Hammond Power Solutions to acquire AEG Power Solutions

HPS expects the acquisition to strengthen its power portfolio through expansion

Feb. 24, 2026

2 min read

Two hands in business suits performing a fist bump are shown with orange lightning bolts, symbolizing a successful deal and collaboration.

Hammond Power Solutions (HPS), provider of dry-type transformers and power-quality products, signed a definitive agreement to acquire AEG Power Solutions, subject to regulatory approvals and customary closing conditions.

AEG Power Solutions manufactures mission-critical industrial power electronics for industrial facilities, transportation, infrastructure and energy applications. Operating primarily across Europe and Asia, AEG Power Solutions employs more than 780 professionals and operates five manufacturing facilities worldwide.

HPS expects the acquisition to strengthen its portfolio through:

product expansion—integrated electrical solutions combining HPS’s transformer and power magnetics strengths with AEG Power Solutions’ industrial UPS and power conversion expertise
end-market expansion—increased exposure to high-growth markets including industrials, infrastructure and energy transition applications
geographic expansion—scale and global platform, supporting long-term diversified growth across multiple regions
customer base expansion—installed base and global aftermarket services, increasing recurring revenue from service, maintenance and upgrades.

“This transaction is an important strategic milestone for Hammond Power Solutions,” said Adrian Thomas, CEO of HPS. “It strengthens our technology foundation, expands our capabilities in power electronics and integrated electrical solutions and extends our reach across key markets. Just as importantly, it brings together two teams grounded in strong values and culture. This transaction reflects the same principles that have guided our long-term capital allocation: strategic relevance, financial discipline and risk awareness, while maintaining a prudent leverage profile and a clear path to long-term value creation.”

Franck Audrain, CEO of AEG Power Solutions, added: “The combination of HPS and AEG Power Solutions will allow our teams to collaborate more closely, extend our global reach and continue supporting customers with the same focus on reliability and service that they value and depend on.”

In 2026, Hammond Power Solutions marks 25 years as a publicly traded company. “I can think of no better way to celebrate that legacy than by taking a meaningful strategic step that builds on what we have created together,” Bill Hammond, chairman of HPS, said. “This deal to acquire AEG Power Solutions reflects the strength of our foundation and positions HPS for the next phase of long-term growth.”