Baldor Electric has reached an agreement to purchase Energy Dynamics, a designer, assembler, and marketer of industrial generator sets.
With annual sales of $8 million in 2002, Energy Dynamics (EDI) has a 45,000 sq. ft. facility in Mukwonago, Wisconsin, a suburb of Milwaukee. EDI designs, assembles, and markets a variety of industrial generators for standby, prime power, and peak-shaving applications, ranging in size from 15 – 2000 kW.
Markets served by EDI include telecommunications, mining, municipal, and industrial standby. EDI’s customers include Verizon, Ameritech, NYNEX, and Bell South, as well as international customers such as Escondida Copper Mine and San Cristobal Gold Mine both located in Chile and MRP Transportation located in Taiwan.
‘The addition of EDI expands Baldor’s offering of generators, which began with our acquisition of Pow’r Gard Generator Corporation in October of 2000,’ according to John McFarland, Baldor’s President and CEO. ‘While Pow’r Gard focused on generators from 1.3 to 200 kW, EDI’s strength is in the 200 to 2000 kW range. Now, Baldor offers a complete line of portable, standby, and prime power generators from 1.3 to 2000 kW,’ he added.
The purchase of EDI will be accretive to Baldor’s earnings in 2003. No other financial terms were disclosed.