From Crain’s Detroit: East Aurora, N.Y.-based Moog Inc. has sold Livonia-based Linear AMS Inc. back to the subsidiary’s founder and a partner after owning the additive manufacturing company for less than two years.
Founder John Tenbusch acquired 80 percent and Director of Tooling and Manufacturing Lou Young acquired a 20 percent share. The deal closed July 19, Tenbusch told Crain’s in an email.
The partners purchased the company for an undisclosed amount after Moog announced in April that it would slash 40 jobs and relocate the unit to Moog’s headquarters. Detroit-based Kerr Russell [John Gatti] served as the legal representatives for the buyers in the acquisition.
The deal will retain 70 jobs at the plant, Tenbusch said. He plans to add more jobs and grow 10 percent annually, while focusing on mold building, prototyping and low-volume production of injection-molded parts for automotive and other companies.
Linear will work with community colleges and universities for apprenticeship and skilled trades training, the news release said.
Tenbusch founded the company in 2003 as Linear Mold & Engineering, but will retain the company’s current name.