The transaction was originally announced August 11, 2022, and financial terms of the transaction were not disclosed.
The business employs around 600 people and generated revenues of approximately $63 million in 2021.
The acquisition of this business is part of the Motion business area’s profitable growth strategy. The company said it strengthens ABB’s position as a leading industrial NEMA motor manufacturer, and it provides a strong platform from which ABB can better serve its global customers.
The line of horizontal and vertical induction severe-duty and general-purpose motors will be rebranded as ABB and reintroduced to the market during second quarter of 2023.
The global NEMA motor industry, roughly $2.7 billion in size, comprises industrial electric motors primarily used within North America. NEMA motors are used to run equipment in industries such as food and beverage, oil and gas, mining & aggregate, and water & wastewater and in applications like those which move air, liquids, and units.