GUELPH — Hammond Power Solutions Inc. has signed an agreement to buy AEG Power Solutions in an all-cash deal with an enterprise value of $365 million.

AEG Power Solutions is a manufacturer of industrial power electronics operating primarily across Europe and Asia.

The company has five manufacturing facilities around the world.

HPS chief executive Adrian Thomas says the deal strengthens the company’s technology foundation, expands its capabilities in power electronics and integrated electrical solutions and extends its reach across key markets.

AEG Power Solutions is expected to operate as a wholly owned subsidiary of HPS, with its leadership team expected to continue overseeing day-to-day operations.

The deal is subject to regulatory approvals and other customary conditions and is expected to close in the second quarter of this year.

This report by The Canadian Press was first published Feb. 17, 2026.

Companies in this story: (TSX:HPS.A)

The Canadian Press