ESCO Technologies Acquires Global Utility Solutions Provider
ESCO Technologies Inc. has acquired Morgan Schaffer Inc., a global utility solutions provider whose products are sold in over 90 countries to both electrical utilities with generation and transmission assets and original equipment manufacturers of large transmission transformers.
The business, which will join Doble Engineering and NRG Systems as part of ESCO’s Utilities Solutions Group operating segment, is expected to maintain operations at its current location in Montreal, Quebec, Canada. The terms of the transaction were not disclosed.
“I’m very excited about our newly expanded product, service and software offerings now available to support our electric utility customers,” Vic Richey, ESCO Technologies Chairman and Chief Executive Officer, said. “With Doble, NRG Systems and Morgan Schaffer joining forces, we can now offer a wide range of world-class solutions which, I’m confident will create additional market opportunities to enhance our corporate-wide growth strategies and further our ability to create additional shareholder value. The three companies within our USG segment create a unique and exciting growth opportunity for ESCO as each company leads their respective market with an exceptional brand, reputation, customer service focus, and strong management team.”
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