Greenlee acquires HD Electric to strengthen its capabilities in the utility market.
Second power utility based acquisition in six months
Rockford, IL – December 18, 2013 – Greenlee® / A Textron Company (NYSE: TXT) has announced the acquisition of HD Electric Company® (HDE®), a Waukegan, IL-based designer and manufacturer of power utility products. HDE provides products and solutions which test, measure and control electric power.
“The addition ofHD Electric expands and strengthens our capabilities in the power utility segment,” said Scott Hall, President, Textron Industrial Segment and Greenlee. “HD Electric, like Greenlee, has a rich history of innovative products. The combination of HD Electric, Greenlee Utility® and Sherman + Reilly™ allows us to offer a more complete product solution to the power utility customer. We welcome HDE into the Greenlee family.”
HD Electric specializes in test and measurement, controls and system monitoring, safety and specialty products for the electric power industry. The company employs 38 people and will join the Greenlee family of brands alongside Greenlee, Klauke®, Greenlee Communications™, and Sherman + Reilly.
“We are excited to be joining the Textron Industrial family under the Greenlee division,” said Mark Hoffman, General Manager, HD Electric. “HDE has delivered safety, efficiency, and innovation to the power utility industry for more than 80 years. These priorities are a perfect fit with those of Greenlee, and we look forward to further growth in the years ahead.”
HD Electric is the second acquisition in the last six months by Greenlee, as the company continues to strengthen and expand its position in the power utility segment. Earlier this year, Greenlee acquired Sherman + Reilly, an acknowledgedleader in heavy pulling products for distribution and transmission power utility applications.
Greenlee is known as a global leader in the professional tool category. The Rockford, Illinois-based company develops high quality innovative products distinguished by customer-driven design and differentiated by supply chain excellence. Greenlee also leverages its powerful brands such as Greenlee Communications, Greenlee Utility, and Klauke in the electrical, construction and maintenance markets worldwide. More information is available at www.greenlee.com.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.
About HD Electric Company
For eighty years, HDE has provided products serving the diverse needs of the electrical power industry and its related industries worldwide. HDE’s continuous improvement and innovation in the areas of controlling, testing, measuring and controlling of electric power has resulted in the development of leading edge products designed to help deliver electric power to your customers safely and efficiently.
Kim Schleiff, Director of Marketing and Communications
Greenlee Textron, Inc.
4455 Boeing Drive, Rockford, Illinois 61109-2988, USA
Tel: +1 (401) 473-9494. E-Mail:email@example.com