Sumitomo Heavy Industries, Ltd. acquires Invertek Drives Ltd.
Notice regarding the acquisition of the share capital of UK-based variable frequency drive manufacturer Invertek Drives Ltd.
September 27, 2019
Tokyo / London, 27th September 2019 – We are pleased to announce that Sumitomo Heavy Industries, Ltd. (“SHI”) has today reached an agreement to acquire the entire issued share capital of UK-based variable frequency drive manufacturer Invertek Drives Ltd. (“Invertek”).
Invertek is a global leader in variable frequency drives (VFD) and Sumitomo Heavy Industries (SHI) is a leading global manufacturer and distributor of power transmission and control (“PTC”) equipment known under the Sumitomo Drive Technologies brand.
SHI is expanding its business in terms of both portfolio and global market reach; part of this strategy was the acquisition of the Italian industrial motor manufacturer Lafert S.p.A (“Lafert”) in 2018.
Invertek’s technology and production capabilities will allow SHI to extend its product portfolio in the motor control industry which is becoming increasingly important as demand for IoT, automation, labour productivity and energy-saving technology and applications grows.
Moreover, its combination with Lafert’s motor technology will enable SHI to respond to the advanced needs of the customer, as it aims to create an integrated platform centered in Europe, the technology hub of its target market, with capabilities to provide a comprehensive range of products including gears, motors and controls.
Invertek was established in 1998, their headquarters are located in Welshpool, United Kingdom, and has sales offices in USA, China, Ireland, Germany, Spain, Poland, Czech Republic, Singapore and Malaysia.
The closing date of this transaction is anticipated in early November 2019.
Read the official announcement here.