To boost its power converter manufacturing and product range, RECOM Power has acquired Austria-based LECO, eyeing to expand market presence in industrial automation sector.
RECOM Power, a known name in the power electronics manufacturing ecosystem, has announced its acquisition of Austria-based LECO, another player in high-end power product design and manufacturing.
According to RECOM, the company has expanded its product range and expertise through new custom and standard power conversion solutions, targeting critical industrial automation markets.
It further aims to leverage LECO’s engineering expertise and power-dense solutions that focus on technology, quality, and customer service. This aligns with RECOM’s goal of becoming a global power supply system leader.
The company also disclosed that the UK-based corporate finance firm Clearwater acted as the merger and acquisition (M&A) advisor for the transaction. Although no financial details were revealed.
“Joining the RECOM group is a significant milestone for LECO”, noted Harald Weinmeier, Managing Director, LECO. He further mentioned that RECOM’s international presence comes with an opportunity to expand its crucial market presence and business development.
Conveying enthusiasm on this matter, Karsten Bier, CEO and Shareholder, RECOM, stated, “This provides us with an opportunity to expand our engineering capabilities and product portfolio for our customers, especially in industrial, automation, and supply chain end-markets.”
Based in Germany, RECOM has specialised in DC/DC and AC/DC converters along with LED drivers for over four decades. Earlier, its 2019 acquisition of Power Control Systems expanded its portfolio to include diverse power solutions for various industries.
