Fuji Electric has signed an agreement to acquire turbine and power plant service business and subsidiaries of US-based RTS Holdings, for an undisclosed amount.
Signed by the Fuji Electric’s US subsidiary, the agreement also includes RTS’ subsidiaries headquartered in Sullivan, Missouri, US, and serving the North, Central, and South American markets.
The deal is a part of the company’s effort to expand its energy-related businesses by acquiring strategically placed regional businesses abroad.
Fuji Electric Corp. of America president and CEO Phil Charatz said: "This acquisition will serve to expand Fuji Electric’s power generation business in the Americas and strengthen our ability to capture new orders for power production equipment as existing equipment requires replacement.
"The specialized knowledge, techniques, and equipment that will be gained will enable us to quickly deploy service personnel for inspections, repairs, and maintenance calls, thus reducing downtime."
In addition to boosting the company’s service capabilities, the RTS acquisition is expected to expand its existing service area and network while addressing the growing demand for maintenance and repair services.
Founded in 1984, RTS is focused on repairing and maintaining steam turbines and generators as well as their peripheral devices.
After completion of the acquisition scheduled for this month, RTS will be fully owned by Fuji Electric, and intends to continue providing the same repair and maintenance services.