WASP expansion into Switchgear
Taking the existing fuel polishing, filtration and Sidestream divisions and adding low and medium voltage switchgear and monitoring devices. Critical power services and solutions to make facilities more resilient and more energy efficient
- (1888PressRelease) March 21, 2022 - WASP PFS Limited (“WASP”) is pleased to announce the expansion of its North American Power Division with the acquisition of Critical Power Equipment & Solutions Inc. (“CPES”), a leader in switchgear, switchboards, controls, and prime and backup power solutions. CPES provides a full range of low voltage and medium voltage solutions to connect, protect, control and measure a wide range of electrical applications, enclosures, switchboards, electronics and electromechanical devices. CPES increases reliability and capability of its customers’ facilities and sites across all major industries with a full service turn-key solution and support anywhere in the world. By combining market leading technology and cutting-edge engineering, CPES offers LV switchgear ranging from 600-10,000A and 5KV-38KV MV solutions, from retrofits of existing infrastructure to the complete planning, design and install of new switchgear systems and critical electrical projects, offering users the capability to view power and energy efficiency data, power availability with flexible and reliable remote monitoring from anywhere in the world.
WASP was founded in 2011 and is a leader in fuel technology and critical power solutions and counts most of the world’s largest global internet and technology giants, datacentre groups, governments, militaries, hospitals, banks and telecoms groups amongst their customers. The combined business will be renamed WASP Technologies and trade under two new divisions, WASP Critical Power Solutions & WASP Fuel Technologies, with a range of solutions extending across custom switchgear, automatic transfer switch panels, uninterruptible power supply, remote power panels, motor control systems, distribution panels, PLC programming, control enclosures and generator controls, hipot testing, custom busbar installation and infrared technology in addition to WASP’s fuel technology solutions.
WASP Technologies will sell products into at least 75 countries around the globe with forecast combined revenues in excess of $50m per annum, manufacturing facilities across two continents, a global network of 25 primary distributors and a exceptional combined team of global domain experts across all elements of critical power technology. The acquisition of CPES marks WASP’s fifth M&A transaction in the past 2 years reflecting the business’ ambition and commitment to be a leader in the critical power technology sector. With immediate effect Luke Colwell will be appointed Vice President of WASP Critical Power Solutions.
Deal terms were not disclosed but the acquisition is immediately earnings accretive.
Luke Colwell, Vice President WASP Critical Power Solutions said; “CPES is delighted to be joining WASP’s fast growing international business. With WASP’s global distribution network, financial strength and depth of technical expertise we look forward to the continuing exponential growth of the business and enhanced ability to serve our global datacentre customers’ needs.”
Richard Massara, Technical Director at WASP Technologies said “I am delighted to welcome the CPES team into the WASP family. The opportunity to offer CPES’s exceptional suite of products and services to our partners around the world along with the addition of CPES’s exceptional technical and engineering talent and know-how to the team, is a truly compelling opportunity on a global scale.”
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