Fort Worth firm acquires power generation and distribution equipment manufacturer

Fort Worth-based AZZ Inc. (NYSE: AZZ),announced Sept. 6 it has acquired all the assets and outstanding shares of Powergrid Solutions Inc., a privately held company, based in Oshkosh, Wisconsin. PSI designs, engineers and manufactures customized low and medium-voltage power quality, power generation and distribution equipment. PSI’s product portfolio includes metal-enclosed, metal-clad and padmount switchgear, serving the utility, commercial, industrial and renewable energy markets since 1982. Terms of the transaction were not disclosed.

“The acquisition of PSI is a key addition to our electrical

switchgear portfolio,” said Ken Lavelle, president and general manager of AZZ Electrical Systems. “The addition of PSI’s low-voltage and padmount switchgear allows AZZ to offer a comprehensive portfolio of customized switchgear solutions to both existing and new customers in a diverse set of industries. We expect the acquisition to be accretive to earnings within the first year of operation.”