Canada, Ontario, Guelph: Hammond Power Solutions (HPS) has completed its acquisition of AEG Power Solutions for approximately $258 M (CAD $365 M), following receipt of all required regulatory approvals.
The transaction marks a major step in HPS’s strategy to expand beyond its transformer-led foundation and strengthen its position across the wider electrical value chain.
According to HPS, the acquisition provides a global platform for growth in power quality, power conversion solutions and services. It also expands the company’s technology portfolio, service capabilities and international reach.
HPS CEO Adrian Thomas said the transaction strengthens the company’s ability to support customers operating in increasingly performance-critical electrical environments.
As part of this shift, HPS is introducing Integrated Electrical Solutions (IES), a new business unit focused on more complete system-level offerings. The unit will be anchored by AEG Power Solutions and supported by elements of HPS’s existing power quality portfolio.
IES will bring together capabilities across magnetics, power quality, power conversion, critical power, controls and service, building on HPS’s existing transformer base.
Following the acquisition, HPS will operate and report through two business units: Transformers and Integrated Electrical Solutions.
AEG Power Solutions CEO Franck Audrain said joining HPS gives AEGPS greater scale, broader market access and the opportunity to bring its capabilities to more customers and applications.
Source: Hammond Power Solutions
