ESCO Technologies Acquires Components Maker Crissair
4 August 2010
ESCO Technologies Inc. has acquired Crissair, Inc. located in Palmdale, California. Crissair, with annual revenues of approximately $27 million, is a manufacturer of high-quality hydraulic, fuel and pneumatic system components for the aerospace industry. Terms of the deal were not disclosed.
Crissair supplies highly engineered and precision parts fluid control components used in a variety of major aircraft platforms, serving both the OEM and aftermarket requirements of its major customers. The company has been in operation for more than 50 years. Crissair will join PTI Technologies Inc. and VACCO Industries as part of ESCO’s Filtration and Fluid Flow segment.
Sam Chapetta, Filtration Group Vice President, commented, "We are very excited to add such an outstanding company to our Filtration Group, and we are very pleased that Crissair’s exceptional management team, led by Linda Bradley, will continue to direct the company’s day-to-day operations."
Linda Bradley, President of Crissair, added, "Becoming a part of ESCO certainly creates an exciting growth opportunity for Crissair, as we see many opportunities for the companies to work together in serving our common customer base. Additionally, we are pleased to see that ESCO shares our core values, including a strong focus on customers and employees."
Vic Richey, ESCO Chairman and Chief Executive Officer, commented, "This acquisition not only enhances our aerospace filtration product offering, but also allows us to broaden our industry-specific expertise to better serve our customers."
ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products.