Energy & Power
Fuji Electric Corp. of America acquires RTS Holdings
By Renée Francoeur
August 7, 2015 – The U.S. subsidiary of Fuji Electric says it has entered into an agreement to acquire the turbine and power plant service business of RTS Holdings, headquartered in Sullivan, Mo., as well as its subsidiaries.
“With many power plants aging in recent years, the need for inspection, repair, and maintenance services is increasing,” said Phil Charatz, president and CEO of Fuji Electric Corp. of America. “This acquisition will serve to expand Fuji Electric’s power generation business in the Americas and strengthen our ability to capture new orders for power production equipment as existing equipment requires replacement.”
RTS was established in 1984 and is led by President Tim Weiss. With 60 employees, the company’s primary business activities are repairing and maintaining steam turbines and generators (as well as their peripheral devices).
The acquisition is expected to be complete on August 31, 2015. Fuji Electric said it plans to continue providing the same repair and maintenance services.