Regal Beloit buys Texas manufacturer
BELOIT—Regal Beloit Corporation announced Friday afternoon that it had acquired Hy-Bon Engineering Company of Midland, Texas, according to a news release from Regal Beloit.
Hy-Bon specializes in the design and fabrication of compressors to low pressure gas streams. The equipment everywhere from oilfields to landfills, according to the company's website.
Mark Gliebe, chairman and CEO of Regal Beloit described the acquisition as a “strategic addition” that will allow the company to “further grow both businesses with stronger combined sales and service infrastructure.”
Hy-Bon has revenues of approximately $57 million, according to the news release. Regal Beloit builds electrical motors, mechanical and electrical motion controls and power generation products.