By continuing to use this site you consent to the use of cookies on your device. Find out more about our cookie policy and the types of cookies we use by clicking here

XP Power Buys California-Based EMCO High Voltage For USD12.0 Million

LONDON (Alliance News) - XP Power Ltd said Wednesday it has acquired the business and assets of ...

Alliance News 25 November, 2015 | 7:50AM
Email Form

LONDON (Alliance News) - XP Power Ltd said Wednesday it has acquired the business and assets of EMCO High Voltage Corp in the US for a total of USD12.0 million, funded through a new USD12.0 million term debt facility.

EMCO is a designed and manufacturer of high-voltage power modules based in Northern California, and it recorded sales of USD7.9 million in 2014.

XP Power said it expects the acquisition to add to earnings per share in 2016.

"We are delighted to welcome EMCO to the XP Power Group and are excited about the opportunity of offering their products through our sales channel. The acquisition will enable us to provide our existing customers with a comprehensive product offering in high voltage technologies, a market segment with robust demand fundamentals but one in which we did not previously specialise. We are confident that EMCO will have a very successful future as part of XP Power," said Chief Executive Duncan Penny in a statement.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
XP Power Ltd 3,508.00 GBX 1.39 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.