SGB-SMIT and Southwest Electric have signed an agreement for the purchase of the company “Southwest Electric Co.”. The closing of the transaction is expected to be in Q1 2025.
Southwest Electric Co., founded in 1946 and headquartered in Oklahoma City (OK), is a leading manufacturer of electrical components and transformers, as well as a provider of services in the United States. The company operates additional facilities in Tulsa (OK), Nashville (TN), and Louisville (OH). It serves various markets, including oil & gas, utilities, wind power, data centers, and other industries.
"By being acquired by an important energy equipment player like SGB-SMIT, we will be able to accelerate the achievement of our goals, promising a bright future for the entire team of Southwest Electric," said Jeff Weingarten, President of Southwest Electric.
SGB-SMIT Group, as a leading and independent transformer manufacturer with decades of experience, manufactures capital goods for power supply and is one of the global market leaders with its products. SGB-SMIT and its affiliate OTC in Louisville (OH) are already successfully serving the US market for decades with small, medium and large power transformers and related services. The acquisition will enhance SGB-SMIT's geographical presence and local transformer manufacturing portfolio in the United States.
"We welcome our new colleagues to the SGB-SMIT Group. By adding their expertise and knowledge and expanding our presence in the US, we will continue our regional growth and strengthen customer proximity and relationship," said Holger Ketterer, CEO of the SGB-SMIT Group.
The acquisition is a strategic fit for both companies, with Southwest Electric enhancing SGB-SMIT’s service staff and complementing its portfolio with specialized transformer and switchgear manufacturing.
