Moog Inc. (NYSE: MOG.A) (NYSE: MOG.B) announced that it has acquired a 70% ownership of Linear Mold and Engineering with an option to acquire the remaining 30%. Terms of the investment were not disclosed.
The privately held company, based in Livonia, Michigan, has 120 employees and specializes in metal additive manufacturing (AM). Linear provides engineering, manufacturing and production consulting services to customers across a wide range of industries including aerospace, defense, energy and industrial.
Sales for the 12 months ended September 2015 were approximately $21 million. The acquisition is expected to be neutral to Moog’s 2016 earnings per share.
“We are excited to welcome Linear to Moog,” said Sean Gartland, Vice President of Strategic Growth Initiatives at Moog. “We see significant potential for metal additive solutions in our core markets — aerospace, defense and industrial applications — in addition to the markets and customers that Linear is already serving.”
The financial results will be reported as part of the Aircraft Controls segment.