Global Power Equipment Group plans to acquire Siemens


Texas-based, Global Power Equipment Group plans to acquire Siemens' eHouse Manufacturing

Wednesday, Feb 18, 2015

Global Power Equipment Group Inc. announced today its plans to acquire substantially all of the assets of Siemens' eHouse manufacturing operations, a part of its Medium Voltage Business Unit, through its subsidiary Koontz-Wagner Custom Controls Holdings, LLC. The acquisition is subject to customary closing conditions and is expected to close by February 27, 2015.

Located in Houston, Siemens' eHouse operational plant manufactures and assembles power equipment centers (PECs) - or eHouses - for low- and medium-voltage switchgear, motor control center equipment, SCADA and other auxiliary equipment for a variety of industries. Siemens will continue to develop and provide products and services for this market by focusing on supplying the highly-technical electric distribution gear.

Luis Manuel Ramírez, President and CEO of Global Power, commented, ""We are very excited to expand our capabilities into the Houston area as this is one of our key initiatives in pursuing our strategy to further align our company with growth along the energy value chain. The acquisition of Siemens' eHouse business is an excellent strategic fit for Global Power, as it will serve as a platform to provide our customers with integrated solutions and expand our product and service portfolio. I am confident that the combined experience of our business teams will position our company with a strategic advantage, enabling us to leverage our capacity, expertise, and quality initiatives as we continue our expansion in the energy sector."


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