Hitachi Completes Acquisition of Joliet Electric Motors
Deal News | Jan 20, 2025 | EIN
Hitachi Ltd., a prominent Japanese electrical equipment manufacturer, announced the successful acquisition of American Joliet Electric Motors, LLC, previously owned by three funds. The financial specifics remain undisclosed. Post-acquisition, Joliet Electric Motors will be under the leadership of Hitachi Industrial Products Ltd., a manufacturer of substantial industrial equipment with which it has maintained a sales partnership since 2002. This acquisition positions Hitachi to amplify its sales and maintenance services for large-scale industrial equipment in the North American market. It's a strategic move aiming at penetrating the clean energy sector by utilizing Joliet's established sales networks. As part of the deal, Hitachi secures a local service base to support extensive operations for its engines and wind farms in North America. Joliet's headquarters are in Illinois, USA, while Hitachi's headquarters are in Tokyo, Japan.
Sectors
- Electrical Equipment Manufacturing
- Energy Sector
- Heavy Industry
Geography
- Japan – Hitachi Ltd., the acquiring company, is based in Japan, and is a key player in the acquisition.
- United States – Joliet Electric Motors, the acquired company, is situated in the U.S., signifying the geographical focus of the deal.
Industry
- Electrical Equipment Manufacturing – The acquisition involves companies producing and managing electrical equipment, highlighting expansions in this sector.
- Energy Sector – The deal focuses on the transition to clean energy products, indicating active participation in the evolving energy sector.
- Heavy Industry – Joliet Electric Motors' role in maintaining large engines for heavy industry signifies its involvement in this sector.
Financials
- Undisclosed – The financial terms of the acquisition deal have not been revealed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hitachi Ltd. | Acquirer | Company | A Japanese electrical equipment manufacturing company. |
| Joliet Electric Motors, LLC | Target Company | Company | An American company specializing in the maintenance of large engines for the energy sector and heavy industry. |
| Hitachi Industrial Products Ltd. | Manager | Company | A subsidiary of Hitachi responsible for managing industrial products, involved in the post-acquisition management. |