GUELPH, Ontario — Hammond Power Solutions Inc. announced that it has entered into a definitive agreement to acquire the assets relating to the operations of Micron Industries Corporation (“Micron Industries”), a company based in the United States. Micron Industries is a leading provider of control transformers and other electrical products and had approximately $23 million USD of revenue in 2023. Its manufacturing facility and head office are based in Sterling, Illinois.
The acquisition is structured as an asset purchase through HPS’ U.S. subsidiary and is expected to close by mid-October, subject to customary closing conditions. HPS intends to continue to operate the Micron Industries assets and to continue to market the branded product offerings previously sold by Micron Industries. The deal is valued at approximately $16 million USD.
Tagged with acquisition, Hammond Power Solutions, HPS