TORONTO, CANADA and TEL AVIV, ISRAEL – Northern Transformer Corporation, a Toronto-based of power transformer manufacturer announced the acquisition of the North American brand, products and designs of Israel’s VRT Power Ltd.
Terms of the transaction were not disclosed.
VRT Power has more than 300 utility grade power transformers and mobile substations installed in North America.
“This acquisition is perfectly aligned with our strategy and enables Northern Transformer to bring immediate benefits to our clients”, said Alexei Miecznikowski, CEO of Northern Transformer.
“VRT Power is delighted to find a strong partner in North America to continue to serve our loyal clients with the reliable, innovative and bespoke products they need. VRT Power has already started working closely with Northern Transformer to ensure a successful transfer”, said Stephen Lord, Executive Chairman of VRT Power Ltd.
Source: Northern Transformer