AES, Inc., a leading industrial equipment solutions provider from Mount Airy, NC, has officially announced its acquisition of Plant Drives & Systems, a Chattanooga-based expert in systems integration for variable-frequency drives and automated systems. This strategic move is set to bolster AES, Inc.'s capabilities in delivering comprehensive industrial solutions, combining the strengths of both companies to serve a broader client base more effectively.
Founded in 1992, AES, Inc. has built a robust reputation with over 120 employees, specializing in industrial electronic, hydraulic, and mechanical equipment repair services, alongside new and used equipment sales. Plant Drives & Systems, established in 2010, has been recognized for its commitment to high-quality service in systems integration. Nicholas Cooke, CEO of AES, Inc., highlighted the acquisition as a pivotal moment for both companies, emphasizing the unified team's potential to become a stronger service provider in the industry.
The acquisition was expertly facilitated by Benchmark International, a global M&A firm renowned for its significant role in transactions totaling over $11 billion across various sectors. Matthew Kekelis, Senior Director at Benchmark International, shared his optimism about the deal, noting the enhanced ability of the combined entities to serve their customers better and establish a formidable presence in their industries. Benchmark International's accolades, including being named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network, underscore its expertise in ensuring successful mergers and acquisitions.
This acquisition is not just a milestone for AES, Inc. and Plant Drives & Systems but also a testament to the evolving landscape of the industrial equipment sector. By integrating Plant Drives & Systems' specialized services, AES, Inc. is poised to offer more innovative and efficient solutions, addressing the growing demands of industries reliant on advanced industrial equipment and automation technologies. The collaboration between these two companies, supported by Benchmark International's strategic guidance, signals a promising future for customers seeking cutting-edge industrial solutions.
