M&A Deal Summary

Sumitomo Drive Technologies Acquires LufTex Gears

On December 18, 2019, Sumitomo Drive Technologies acquired machinery company LufTex Gears

Acquisition Highlights
  • This is Sumitomo Drive Technologies’ 1st transaction in the Machinery sector.
  • This is Sumitomo Drive Technologies’ 1st transaction in the United States.
  • This is Sumitomo Drive Technologies’ 1st transaction in Texas.

M&A Deal Summary

Date 2019-12-18
Target LufTex Gears
Sector Machinery
Buyer(s) Sumitomo Drive Technologies
Deal Type Add-on Acquisition

Target

LufTex Gears

Lufkin, Texas, United States
LufTex Gears is a provider of aftermarket repairs and services for all brands of industrial gearboxes and is based in Lufkin, Texas.

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Buyer(S) 1

Buyer

Sumitomo Drive Technologies

Chesapeake, Virginia, United States

Category Company
Founded 1966
Sector Electrical Equipment
DESCRIPTION

Sumitomo Drive Technologies is a manufacturer of power transmission and control products including gear motors and industrial gearboxes. Sumitomo Drive Technologies was founded in 1966 and is based in Chesapeake, Virginia.


DEAL STATS #
Overall 1 of 1
Sector: Machinery M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1