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M&A Deal Summary

Hitachi Acquires EKS

On October 24, 2023, Hitachi acquired energy services and equipment company EKS from Powin

Acquisition Highlights
  • This is Hitachi’s 1st transaction in the Energy Services and Equipment sector.
  • This is Hitachi’s 7th transaction in the United States.
  • This is Hitachi’s 1st transaction in California.

M&A Deal Summary
Date 2023-10-24
Target EKS
Sector Energy Services and Equipment
Buyer(s) Hitachi
Sellers(s) Powin
Deal Type Divestiture

Target

EKS

San Diego, California, United States
EKS is a designer, manufacturer, and system integrator of advanced power electronics and energy management solutions for distributed energy generation/storage and grid management to address energy market challenges. EKS is based in San Diego, California.

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Buyer(S) 1

Buyer

Hitachi

Tokyo, Japan
Category Company
Founded 1910
Sector Diversified
Employees282,743
Revenue 9.78T JPY (2025)
DESCRIPTION
Entrance to Hitachi's corporate headquarters in Tokyo, Japan.
Entrance to Hitachi's corporate headquarters in Tokyo, Japan.

Hitachi is a multinational conglomerate that operates across various sectors, including information technology, infrastructure systems, social innovation, automotive systems, and more. The Company's diverse portfolio encompasses a wide range of products and services, such as power systems, industrial machinery, digital solutions, transportation systems, and healthcare solutions. Hitachi was founded in 1910 and is based in Tokyo, Japan.

DEAL STATS #
Overall 20 of 22
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 4 of 5
State: California M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-13 Bravura Security

Calgary, Alberta, Canada

Bravura Security is a developer of deploys identity and access management software for organizations in Canada and internationally. Bravura Security is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-26 MA micro automation

St. Leon-Rot, Germany

MA micro automation is a provider of robotic and automation technology (robotic SI) including high-speed linear handling systems, high-precision assembly lines, and high-speed vision inspection technology for Europe, North America, and Southeast Asia. MA micro automation is based in St. Leon-Rot, Germany.

Buy €72M

Seller(S) 1

SELLER

Powin

Tualatin, Oregon, United States
Category Company
Founded 1989
Sector Energy Services and Equipment
DESCRIPTION

Powin designs and manufactures safe, scalable, and cost-effective energy storage solutions that enable reliable renewable energy integration and support global decarbonization efforts. Powin was founded in 1989 and is based in Tualatin, Oregon.

DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-20 EKS

San Diego, California, United States

EKS is a designer, manufacturer, and system integrator of advanced power electronics and energy management solutions for distributed energy generation/storage and grid management to address energy market challenges. EKS is based in San Diego, California.

Buy -
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