Dover firm acquires company in IndianaStaff Report
July 14. 2014 8:01PM
ElectroCraft, Inc., a Dover company that provides small motors for commercial and industrial uses, won’t immediately expand its workforce of 24 employees at its Seacoast headquarters after acquiring an Indiana company.
“No immediate change in the Dover workforce, but one thing we can say is the Dover location is our corporate headquarters and also our research-and-development center, so as the company expands, there will be numerous opportunities to make investments in research and development,” Tom Ouellette, ElectroCraft’s vice president of sales, said Monday.
ElectroCraft, which employs 400 worldwide, said the acquisition of Hansen Corp. of Princeton, Ind., which also makes motors, will help grow the combined company.
“It will definitely help our competitiveness and growth in the long-term,” Ouellette said.
“We didn’t compete against them directly,” he said. “They give us access to some markets and customers we didn’t have and we will them give access to some markets and customers that they didn’t have.”
Hansen will retain its name.
Ouellette declined to disclose the purchase price.
ElectroCraft has operations in the United States, Europe and Asia.
“We are pleased to welcome Hansen Corporation to the ElectroCraft family.” said Mike Karsonovich, president and chief executive officer of ElectroCraft, Inc. “Hansen has had a very successful 100-year history and is known throughout the industry for its incredibly high quality.”