Northern Transformer completes acquisition of VRT Power’s products
Northern Transformer Corporation announced the acquisition of the North American brand, products and designs of VRT Power Ltd. of Tel Aviv, Israel.
Image source: VRT Power
Canada, Toronto: Northern Transformer Corporation, a leading manufacturer of power transformers for the North American utility market based in Toronto, today announced the acquisition of the North American brand, products and designs of VRT Power Ltd. of Tel Aviv, Israel.
Terms of the transaction were not disclosed.
With more than 300 utility grade power transformers and mobile substations installed in North America, VRT Power’s best in class technology for low noise, compact footprints, tailored solutions and proven reliability is highly regarded by leading utility clients.
“This acquisition is perfectly aligned with our strategy and enables Northern Transformer to bring immediate benefits to our clients”, said Alexei Miecznikowski, CEO of Northern Transformer.
“Our vision is to provide our North American clients with unsurpassed local service, quality and technology. The acquisition of VRT Power’s technology is a key advancement in support of our vision”, said Giovanni Marcelli, Chairman of Northern Transformer.
“VRT Power is delighted to find a strong partner in North America to continue to serve our loyal clients with the reliable, innovative and bespoke products they need. VRT Power has already started working closely with Northern Transformer to ensure a successful transfer,” said Stephen Lord, Executive Chairman of VRT Power Ltd.
Source: Electric Energy Online