MTC Transformers, Inc. acquired by Schaffner Group
September 2011 – England & Company served as the financial advisor to MTC Transformers, Inc. (“MTC”) in the acquisition of its Wytheville division by the Schaffner Group (“Schaffner”), based in Luterbach, Switzerland. The acquisition includes the Wytheville, Virginia, Dry-Type type transformer division and the Roanoke, Virginia, sales office.
MTC Transformers retains its large liquid-filled transformer remanufacturing operations in Louisville, Ohio, and a spin-off company, Evatran, the developers of Plugless Power charging for electric vehicles.
The new company, Schaffner-MTC Transformers, is a strategic acquisition that will supplement Schaffner’s technical leadership and provide a foothold in the North American market.
MTC Transformers, founded in 1985 in Wytheville, Virginia, has grown from a regional transformer manufacturing and repair shop into a global supplier of specialized transformers and magnetics. Their transformers power many of the subway systems throughout North America, supply excitation power to many of the world’s largest generators, are used on the U.S. Navy’s aircraft carriers and submarines, and provide power for a variety of renewable energy projects, including hydro, solar, wind and fuel cell applications.