GE Energy to acquire several business units from S.D. Myers
Jun 21, 2004 10:26 AM
All acquisitions involve transformer and substation services
GE Energy recently signed a definitive agreement to acquire the assets of three business units from S.D. Myers, a Tallmadge, Ohio-based supplier of services for transformers and substations. The also company signed another agreement to acquire the assets of Fluidex Engineering, a South African manufacturer and exporter of transformer oil, which is owned indirectly by the Myers family that owns S.D. Myers.
The three units in the first agreement are Ohio Transformer, a repair, rewind, and re-manufacturing service for transformers; S.D. Myers Substation Services, a supplier of field services for substation maintenance like fluid services, mechanical services, and load tap changer maintenance; and S.D. Myers Engineered Transformer Products, a company that provides oil reclamation systems, dry-out solutions, and oil-cooling systems for transformers.
The two acquisitions are expected to close within the next few months and may close independently of one another.
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