February 2023 Volume 5

INDUSTRY NEWS

Enprotech Corp Announces the Acquisition of American Hydro, a Business of Wärtsilä Corporation

American Hydro, headquartered in York, PA, is a leading North American provider of custom hydropower refurbishment solutions and turbine services. American Hydro leverages world-class advanced engineering, precision machining, large fabrication, and field services capabilities to power North American hydroelectric production. American Hydro specializes in the engineering, design, manufacturing, refurbishment, installation, and servicing of high performance hydropower turbines and pumps. The company was founded in 1986 and became part of Wärtsilä in 2016. Annual revenues of the company were approximately $50 million in 2021. Chris Pascarella, President and CEO, Enprotech Corp stated: “The entire organization is extremely excited to add American Hydro to our collective portfolio of businesses focused on the maintenance, repair, rebuild and modernization of heavy industrial equipment. American Hydro expands our industry segmentation into the renewable energy sector, a key growth category for Enprotech Corp. Additionally, AmericanHydro has remarkable technical capabilities that will strengthen our entire organization.” Enprotech Corp is actively pursuing strategic acquisitions that will uniquely add to the organizations’ larger collective maintenance, repair, and productivity optimization capabilities.These acquisitions will help to execute the vision to become the #1 North American maintenance, repair, remanufacture, and optimization solutions provider for the most complex, heavy-industrial machinery and equipment - the one-stop shop of choice. The acquisition of American Hydro is an important step on this journey. Subject to regulatory approvals, completion of the transaction is expected in first half of 2023.

About Enprotech Corp Enprotech Corp provides maintenance, repair, rebuild, and modernization solutions to optimize North American manufacturers utilizing heavy industrial machinery and equipment. Headquartered in Cleveland, OH, Enprotech Corp is a subsidiary of ITOCHU Corporation (ITC). Some of the key industry segments served include automotive, appliance, general manufacturing, oil & gas, renewable energy, steel and aluminium manufacturing, and many more. With seven facilities in North America, Enprotech delivers a one-stop solution to keep our partners manufacturing production in motion.

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FIA MAGAZINE | FEBRUARY 2023 66