Transformer purchase

ABB has signed an agreement to acquire US transformer developer Kuhlman Electric for an undisclosed amount from The Carlyle Group to expand its power products portfolio in the Americas.

Kuhlman Electric, which is based in Versailles, Kentucky, employs approximately 800 people. It manufactures a range of transformers for the industrial and electric utility sectors.

Over the past five years, the company has demonstrated a track record of profitable growth with double-digit annual sales growth. In 2007, the company had revenues of around $250m.

ABB plans to integrate Kuhlman Electric's operations into its power products business in North America once the acquisition, which is subject to regulatory approvals, closes in a few months time.