By: Sharon Aron Baron
Japanese motor manufacturer Nidec has acquired privately-owned US motor controls producer KB Electronics of Coral Springs for an undisclosed sum.
Founded in 1967, KB was originally based in New York, but relocated to a new manufacturing center in the Corporate Park in Coral Springs in 1995. They employ close to 200 people and in September 2014 had sales worth $23 million.
Nidec Motor Corporation, established in 1973 and headquartered in St. Louis, MO., is developing new growth platforms in the automotive, appliance, commercial and industrial markets. KB offers a full line of controls for AC and DC motors, primarily used for industrial automation, heating, ventilating and air conditioning systems.
Michael Neider, former Vice President, now President, said “We are excited about the sale of the Company to Nidec and the potential corporate expansion it will bring to the Company and the City of Coral Springs.”
“KB’s people and products do an excellent job of delivering what their customers really want: quality, customization, and simple-to-use products,” Nidec President and CEO Kei Pang said. “With this acquisition, we have the ability to provide a variable speed solution for every motor we offer.”
On October 12, the City of Coral Springs welcomed Mr. Shigenobu Nagamori, Founder and CEO of Nidec Motor Corporation, to the Corporate Park of Coral Springs. The Mayor, Skip Campbell, and City Manager, Erdal Donmez presented Mr. Nagamori with a special recognition at a ceremony held at KB which was attended by all 200 KB employees.
“I was truly impressed with Mr. Nagamori’s enthusiasm and devotion to his company. We look forward to having this asset in our community and welcome them to the growing number of international companies that are making Coral Springs their home in the United States,” said Campbell.