Jefferson Electric, Inc. announces that it has merged with Pioneer Power Solutions, Inc. effective April 30, 2010.
Thomas Klink, President of Jefferson, commented, “the merger with Pioneer provides Jefferson with an expanded platform and the capital it needs to grow. In particular, the combination will provide strong support for Jefferson’s ongoing expansion into the low voltage magnetics market. We anticipate that, together with Pioneer, we will form important structural and financial synergies, resulting in increased efficiencies and profitability for both companies going forward.”
Jefferson will now operate as a wholly owned subsidiary of Pioneer with Thomas Klink remaining its President. He will also serve on the Board of Directors of Pioneer.
Pioneer Power Solutions, Inc.
Jefferson Electric Inc.
Filed Under: Electronics • electrical