25th Nov 2015 07:50
LONDON (Alliance News) - XP Power Ltd said Wednesday it has acquired the business and assets of EMCO High Voltage Corp in the US for a total of USD12.0 million, funded through a new USD12.0 million term debt facility.
EMCO is a designed and manufacturer of high-voltage power modules based in Northern California, and it recorded sales of USD7.9 million in 2014.
XP Power said it expects the acquisition to add to earnings per share in 2016.
"We are delighted to welcome EMCO to the XP Power Group and are excited about the opportunity of offering their products through our sales channel. The acquisition will enable us to provide our existing customers with a comprehensive product offering in high voltage technologies, a market segment with robust demand fundamentals but one in which we did not previously specialise. We are confident that EMCO will have a very successful future as part of XP Power," said Chief Executive Duncan Penny in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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