Acquisition of Masterpower Electronics Ltd

Masterpower, which was formed in 1991, is a high-quality power protection service provider, with a broad range of solutions covering industrial uninterruptible power supplies and other critical power protection equipment. Masterpower provides customer support through a branch network which includes locations in Aberdeen, serving the North Sea oil and gas sector; Alloa, focused on the Central Scottish economic zone; and in North East England and the Midlands.

Masterpower has an excellent reputation for the quality of its service provision, particularly in its core oil and gas business both off and on shore, where it has long-standing relationships with major energy and blue chip companies including BP, British Energy, ConocoPhillips, EMCOR, Ineos and Network Rail.

The acquisition of Masterpower is an important step in Chloride’s strategy to grow its critical power solutions business in the oil and gas and energy sectors, which have been experiencing significant growth. This growth is forecast to continue for the foreseeable future given the global demand for energy.

The acquisition brings significant benefits for Chloride. These include: Masterpower’s complementary range of products and services; project engineering and maintenance capabilities; opportunities to extend Chloride’s geographic coverage in Scotland and the North Sea and northern England and opportunities to drive UPS sales through the Masterpower customer base.

Commenting on the announcement Keith Hodgkinson, Chief Executive, said “This is an important strategic move for Chloride. The combined resources and capabilities of Chloride and Masterpower will enhance Chloride’s leading position in the European market for industrial power protection solutions, and particularly the energy sectors which are experiencing long term growth. We look forward to building on the complementary strengths of both businesses to expand and improve our solutions offering.”