Schneider Electric broadens base with two acquisitions
Chicago-based Schneider Electric has expanded its corporate portfolio with the announcement of two acquisitions in the last month.
Schneider Electric has purchased the Magnecraft product range from MSD, Inc., a leading U.S. supplier of industrial relays with $14 million in sales in 2004. Schneider Electric said the acquisition will significantly broaden the company’s product offerings, making the company one of the top three global suppliers of industrial relays.
Schneider will maintain the Magnecraft brand and continue to support customers with its relay team. Industrial relays are automation components used in all types of industrial equipment to switch low currents or interface signals.
Schneider Electric has also agreed to acquire Canadian-based Power Measurement, Inc. (PMI), owned by a consortium led by GFI Energy Ventures LLC. PMI manufactures enterprise energy intelligent systems for energy suppliers, service providers, and large energy consumers.
PMI offers energy suppliers and consumers enterprise energy management systems through the integration of hardware, software, and professional services. Subject to regulatory approvals, Schneider Electric will acquire all of Power Measurement, Inc. shares. The transaction should be completed in the second quarter of 2005.