ESP Acquires PQI
Zebulon, North Carolina — October 11, 2005 — Electronic Systems Protection, Inc. (ESP), a leading manufacturer of power protection technology, announced today that they have acquired Power Quality Innovations, Inc., a Canadian power protection company, as of Friday, September 30th, 2005.
"We believe that together, clients will be offered enhanced technology and more comprehensive power protection solutions," stated Kim Alfreds, ESP’s Chairman. "As a result of this merger, ESP and PQI will be even better positioned to provide progressive technology solutions and become the power protection standard for the office equipment industry in North America."
Richard Billingsley, President of Power Quality Innovations, Inc, noted: "I believe that this merger is in the best interests of the customers, suppliers, and partners of PQI. Our clients will gain added value from both companies and our partnership will provide enhanced product solutions and expanded technical support."
Under the terms of the agreement, which has been approved by the ownership of both companies, ESP plans to continue operations and management of Power Quality Innovations, Inc., in Rossland, B.C., Canada during the transition. By year’s end, PQI’s product manufacturing will be consolidated into ESP’s manufacturing facility in Zebulon, NC. Richard Billingsley will remain with the team in a consulting capacity through a design and development agreement with ESP.
About ESP:
Electronic Systems Protection has manufactured patented power filtration and power protection technology for the office technology, mailing, ATM, and Kiosk industries for over 15 years. ESP’s products protect sensitive digital equipment from surges, ground noise, dirty power disruptions, lightning, and other harmful voltage transients and are certified and approved by the leading standard and safety organizations. ESP’s power filtration technology is recognized as “best in class” and is the choice for power protection by many of the world’s premier electronic equipment manufacturers and organizations. Visit www.realpowerprotection.com for more information.
About Power Quality Innovations, Inc:
Power Quality Innovations, Inc is a provider of hybrid filter products configured for the protection of office automation equipment. PQI has been in operation for five years and has developed key office equipment OEM and dealer relationships throughout Canada. Additional PQI product information can be found at pqi-inc.com.
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