SNTech Acquires $23.4 Million Motor Company—
Acquisition of Regal Beloit division accelerates plans to place more energy efficient electric motors into the pool and spa industry
PHOENIX, Aug. 24, 2011 /PRNewswire/ -- SNTech, Inc., a Phoenix, Arizona-based company specializing in the design, manufacture and distribution of highly energy efficient electric motors, announces the acquisition of a $23.4 million electric motor product line from Regal Beloit Corporation (RBC).
The move was made possible when the U.S. Department of Justice (DOJ) required RBC to divest its domestic business for electric motors for pool and spa pumps to SNTech so that RBC could proceed with plans to acquire the electric motor business of industry giant A.O. Smith Corporation.
The acquisition positions SNTech to become one of the major electric motor manufacturers in the pool and spa category.
"Now, we can accelerate our plans to bring more highly energy efficient motors to the mainstream market," says SNTech CEO Shannon Bard. "SNTech is already supplying motors to original equipment manufacturers, distributors and contractors in other categories, so we're confident that we'll maintain a smooth transition with the companies that have been served by Regal Beloit."
"Because of this acquisition, SNTech will be able to create efficiencies which will continue to drive down the cost of producing all of the motors in our product lines," Bard adds.
SNTech manufactures its current lines of motor products in Searcy, Arkansas, and will implement a transition plan to produce its new lines of pool and spa motors at that facility.
"We take this transition seriously and plan to execute it according to a detailed plan that will be developed jointly between SNTech and Regal Beloit Corporation," Bard says.
SNTech is backed by cleantech investment firm SAIL Capital Partners LLC (www.sailcapital.com)
About SNTech, Inc.
SNTech is a world leader in the design and production of highly efficient, smart electric motors known as electronically commutated motors (ECMs). The Company serves markets in the U.S., Europe and Asia.
Contact SNTech
Additional information is available at www.SNTech.com.
SOURCE SNTech, Inc.
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