HPS Completes Asset Purchase of Micron Industries Corporation
December 3, 2024
HPS Completes Asset Purchase of Micron Industries Corporation
Hammond Power Solutions (HPS) has announced that it has completed the previously announced acquisition of assets relating to the operations of Micron Industries Corporation, a company based in the United States. The acquisition is structured as an asset purchase through HPS’ U.S. subsidiary. HPS will continue to operate the Micron Industries assets and continue to market the branded product offerings as previously sold by Micron Industries.
“We are excited to welcome Micron Industries into the HPS family. The combined expertise of our teams is a significant step forward in our growth strategy to offer an even broader array of innovative solutions to our customers and strengthen our reputation for high quality products and services, especially within our OEM markets,” said Adrian Thomas, CEO of HPS.
“Industrial control transformers are essential for protecting sensitive equipment and align with our focus on power quality solutions. With rising demand for US-made products in energy efficiency and automation projects, integrating Micron Industries into HPS is expected to enhance our ability to meet this growing market. Micron’s US-based manufacturing strengthens our service to customers across the US and North America, supporting our domestic growth and industrialization efforts.”
“We are thrilled to join forces with HPS,” said Norm Bates, CEO of Micron Industries. “Our shared vision and commitment to excellence make this combination an ideal fit. Together, we will be able to deliver unparalleled value to our customers and drive future growth.”
ABOUT MICRON INDUSTRIES CORPORATION
Micron Industries is the leading supplier of control transformers, serving OEMs and control system builders since 1971. Micron Industries also offers low voltage transformers and DC power supplies. With a state-of-the-art manufacturing facility, Micron provides unmatched quality and flexibility for custom orders. Micron Industries is committed to understanding the customer’s specific requirements, delivering defect-free products on time, and offering industry-leading support with the shortest lead times.
Read the full press release here
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Hammond Power Solutions Signs Definitive Agreement to Acquire Assets of Micron Industries Corporation
Hammond Power Solutions Inc., a leading manufacturer of dry-type transformers and power quality solutions, announced on September 23, 2024, that it has entered into a definitive agreement to acquire the assets relating to the operations of Micron Industries Corporation (“Micron Industries”), a company based in the United States. Micron Industries is a leading 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.
