PowerVolt Group acquires Indiana Transformer
ADDISON -- PowerVolt Group announced it has acquired Indiana Transformer in Addison for an undisclosed sum.
PowerVolt Group, which consists of PowerVolt in Addison; Ensign Corp in Bellevue, Iowa; and Wabash Transformer in Clarence, Iowa, is a manufacturer of magnetic components, standard/off-the-shelf power transformers, custom transformers, isolation, control and other industrial transformers up to 40 kVA and Class 2 transformers up to 100VA. The company serves more than 34 industries in North America, Europe, China and India.
The addition of Indiana Transformer will allow PowerVolt to grow the breadth of industries, including military, audio, visual, welding equipment and other specialized industries, add new customers and grow capabilities.
As a result of the acquisition, the company is expanding operational facilities and office space. The expansion started mid-2016 and is set to be complete by December.
It is the fourth acquisition that PowerVolt has completed since 2002. Since 2008 PowerVolt has increased revenue fivefold and continues to target high growth opportunities and increase labor force and investment into capital equipment.
Operations and engineering personnel will be relocating to the Addison.