Manufacturer of miniature drives about to be taken over

The Canadian company Hanbay, Inc - a manufacturer of miniature electric drives - is about to be taken over. The possible buyer is Rotork, a global supplier of industrial drive and flow control systems. The pending acquisition is part of Rotork's growth strategy. This aims to achieve mid to high single-digit growth and adjusted operating margins over time.

Hanbay offers miniature actuators with a compact profile and high torque for use with small valves and instrumentation fittings for hazardous and non-hazardous applications.

“This is an exciting new technology platform for us as electric actuation of small valves represents a major market opportunity for Rotork as this market segment is currently dominated by small pneumatic actuators”, says Kiet Huynh, CEO of Rotork. “Hanbay's products will benefit from the electrification megatrend and fit all our end markets, including decarbonisation.”