Thursday, August 25, 2011

SNTech Acquires Electric Motor Firm

Phoenix, Arizona-based SNTech, a venture backed firm developing highly energy efficient electric motors, said Wednesday that it has acquired the electric motor product line from Regal Beloit Corporation (RBC). Financial details of the deal were not disclosed, however, SNTech said that the $23.4M business will go towards placing more energy efficient motors into the pool and spa industry. SNTech said the deal was a requirement of the U.S. Department of Justice, so that RBC could proceed with a plan to acquire the electric motor business of A.O. Smith Corporation. SNTech is venture backed by SAIL Capital Partners.