to contribute sales of approximately $50 million in 2013.
Exlar employs 183 people and is headquartered in Chanhassen, MN. The company also maintains a sales and service office near Frankfurt, Germany. Exlar designs and manufactures its products at its ISO-certified Chanhassen facility.