Powell Industries, Inc. (POWL) has signed a definitive agreement to acquire Remsdaq Ltd. for £12.2 million British Pounds Sterling, approximately $16.3 million U.S. Dollars. The transaction, based on an enterprise value of £12.2 million, will be funded with cash on hand and is expected to close in the fourth quarter of fiscal 2025.
Upon closing, Powell (U.K.) Ltd will fully own Remsdaq as a wholly owned subsidiary. This acquisition strengthens Powell Industries’ automation platform capabilities.
A. Cope, Chairman and CEO, emphasized that integrating Remsdaq’s people and technology is a vital step in expanding their Electrical Automation solutions.
