Global Power Equipment Group Acquires TOG Holdings, Inc.

2012-09-10

Global Power Equipment Group Inc. (""Global Power"" or ""Company""), a leading provider of custom-engineered auxiliary equipment and maintenance support services for the global power generation industry, announced that it has acquired the equity of TOG Holdings, Inc., together with its subsidiary, TOG Manufacturing Corporation (""TOG""). TOG provides precision machined metal and alloy parts to original equipment manufacturers for the steam and natural gas turbine power generation market.
 
Luis Manuel Ramírez, Global Power's President and Chief Executive Officer, commented, ""The acquisition of TOG, combined with our Consolidated Fabricators parts business, establishes a growth platform for aftermarket energy parts sales and also expands our Products portfolio to serve the steam turbine segment. The repair and replacement parts business provides a relatively stable revenue stream, while generating margins commensurate with aftermarket business. With the addition of TOG, we are well positioned to grow our aftermarkets business.""
 
TOG, which had approximately USD8 million in revenue in 2011, manufactures fastener and valve-related repair and replacement products for steam and natural gas turbines. Approximately 70% of TOG's revenue is aftermarket sales. Its operations are located in North Adams, MA.