Hammond Power Solutions (HPS) completed its acquisition of AEG Power Solutions (AEGPS) for an enterprise value of approximately CAD $365 million. The transaction received all necessary regulatory approvals.
This acquisition moves HPS beyond its transformer foundation into the broader electrical value chain. HPS aims to accelerate growth in power quality and power conversion solutions. The deal expands the company's global presence into Europe and Asia while strengthening its technology portfolio.
HPS is launching a new business unit called Integrated Electrical Solutions (IES). AEG Power Solutions will anchor this unit. IES will provide system-level solutions for the industrial, infrastructure, data center, and energy sectors.