Moog Inc. has acquired Tritech International Limited for approximately £21 million. Tritech, founded in 1991, is a leading designer and manufacturer of high performance acoustic sensors, sonars, video cameras and mechanical tooling equipment. The company had trailing 12 month revenues of $19 million.
Tritech, located in Aberdeenshire, Scotland, is an industry leader known for supplying equipment for the ROV (Remotely Operated Vehicle) and AUV (Autonomous Underwater Vehicle) markets. This acquisition will be reported as part of the Components Group. Moog Components Group supplies motion and fiber optic products and solutions to marine, medical, industrial, aerospace and defense applications.
“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 $2 million to Moog’s sales for the remainder of the Company’s 2012 fiscal year, ending September 29, 2012, and $20 million in sales for fiscal year 2013. This acquisition is expected to be neutral to Moog’s earnings per share for fiscal years 2012 and 2013 due to first year purchase accounting adjustments.