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Manufacturer Regal Beloit Corp. (NYSE: RBC), Beloit, WI, said it will sell its highly engineered drives and control systems business, Regal Drive Technologies, to an affiliate of Sun Capital Partners, Inc. Terms of the deal were not disclosed.
The business will generate roughly $131 million in 2018 and has 450 employees around the world. The deal is expected to close by the end of the first quarter of 2019. Regal Beloit Chairman and CEO Mark Gliebe said the sale will allow Regal Beloit to focus on its core business, manufacturing electric motors, electrical motion controls, power generation and power transmission products.