Powell Industries buys Switchgear & Instrumentation for $18.4 million

Powell Industries Inc. reports that it has completed its acquisition of U.K.-based Switchgear & Instrumentation (S&I) Ltd., a division of NG Bailey Organisation (NGBO) Ltd. for $18.4 million in cash. The purchase includes S&I’s fixed assets and select working capital. The transaction is being financed with a portion of Powell’s existing cash and bank debt. The decision to sell S&I after over 40 years of ownership reportedly was triggered after NGBO recently refined its future direction, strategy, and priorities.

S&I reportedly is the U.K.’s leading supplier of medium- and low-voltage switchgear, intelligent motor control systems, and power distribution solutions to many process industries, including oil, gas, petrochemical, power generation and distribution, heavy industry, pharmaceuticals, and water/wastewater treatment. Driven by the highly complex requirements of its target markets, in particular the oil, gas and petrochemical sectors, S&I’s intelligent solutions reportedly offer the most flexible and technically advanced production, control and monitoring functions available.

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