Fort Lee-based power-equipment maker acquires Connecticut company

Pioneer Power Solutions, a Fort Lee-based manufacturer of electrical power generation equipment, announced Thursday that it had acquired a Connecticut-based Harmonics Holdings Inc.The acquisition will allow Pioneer to offer its clients a wide range of new solutions that are more cost-effective, cleaner and technologically advanced.

“For our dry-type transformer business, this acquisition represents the latest step in our continuing evolution towards more highly-engineered, value-added solutions in our sales mix,” Nathan Mazurek, Pioneer’s chairman and CEO, said in a prepared statement. “We expect it to be the first of several initiatives we undertake to offer a more comprehensive array of power quality solutions to our customers, including harmonic filtering and power factor correction.”

Financial terms of the acquisition were not disclosed.

Harmonics is a specialty provider of technology for eliminating currents in power distribution systems.

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