Power Survey and Equipment Ltd., a leading manufacturer of power quality systems, has acquired Alameda, California based Power Standards Lab Inc. (PSL), with its global expertise in power quality, energy monitoring, and data analysis. Financial terms were not disclosed.
Power Survey is backed by Investissement Québec (IQ), EnerTech Capital, and strategic investors, GE Energy, S&C Electric Company, and PowerSecure International.
The acquisition is funded by a new round of financing led by the strategic investors.
With the acquisition, Power Survey will provide end-to-end electric power quality solutions to Commercial and Industrial (C&I) customers, utilities, and government agencies. Global customers will now benefit from a unified set of monitoring, diagnosing, trending, and mitigation capabilities that solve power quality disturbances.
“PSL’s strong reputation in the industry complements our own, and PSL brings new solutions that immediately benefit our customers,” said Mario Barbaresso, President and CEO of Power Survey. “The USD $24 million funding we received is a strong investor endorsement of our vision to provide global customers with a complete power quality solution.”
“We have world-leading knowledge about power quality measurements, standards, and technology,” said Alex McEachern, President and CEO of Power Standards Lab. “And now, joining together with Power Survey, we can actually help solve the problems we diagnose. That’s great, both for us and for our customers!”
Barbaresso will lead both companies, and Alex McEachern will partner with him as the Founder of PSL. The combined companies will continue to operate at their respective locations in Montreal, Quebec, and Alameda, California.
photo credit: Power Standards Lab Inc.