News Article
Advanced Energy Expands With Acquisition of AEG Product Line
Advanced Energy Industries, Inc has announced it has acquired the assets of AEG Power Solutions GmbH line of Power Control Modules.
Owned by 3WPower, AEG PS's Power Control Modules business is the second largest supplier in its served market. It is comprised of the Thyro-Family of products and accessories and serves numerous power control applications in different industries ranging from materials thermal processing through chemical processing, glass manufacturing and numerous other general industrial power applications.
AEG's advanced Power Control Modules provide precision power control through advanced communication and control algorithms. The Thyro-Family product line offers clean and controlled power combined with extensive technical and applications support. This acquisition is expected to accelerate Advanced Energy's revenue and profitability over time.
"Consistent with our strategy to diversify our Thin Film industrial applications and outsource manufacturing, the acquisition of AEG's Thyro Family today adds yet another product line to our strong and growing power conversion portfolio," said Yuval Wasserman, President of Thin Films. "These products complement our existing offerings by allowing us to enter new power control applications and grow our presence in precision power delivery markets where precise measurement and control are required."
Under the agreement, Advanced Energy has acquired the Power Control Module product line for €22 million in cash plus a one year earn-out of up to €1 million, payable in cash, if the EBITDA target for the product line is met in the first 12 months after closing.
