PowerVolt Group has completed the acquisition of Indiana Transformer, located in Addison, Illinois. PowerVolt Group is a manufacturer of magnetic components, standard/off-the-shelf power transformers, custom transformers, isolation, control and other industrial transformers up to 40KVA and Class 2 transformers up to 100VA. We also manufacture linear DC power supplies for the North American and European markets. We serve over 34 industries in North America, Europe, China and India. The addition of Indiana Transformer will allow us to grow the breadth of industries, including military, audio, visual, welding equipment and other specialized industries, add new customers and grow our capabilities.
This acquisition meets PowerVolt’s strategic goals of annual growth and diversification of product lines and industries served. The acquisition helps us expand our operational facilities and office space required. The expansion started mid-2016 and is set to be complete by 12/2016.
This is the fourth acquisition that PowerVolt has completed since 2002. Since 2008 PowerVolt has increased revenue five-fold and we continue to target high growth opportunities and increase our labor force and investment into capital equipment.
Operations and engineering personnel will be relocating to our Addison, Illinois facility. We are committed to grow our businesses in North America and increase job opportunities in the Midwest, including Illinois and Iowa.