XP Power (XPP) extends its reach with interesting acquisition
The high quality designer and manufacturer of power controllers, those essential items in every piece of electrical equipment that convert power from the electricity grid into the right form for the equipment to function, has announced an interesting acquisition extending its reach into a new market segment.
The high margin Group has acquired the business and assets of EMCO High Voltage Corporation, a designer and manufacturer of high voltage power modules for a total consideration of US$12.0m (£7.8m) paid in cash on completion. The Acquisition is on a debt and cash free basis and was funded with a new US$12.0m term debt facility. EMCO, based in Northern California and with manufacturing operations in Nevada, supplies the industrial and medical sectors with a broad range of standard, modified and custom high voltage products. In the fiscal year ended 31 December 2014, EMCO recorded sales of US$7.9m (£5.1 million).…