Central and Eastern Europe-focused private equity fund manager ARX Equity Partners has exited its investment in Czech Republic-based electric motor manufacturer VUES Brno to Moog, a US-based developer of aircraft, defense system and industrial machinery components, for EUR53 million (approximately US$65 million). ARX originally invested in VUES in 2006 and reportedly generated an 11.8x cash-on-cash return multiple and an IRR of more than 30 percent at exit.