-
Expands addressable market by over $400 million
-
Broadens AE’s reach with complementary products and customers
-
Enhances strategy to grow in the industrial and medical market
Advanced Energy Industries, Inc. – a global leader in highly engineered, precision power conversion, measurement and control solutions – announced that it completed the previously announced acquisition of SL Power Electronics Corporation from Steel Partners Holdings L.P.. The acquisition adds complementary products to Advanced Energy’s medical power offerings and extends its presence in several advanced industrial markets.
Latest Aithority Insights: AudioCodes Is an Approved Partner for Microsoft’s Operator Connect Accelerator
“The addition of SL Power expands our offerings for industrial and medical applications”
“The addition of SL Power expands our offerings for industrial and medical applications,” said Steve Kelley, president and CEO of Advanced Energy. “I believe SL Power’s strong customer base, complementary product portfolio, and highly skilled team make it an ideal fit for Advanced Energy.”
The acquisition of SL Power Electronics is expected to be accretive to 2022 earnings on a non-GAAP basis and to generate over $4 million of annualized cost synergies. Management intends to provide more detail on the forward-looking benefits of this acquisition when it announces the first quarter financial results on May 4, 2022.
Browse The Complete News About Aithority: Fuel Cycle Selects Canvs AI as Premier Text Analytics Solution on Fuel Cycle Exchange
Advanced Energy Industries, Inc.is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA.
Read More About Aithority News : Mindtree and Sapiens Announce Partnership to Digitally Transform the Insurance Industry
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.