Cosel announces new acquisition of The Powerbox Group
Cosel Co has announced that it has acquired The Powerbox Group. The Powerbox Group and its subsidiaries employ 120 people, with a consolidated turnover of more than €40m throughout 15 countries. With design centres in Sweden (HQ), Germany and Netherlands as well as offices throughout Europe, US, China and Australia, they specialise in the design and manufacturing of standard, semi-standard and full custom power supplies throughout the industrial, medical, transportation and defence sectors.
“Having achieved the status as the #1 Industrial Power Supply manufacturer in Japan, and with sales in excess of $230m, our vision is to expand that success globally. By bringing the Powerbox Group in to Cosel, we gain additional design and manufacturing resources enabling us to increase our product offering to our existing customers as well as to enter new markets and acquire new customers. Cosel & Powerbox are a perfect fit, having had a business relationship for more than 30 years." said Masato Tanikawa, Cosel President and CEO.
"With constant growing and changing power demands, the ability to offer an even wider range of standard and semi-standard power supplies brings us closer to delivering the solutions which our customers require. With the Powerbox expertise in providing custom power solutions, we can support almost any power requirement throughout the industrial, medical, transportation and defence markets. We are very excited about the future and are looking forward to jointly becoming a truly global and recognised name in the industry.”
“We really look forward to join the Cosel Group and together create a successful common entity. We will be a strong force addressing the growing worldwide demand for innovative power solutions while respecting the environment, contributing to our customers’ sustainability strategies.” said Martin Sjöstrand, CEO of Powerbox.
"By becoming a part of Cosel, Powerbox is moving into a new stage of its history. With a number of shared values such as a quality first approach and focus on technology leadership, the combined companies will jointly continue to excel in developing new technology in order to design and to manufacture standard, modified standard and custom products and services that will contribute to our mutual customers’ success."