To strengthen its presence in renewables market, industrial power products manufacturer Trystar, based in Faribault, MN, has acquired Merrimack, NH based Oztek Corp, a manufacturer of commercial and industrial power conversion and power electronics products. The acquisition deal was closed on May 5, making Oztek part of Trystar. No financial details were disclosed. According to Trystar, Oztek will continue to produce and expand its power conversion products offering for energy storage systems, with continued focus on compact, high-performing, long life solutions. It will now be called Power Conversion Systems Division of Trystar, said the buyer. Presently, Oztek products include battery inverters and energy storage power conversion systems, bidirectional dc power supplies, printed circuit power supplies for motor drives and inverters, as well as silicon-controlled rectifier (SCR) controllers and firing boards.
Meanwhile, the buyer said that its new products leveraging Oztek’s 25 plus years’ of expertise producing innovative, high reliability power converters will be announced as production release dates are approached. Trystar has four U.S. manufacturing locations totaling more than 350k square feet. The acquisition resulted in no layoffs, said Trystar.
“The acquisition of Oztek Corp is compelling for several reasons,” explained Trystar CEO, Andrew J. Smith. “Trystar is at the forefront of electrification, renewables, and power grid resiliency. Adding the Oztek products to our already extensive portfolio of electrical power products will allow us to create more complete, integrated solutions for our customers, particularly in wind, solar, microgrids, and battery storage applications. In addition, both Trystar and Oztek excel at working with customers to address their specific needs and pride themselves in rapidly creating complex, engineered solutions to meet stringent requirements.” said Smith. “Our expertise in the design and manufacturing of power conversion and power electronic products will fit nicely with Trystar’s portfolio of electrical power products and expand its presence in the renewables and battery storage markets,” said John O’Connor, president and CEO of Oztek. “The union of the two companies will strategically enhance product breadth and expand our collective presence in new markets. We look forward to leveraging Trystar’s capabilities to scale operationally and commercially.”
Lately, the company has been expanding through acquisitions. In late 2021, Trystar acquired Troy, Michigan based Controlled Power Company to complement its offering of emergency and temporary power solutions, while adding power conditioning and conversion products to the portfolio.