To enhance its position in the core low-voltage sector, Schneider Electric reported July 27 that it's agreed acquire Asco Power Technologies for $1.25 billion in an all-cash transaction. Buying the automatic transfer switch (ATS) manufacturer is expected to enhance Schneider Electric’s EcoStruxure Power Platform in key markets and segments.
The acquisition is subject to customary regulatory approvals, and is expected to close by the end of 2017. Afterwards, Asco will form part of the Schneider Electric Building business for low-voltage products.
Asco presently employs 2,000 people, mainly in North America, and operates seven manufacturing sites. Founded in Baltimore, Asco has a long history in power management, first introducing ATS in 1925, and later expanding into surge, loadbanks, and fire pump and control applications. Its products are sold under the brands of Asco, Firetrol, Avtron and Froment. Since December 2016, Asco has been operating as an autonomous part of Vertiv, which was formerly Emerson Network Power.
"Asco brings to Schneider Electric a well-recognized brand in North America, a strong level of know-how, prescription skills and network and a diversified customer base," says Jean-Pascal Tricoire, chairman and CEO of Schneider Electric. "Its leading position in ATS in North America complements our current offer in power distribution equipment in North America, and it reinforces Schneider Electric’s global leadership in energy management. With ASCO, we're enhancing our EcoStruxure Power management capabilities. This will help us to offer the most advanced solutions and technologies for critical buildings in a more decentralized world market with natural growth as more commercial and industrial customers move towards autonomous or multi-source energy management.”