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XP Power acquires EMCO High Voltage Corporation

25 November 2015 07:45

XP Power has acquired the business and assets of EMCO High Voltage Corporation (EMCO), a designer and manufacturer of high voltage power modules (the Acquisition). Total consideration was USD12m cash.

The Acquisition is on a debt and cash free basis and was funded with a new USD12.0m term debt facility.

EMCO, based in Northern California and with manufacturing operations in Nevada, supplies the industrial and medical sectors with a broad range of standard, modified and custom high voltage products. In the fiscal year ended 31 December 2014, EMCO recorded sales of USD7.9m.

As well as a product offering suitable for an array of applications used by some of our existing customer base, EMCO will bring a number of new customers to XP Power.

The Acquisition is expected to be enhancing to the Companys earnings per share in 2016.

Story provided by StockMarketWire.com

Related Company: XPP

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