Manufacturers

AZZ to Acquire Maryland-Based Power Electronics, Inc.

AZZ to Acquire Maryland-Based Power Electronics, Inc.

FORT WORTH, Texas — AZZ Inc. announced that it has acquired the assets and all the outstanding shares of Power Electronics, Inc. (PEI), based in Millington, Maryland.

AZZ, Inc. is a a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets. Power Electronics, Inc. is a privately held manufacturer and integrator of electrical enclosure systems, serving the utility and industrial markets with customized power control centers since 1989. Terms of the transaction were not disclosed.

Bill Estes, vice president of AZZ Electrical Systems, commented, “The acquisition of Power Electronics is a great addition to our electrical enclosure portfolio. It is consistent with our strategic initiative to grow our core business segments. With the acquisition of Power Electronics we have significantly enhanced our capacity to serve existing and new customers in a diverse set of industries along the Eastern seaboard. Additionally, by combining with Power Electronics we are better positioned to compete aggressively and more efficiently, as we can leverage our dedicated team of skilled professionals with our proven start-to-finish turnkey capabilities. We expect that the Power Electronics acquisition will be accretive to earnings within the first year of operation.”

 

Tagged with ,

Comment on the story

Your email address will not be published. Required fields are marked *