Business
Advanced Energy Completes the Acquisition of SL Power
Expands addressable market by over $400 million Broadens AE’s reach with complementary products and customers Enhances strategy to grow in the industrial and
About this update from Advanced Energy Industries, Inc.
[{"type":"text","content":"\n\nExpands addressable market by over $400 million\n\n\nBroadens AE’s reach with complementary products and customers\n\n\nEnhances strategy to grow in the industrial and medical market\n\n\n DENVER--(BUSINESS WIRE)--\nAdvanced Energy Industries, Inc. (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement and control solutions – today announced that it completed the previously announced acquisition of SL Power Electronics Corporation from Steel Partners Holdings L.P. (NYSE: SPLP). The acquisition adds complementary products to Advanced Energy’s medical power offerings and extends its presence in several advanced industrial markets.\n\n“The addition of SL Power expands our offerings for industrial and medical applications,” said Steve Kelley, president and CEO of Advanced Energy. “I believe SL Power’s strong customer base, complementary product portfolio, and highly skilled team make it an ideal fit for Advanced Energy.”\n\nThe acquisition of SL Power Electronics is expected to be accretive to 2022 earnings on a non-GAAP basis and to generate over $4 million of annualized cost synergies. Management intends to provide more detail on the forward-looking benefits of this acquisition when it announces the first quarter financial results on May 4, 2022.\n\nAbout Advanced Energy\n\nAdvanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA.\nFor more information, visit www.advancedenergy.com.\n\nAdvanced Energy | Precision. Power. Performance.\n\nNon-GAAP Measures\n\nAdvanced Energy’s non-GAAP measures exclude the impact of non-cash related charges such as stoc...