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Local engineering firm acquired

As a result of the purchase, Palmdale-based Crissair will move to Valencia

Posted: June 30, 2013 2:00 a.m.
Updated: June 30, 2013 2:00 a.m.

Canyon Engineering Products, on Avenue Williams in Valencia, was acquired by St. Louis-based Esco Technologies.

 

A local Santa Clarita product engineering company has been purchased, and as a result, a Palmdale aerospace company will relocate to Valencia over the next 18 months.

Canyon Engineering Products Inc. of Santa Clarita has been acquired by St. Louis-based Esco Technologies Inc. The announcement was made Thursday.

Also, as a result of the purchase, Esco said it is moving its Crissair Inc. operations from Palmdale to Canyon’s 70,000 square foot manufacturing facility in Valencia. Esco acquired Crissair in 2010.

Canyon Engineering Products has 74 employees, and Crissair has some 184 employees, said a spokesperson with Canyon Engineering on Friday. She also confirmed the sale of the company to Esco.

Terms of the deal were not disclosed.

Relocation of Crissair, founded in 1954, to Valencia is due to its growth over the past two years, and the available manufacturing capacity available at Canyon. Both operations will be consolidated, Esco said in a statement. No one could be reached at Esco for further comment.

Canyon Engineering Products has an annual revenue of $12 million, Esco reported.

Founded in 1978, Canyon designs and manufactures precision fluid control devices primarily for the aerospace industry.

According to Esco, Canyon’s products, technology and customers are very similar to Crissair’s.

The purchase of Canyon Engineering Products expands Esco’s aerospace reach, said Sam Chapetta, vice president of Esco’s Filtration Group.

The acquisition of Canyon’s manufacturing facility, and consolidation of operations, will provide a foundation to speed up the strong, profitable growth Crissair has shown, Chapetta said.

“I look forward to working with the many talented employees at both companies,” he said.

ESCO supplies special-purpose utility solutions for electric, gas and water utilities.

The company also produces engineered filtration products to the aviation and aerospace markets, and is an industry leader with electromagnetic and radio frequency test facilities, and shielded enclosures for medical and security applications.

Esco’s stock closed up at $33.08 per share at close of trading after the announcement was made.

 

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