Prolec GE wraps up acquisition of SPX’s transformer solutions business
GE-Prolec Transformers (Prolec GE) has wrapped up the previously announced $645 million acquisition of the transformer solutions business of US-based SPX Corporation.
The deal was announced in June 2021.
Prolec GE is a subsidiary of a 50:50 joint venture between GE and Mexican private firm Xignux. The company offers solutions for the generation, transmission, and distribution of electrical power.
The enlarged Prolec GE following the acquisition is expected to comprehensively cater to the growing Americas market with an extended portfolio of innovative and sustainable solutions for delivering electrical energy.
SPX Transformer Solutions is a US-based manufacturer of power transformers, ranging from 5 to 1,200 MVA. The company is the maker of the Waukesha transformers and components.
Ricardo Suarez — CEO of Prolec GE said: “We are delighted to welcome the SPX Transformer Solutions team to the Prolec GE family.
“The combined talent and technical expertise of our two great teams will make us a stronger partner to our customers and enable us to better support the evolution of the electric grid in the US and the rest of the Americas.
“As always, we remain committed to delivering high quality, reliable products and services and an exceptional customer experience.”
According to Prolec GE, the shared business values, the complementary product as well as service offerings of both companies will give it a synergistic foundation.