CARY, N.C.—Lord Corp. has acquired the assets of Stellar Technology Inc. to bolster its existing capabilities in sensing systems and motion control technologies.
Stellar designs and manufactures custom sensing products for the oil and gas, aerospace, industrial and other markets.
The transaction will position the product lines of Lord and Stellar for quicker technology commercialization across their respective markets, Lord said. It added that it will leverage the innovative capabilities of Stellar for expansion into new markets and regions, with an emphasis on the oil and gas segment.
Stellar, founded in 1991, is based in Amherst, N.Y., where it has an engineering and manufacturing facility. It also has a sales and marketing center in Columbus, Ohio, and regional sales offices in Houston, Salt Lake City and Cleveland.
It will continue to operate out of its current locations, Lord said, and Stellar's work force of more than 150 will be retained.
Lord said Stellar's pressure, load, force, torque, displacement and temperature products are complementary to its existing capabilities in sensing systems and motion control technologies.
“We are excited about this acquisition and the growth opportunities it affords us in increasing our competitiveness in sensing systems through additional industry and application knowledge and a proven history in providing solutions for critical applications,” according to Ed Auslander, president and CEO of Lord.
Stellar President Bob Haefner said Lord will give the company the resources that will help it achieve growth and market excellence.
“Having a common business philosophy to bring innovative solutions and value to our customers' products and serving similar markets, Stellar will realize immediate growth both in technology and market opportunities,” he said.