- Published: 07 January 2014 07 January 2014
Shermco Industries has announced that it has completed its acquisition of Magna Electric Corporation (MEC), a Canadian electrical power system engineering, testing, construction, manufacturing and commissioning service company based in Saskatchewan.
The acquisition of MEC 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 over 1,000 electrical workers in locations across North America. The full MEC workforce and senior management team will be integrated with Shermco and operations at all of MEC’s existing facilities are expected to continue. Terms of the transaction were not disclosed.