Sources from Regal Beloit, Beloit, WI, announced yesterday that it has signed an agreement to acquire Unico, Inc., Franksville, WI.
Unico’s sales for the fiscal year ended June 30, 2010 were $61.7 million. Unico manufactures a full range of AC and DC drives, motor controllers, and other accessories ideally suited for most industrial and commercial applications. Unico has developed substantial proprietary technology in oil and gas recovery technology, commercial HVAC technology, test stand automation and other developing applications.
The transaction is subject to customary closing conditions and is expected to close by the end of this year.
Unico has developed substantial proprietary technology in oil and gas recovery technology, commercial HVAC technology, test stand automation, and other developing applications.
Regal Beloit CEO Henry Knueppel called it one of the most exciting acquisitions in Regal Beloit's history.
"It's about bringing together a full electromechanical solution for customers," Knueppel says. "Investors should view this acquisition as the start of an adjacent platform. Unico has experienced great organic growth and built a platform for dynamic future growth. They have an incredibly talented leadership team that will create the nucleus of this new platform for Regal Beloit. We believe the marriage of our combined products will drive development and adoption of new energy efficient and intelligent solutions. We simply could not be more excited about this marriage.”
Tom Beck, president and CEO of Unico, says Regal Beloit will be a great home for Unico. “Our companies have been on a similar course with complementary products and technologies. This marriage represents opportunities for faster growth and broader solutions. We too are excited about what the future holds," Beck says.