Pertron Controls, a Chatsworth-based maker of computerized welding controls, has been bought by electronics conglomerate Square D for an undisclosed amount of cash, the companies announced Monday.
Pertron makes equipment used in factory automation systems, an area in which Square D, based in suburban Chicago, has been expanding. Pertron employs 180, including 140 in Chatsworth and 40 in Troy, Mich.
J. Kirk Matthews, Pertron's president and largest individual stockholder, said the agreement specifies that Square D will not move Pertron. He said he will continue as president and no changes in operations are expected.
Officials with both companies disclosed few details about the sale, except to say that Square D originally approached Pertron about a year ago and that the final agreement was signed last Thursday. Pertron, a privately held company, has annual sales of more than $10 million, Matthews said.
Founded in Van Nuys in 1975, Pertron later moved to Canoga Park. It was based there until last year, when it moved into larger quarters in Chatsworth. The company has been listed several times in Inc. magazine's survey of the nation's 500 fastest-growing, privately held companies.
Square D, based in Palatine, Ill., earned $102.4 million in 1985, on sales of $1.3 billion.