Japanese manufacturing conglomerate Air Water has acquired UPS manufacturer Hitec for an undisclosed amount.
Air Water purchased 100 percent of the issued shares in Hitec from Dutch investment company Egeria, the majority shareholder in the UPS maker since 2012.
The first DRUPS
The Japanese company said that the acquisition will reduce operational costs for the UPS manufacturer and strengthen Hitec’s global presence. Air Water said it wants to become the 'global No. 1' in UPS systems and other installations for power supply.
Hitec was founded in 1894, is headquartered in Almelo, Netherlands, and claims that in 1969 it built the first diesel rotary UPS system. Hitec builds UPS’ for data centers, semiconductor producers, hospitals, airports and financial institutions.
The company employs about 270 people and has branches in the US, UK, Spain, China, Singapore, Malaysia, Taiwan and Russia. Last year, Hitec reported revenue of €102 million ($111m).
Air Water manufactures a large variety of products for the gas, chemicals, medical, energy, agriculture and food products, logistics, sea water and aerosol industries. In 2018, the company reported a turnover of ¥802 billion ($7.3bn).