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Siemens Closes Acquisition of US Manufacturer Russelectric
ATLANTA–Siemens has closed the acquisition of Massachusetts-based Russelectric®, a U.S. manufacturer of power control systems that include paralleling switchgear and automatic transfer switches.
The transaction, first announced in early October 2018, brings together the companies’ complementary electrical power portfolios and service organizations. Their combined efforts are expected to help better address growing power reliability, security, and affordability needs across critical markets like data centers, public infrastructure, and healthcare.
Russelectric’s 400 employees across its manufacturing hubs in Hingham, Massachusetts, and Broken Arrow, Oklahoma will expand Siemens’ existing U.S. footprint of more than 50 manufacturing, R&D, and digital hubs and its 50,000 U.S. employees.
“We’re thrilled to officially welcome Russelectric to the Siemens family with the closing of this acquisition,” said Barry Powell, vice president and business unit head, Siemens Low Voltage & Products, North America, in a press release. “Our teams are ready to work together across the low voltage power market to provide technologies that ensure critical installations receive uninterrupted, secure power.”
Russelectric will operate as “Russelectric, A Siemens Business.” Terms of the transaction were not disclosed.
“Today marks the turning of a page in the history of Russelectric, starting of a new chapter of growth in our current markets, as well as outside of them,” said Dorian Alexandrescu, president and CEO of Russelectric Inc. “The synergies with Siemens are significant, and we are all looking forward to seeing them come to life as part of the new organization.”
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation, and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a major supplier of systems for power generation and transmission, as well as medical diagnosis.
Russelectric (www.russelectric.com), founded in 1955, provides high-integrity power control solutions for mission critical applications in the healthcare, information technology, telecommunication, water treatment, and renewable energy markets. The company maintains vertically-integrated manufacturing facilities in Massachusetts and Oklahoma, where it designs and builds a full line of automatic transfer switches, switchgear, and controls.
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