Florida co. acquires Limington manufacturer
Aerox, a Limington-based manufacturer of aviation oxygen systems, is expected to grow within the next few years after its recent acquisition by a company in Florida.
Shaw Development, a Bonita Springs, Fla.-based maker of fuel system components, announced its acquisition of Aerox on Wednesday. Financial details of the deal are not being disclosed.
Andy Devlin, senior director at Aerox, told Mainebiz that Aerox, which was founded in 1981, will retain its approximately 11 employees, with the intention to grow the company and hire more people.
“It’s our intent to grow,” he said. “We have a five-year plan where our goal is to triple the size of the business — and that’s for real. There’s so much potential here.”
Devlin, who recently transferred to Aerox from Shaw Development, said with the acquisition of Aerox, which designs and manufacturers aviation oxygen systems, the company will be able to expand within the aerospace, transportation and other markets.
Shaw Development engineers and manufactures fuel system components for heavy duty vehicles for Caterpillar, John Deere and other companies. It also provides components for military tactical vehicles manufactured by BAE Systems and General Dynamics.
“Aerox has developed market-leading intellectual property and an enviable brand for superlative customer service in the aerospace market,” Kevin Hawkesworth, president and CEO of Shaw Development, said in a prepared statement. “Shaw Development has achieved the same in ground vehicles and industrial markets leading to tremendous synergies through this acquisition.”
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