S&C Electric buys microgrid control company IPerc
September 6, 2016
Chicago-based S&C Electric, a provider of equipment and services for electric power systems, is to acquire cyber-secure intelligent microgrid control company IPerc for an undisclosed sum.
"The acquisition of IPerc is part of our strategic plan to enhance our technical portfolio and drive profitable growth," said Kyle Seymour, S&C's chief executive officer. "IPerc has highly skilled team members and technology that will complement our current product offerings and advance our presence in the military market. IPerc brings industry expertise in the area of microgrid controls and cyber security. We are extremely excited to enter into this relationship."
New York-based IPerc will operate as a wholly owned subsidiary of S&C. As part of the transaction, Erik Svanholm, currently chief operating officer, will assume the role of chief executive officer of IPerc and will be charged with guiding the future of the business. Darrell Massie, IPerc founder and chief technology officer will become IPerc's chief technical officer, allowing him to focus his time on maintaining IPerc's position as a technological leader and subject matter expert.
"We look forward to building our future with S&C Electric,” said Massie. “Our organisations are customer focused and have common cultural values. With this acquisition, S&C will be uniquely positioned as a one-stop-shop for all microgrid equipment and services, worldwide. With S&C's commitment to innovation and smart grid development, and IPerc's expertise in intelligent microgrid technologies, we believe IPerc and S&C are well matched for market growth."
IPerc was founded in 2004 to provide a more intelligent and efficient control system capable of reducing costs, enhancing security and providing continuous power when failure is not an option.