Completion Of Acquisition
GE acquires remainder of Allen Gears; to integrate industrial gear business into Lufkin’s power transmission division
GE Oil & Gas has signed an agreement to acquire Allen Gearing Solutions (Allen Gears), a privately held designer, manufacturer and service provider of gears for industrial and marine applications.
The move comes two years after GE acquired a 35% minority interest in the business.
Allen Gears produces high-speed, high-power gearing solutions specializing in “epicyclic” gears that are lighter, more compact and typically have a higher power density than more traditional parallel shaft gear systems, the company said. Epicyclic gears are desirable in industrial and marine applications that require smaller footprints, Allen Gears said.
Currently, Allen Gears’ primary markets include Europe, the U.S, Japan, Brazil, South Africa and South Korea, with an emphasis on industrial segments including power generation, oil and gas, hydroelectric, marine and nuclear energy.
Allen Gears – with one manufacturing facility in Pershore, U.K. – will be integrated into the Power Transmission division of GE’s Texas, U.S.A.-based Lufkin business, a supplier of artificial lift and industrial gears technology for the oil and gas industry.