Advanced Energy, a USA based converter manufacturer acquired Excelsys, the specialty power conversion company for 15.5 Million Euros all in cash. Excelsys 2016 revenues are estimated at 10.6 Million Euros.
Advanced Energy changed its strategy during the last years. They acquired REFUsol back in 2013 to strengthen their position in the solar inverter world. It happened when the PV business became more and more competitive, with prices and margin dropping. This move’s objective was to reposition Advanced Energy in a more profitable position through REFUsol three-phase PV inverter product line.
Advanced Energy decided to slow down its PV inverter activity in 2015, realizing that it would be less risky and more profitable for shareholders. They decided to focus more on their core business, precision and speciality power converters. This new acquisition confirms Advanced Energy’s strategy.
Today, Excelsys is part of Advanced Energy, adding many new product lines and applications to the company, in medical, high reliability and industrial power supplies.
The official press release is available here.