Hammond Power Solutions Signs Definitive Agreement to Acquire Assets of Micron Industries Corporation
September 23, 2024
Hammond Power Solutions Inc. has recently announced that it has entered into a definitive agreement to acquire the assets relating to the operations of Micron Industries Corporation, a company based in the United States.
Micron Industries is a provider of control transformers and other electrical products and had approximately $23 million USD of revenue in 2023. Its manufacturing facility and head office are based in Sterling, Illinois.
The acquisition is structured as an asset purchase through HPS’ U.S. subsidiary and is expected to close by mid-October, subject to customary closing conditions. HPS intends to continue to operate the Micron Industries assets and to continue to market the branded product offerings previously sold by Micron. The deal is valued at approximately $16 million USD.
For more information, visit the Hammond Power Solutions website HERE.
