Bemag designs and manufactures low and medium voltage dry-type transformers and custom magnetics for the commercial and industrial segments of the North American electrical equipment market.
Pioneer chairman and CEO Nathan Mazurek said the addition of Bemag brings almost all the elements Pioneer looks for in a successful acquisition and business integration – an excellent brand reputation, extension of the company’s product range, engineering expertise and a strategic fit that will yield significant cost savings and new revenue opportunities across its existing businesses.
"The transaction exemplifies the execution of our growth strategy, including the fact that it is expected to be immediately accretive to our earnings per share, excluding one-time transaction costs," Mazurek said.
Pioneer is a manufacturer of specialty electrical equipment and service provider to the utility, industrial, commercial and wind energy markets.
