Shermco completes acquisition of Magna Electric Corp.

Shermco Industries, the Irving, Tex., provider of electrical services to energy, utility, and industrial companies, announced that it has completed its acquisition of Magna Electric Corp., a Canadian electrical power system engineering, testing, manufacturing, and commissioning service company based in Saskatchewan. According to Shermco, this union creates the largest electrical testing and maintenance service company in North America, serving customers across the U.S., Canada, and other select international markets.

The full Magna Electric workforce and senior management team will be integrated with Shermco and operations at all of Magna’s existing facilities are expected to continue. The acquisition approximately doubles Shermco’s operating scale, brings a complementary customer base and significantly expands the company’s ability to serve trans-border customers and projects. The combined company will have more than 1,000 qualified electrical workers in locations across North America.

“The combination uniquely positions Shermco to serve current and future customers across the U.S. and Canada, particularly those with trans-border projects and facilities and those which require large-scale electrical maintenance outages to be completed in minimal timeframes,” said Ron Widup, Shermco president and CEO.

Click here for more information about this transaction.

-Bill O’Leary

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