ABB announced today it has signed an agreement to purchase Aurora Motors. This acquisition provides a well-regarded product portfolio, a longstanding customer base in 30 countries and an experienced customer-centered sales structure, as well as solid partnerships with strategic suppliers. Aurora Motors is a $4 million U.S. Vertical Pump Motors provider, with engineering and operations in Shanghai, China and a corporate office and distribution center in Hayward, California. Financial terms were not disclosed, and the transaction is expected to be closed before the end of the 2024 financial year.
This transaction is part of the Motion Business area's profitable growth strategy, and it will allow the NEMA Motors Division to enhance its product offering, expand its supply chain and improve support to its global customer base.
"This bolt-on acquisition is a strategic move that not only expands our global footprint but also fills key market white spots. This acquisition aligns with our vision to enhance innovation and deliver unparalleled value to our customers worldwide," said Jesse Henson, President of ABB's NEMA Division. "By integrating Aurora Motors expertise, we are poised to accelerate growth and redefine industry standards, ensuring long-term success for our stakeholders."
"Combining Aurora's extensive experience and expertise in the vertical pump motor sector with ABB's top-tier operations and commitment to excellence in the industry is genuinely thrilling!" said Conroy Shum, President of Aurora Motors.
The global NEMA motor industry, roughly $3.4 billion in size*, comprises industrial electric motors primarily used within North America. NEMA motors are essential components used to run equipment in industries such as food and beverage, oil and gas, mining & aggregate, and water and wastewater and in applications like those which move air, liquids, and units.
