Powell Industries, Inc. announced a definitive agreement to acquire Remsdaq Ltd., a U.K.-based manufacturer specializing in Remote Terminal Units (RTUs) for electrical substation control and automation. The total consideration for the acquisition is approximately $16.3 million U.S. Dollars (£12.2 million British Pounds Sterling), to be funded with cash on hand.
This acquisition is a strategic step for Powell, aimed at expanding its electrical automation platform capabilities. By combining Powell’s hardware and detection sensors with Remsdaq’s Supervisory Control and Data Acquisition (SCADA) RTUs, the company expects to create a highly synergistic integration. This integration is designed to meet the growing demand for sophisticated solutions that enhance utility operational efficiency, system reliability, and security.
Management anticipates the transaction to close during the fourth quarter of fiscal 2025, subject to customary closing conditions. The addition of Remsdaq's proven hardware and software solutions, with its established presence in the regulated utility market, is expected to enable Powell to offer a '100% Powell-built solution' to the utility market, strengthening its competitive position.
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