$1bn deal makes Schneider Electric worlds’s leading smart building power switch vendor
Asco, based in Baltimore, employs 2,000 people, mainly in North America, and operates 7 manufacturing sites. Since December 2016, Asco has been operating as an autonomous part of Vertiv (formerly Emerson Network Power) and will become part of Schneider Electric’s EcoStruxure Power Platform in its Building (Low Voltage) business.
ATS automatically transfers critical loads from the primary source of power to the back-up power source in the event of a power outage. It requires compliance with specific technical regulation standards.
France-based Schneider Electric is the market leader in the ATS market in China and both companies also operate in the ATS market in the rest of the world and the acquisition makes Schneider Electric the global market leader in ATS. The market for ATS presents long-term growth opportunities as more commercial and industrial customers move towards intelligent autonomous and multi-source power management.
“Asco brings to Schneider Electric a well-recognized brand in North America, a strong level of know-how, prescription skills and network and a diversified customer base,” said Jean-Pascal Tricoire, Chairman and CEO of Schnieder Electric. “Its leading position in Automatic Transfer Switch in North America complements our current offer in power distribution equipment in North America and it reinforces Schneider Electric’s global leadership in energy management. With Asco, we are enhancing our EcoStruxure Power management capabilities. This will help us to offer the most advanced solutions and technologies for critical buildings in a more decentralized world. A market with natural growth as more commercial and industrial customers move towards autonomous or multi-source energy management.”
Schneider Electric, with $26bn in revenue last year, includes the APC uninterruptible power supply business as well as the Invensys sensor business and mixed signal ASIC developer Swindon Silicon Systems, all of which are used the smart buildings business.
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