Pioneer Critical Power, a wholly-owned company of US-based electrical transformer manufacturer Pioneer Power Solutions, has completed the acquisition of Power Systems Solutions (PSS).
The value of the deal was not disclosed.
PSS supplies highly specified and engineered paralleling switchgears and generator controls for the electrical power generation industry and provide its customers with on-site power controls, switchgears and remote monitoring capabilities to maintain reliable emergency standby power.
In addition, the company also offer utilities with paralleling and soft loading equipment to help parallel multiple generators with the utility power grid for peakshaving and demand or load side management of electricity.
Pioneer chairman and chief executive officer Nathan Mazurek said the deal has provided the company with a new investment opportunity in the growing markets of backup power and distributed generation.
"Although PSSI’s revenue contribution will not be material to us initially, over time we expect it to bring Pioneer increased revenue diversity and opportunities with existing customers, while elevating the technical sophistication of our portfolio with new high value products," Mazurek added.
Post acquisition, PSS founder George Moothedan will serve as the general manager of Pioneer Critical Power.