Powell Industries, a leading provider of custom-engineered solutions for electrical energy management, control, and distribution, has announced it has entered into a definitive agreement to acquire Remsdaq for approximately $16.3 million (or £12.2 million). Remsdaq, based in the U.K., manufactures Remote Terminal Units (RTUs) for electrical substation control and automation across the generation, transmission, and distribution sectors.
This acquisition significantly enhances Powell’s strategic initiative to expand its automation platform capabilities. The integration of Powell’s robust hardware and detection sensors with Remsdaq’s Supervisory Control and Data Acquisition (SCADA) RTUs creates a highly synergistic partnership. This positions Powell to effectively address the growing demand for more advanced solutions that improve utility operational efficiency, system reliability, and security.
The total consideration for the transaction is based on an enterprise value of £12.2 million and will be funded with cash on hand. This includes an upfront payment of £9.2 million, with the remaining amount contingent upon Remsdaq achieving specific technical and financial milestones. Management anticipates that the transaction will close during the fourth quarter of fiscal 2025, subject to customary closing conditions. Upon completion, Remsdaq will become a wholly-owned subsidiary of Powell (U.K.) Ltd.
KEY QUOTES:
“We are excited to be joining a globally recognized leader in electrical distribution and control like Powell at such a pivotal time for the industry. Powell’s customer-centric philosophy and culture not only complements their market leadership and scale within the Electric Utility space but also aligns closely with our own values and approach. This deep technological and cultural alignment creates an outstanding platform for our products and services. We are eager to see our combined resources address the growing demand for digital automation solutions.”
Ray Colston, Managing Director of Remsdaq
“The addition of Remsdaq’s people and technology are an important step towards our strategy to grow our Electrical Automation solutions. Remsdaq has proven hardware and software solutions that have a long-established presence in the regulated utility market. The combination of our respective capabilities will allow us to provide our customers with enhanced automation solutions and valuable predictive analytics that will help to preserve and extend the life of their capital equipment – a growing and underserved demand within the Electrical industry. We’re very excited to welcome the Remsdaq team to Powell.”
Brett A. Cope, Powell’s Chairman and Chief Executive Officer
