Greenlee Textron Acquires HD Electric Company
Second power utility based acquisition in six months
Rockford, IL - Greenlee / A Textron Company has announced the acquisition of HD Electric Company (HDE), a Waukegan, IL-based designer and manufacturer of power utility products. HDE provides products and solutions which test, measure and control electric power.
"The addition of HD Electric expands and strengthens our capabilities in the power utility segment," said Scott Hall, President, Textron Industrial Segment and Greenlee. "HD Electric, like Greenlee, has a rich history of innovative products. The combination of HD Electric, Greenlee Utility and Sherman + Reilly allows us to offer a more complete product solution to the power utility customer. We welcome HDE into the Greenlee family."
HD Electric specializes in test and measurement, controls and system monitoring, safety and specialty products for the electric power industry. The company employs 38 people and will join the Greenlee family of brands alongside Greenlee, Klauke, Greenlee Communications, and Sherman + Reilly.
"We are excited to be joining the Textron Industrial family under the Greenlee division," said Mark Hoffman, General Manager, HD Electric. "HDE has delivered safety, efficiency, and innovation to the power utility industry for more than 80 years. These priorities are a perfect fit with those of Greenlee, and we look forward to further growth in the years ahead."
HD Electric is the second acquisition in the last six months by Greenlee, as the company continues to strengthen and expand its position in the power utility segment. Earlier this year, Greenlee acquired Sherman + Reilly, an acknowledged leader in heavy pulling products for distribution and transmission power utility applications.