Acquisition will accelerate both companies’ growth strategy through expanded power quality capabilities, broader end‑market exposure, and increased global reach.

ZWANENBURG, Netherlands – February 17th, 2026 – AEG Power Solutions today announced that it has signed a definitive agreement to be acquired by Hammond Power Solutions Inc., a leading provider of dry-type transformers and power quality solutions, subject to regulatory approvals and customary closing conditions.

HPS enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. HPS’ standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in Canada, the United States, Mexico and India and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.

Strategic Rationale 

Once complete, the proposed acquisition is expected to strengthen both companies’ portfolio, market reach, and long-term growth profile through:

• Product expansion – Integrated electrical solutions combining AEG Power Solutions’industrial UPS and power conversion expertise with HPS’s transformer and power magnetics strengths.
• End‑market expansion – Increased exposure to high‑growth markets including industrials, infrastructure, and energy transition applications.
• Geographic expansion – Superior scale and global platform, supporting long‑term diversified growth across multiple regions.

“The acquisition of AEG Power Solutions is an important strategic milestone for Hammond Power Solutions,” said Adrian Thomas, Chief Executive Officer of HPS. “It strengthens our technology foundation, expands our capabilities in power electronics and integrated electrical solutions, and extends our reach across key markets. Just as importantly, it brings together two teams grounded in strong values and culture. This transaction reflects the same principles that have guided our long‑term capital allocation: strategic relevance, financial discipline, and risk awareness, while maintaining a prudent leverage profile and a clear path to long-term value creation.”

“Joining Hammond Power Solutions will start an exciting new journey for AEG Power Solutions,” said Franck Audrain, Chief Executive Officer of AEG PS. “This partnership will accelerate our ability to expand globally and deliver comprehensive power solutions to customers worldwide. Together, we can continue to innovate and solve increasingly complex power protection challenges for the customers who put their trust in us.

I want to thank our employees for their dedication and expertise, our customers for their trust, and our partners for their collaboration as well as our main shareholders, Coltrane Asset Management and Robus Capital, for their consistent support through our transformation over the past several years. Together, we have made AEG PS a force in industrial power protection, and this next chapter will take everything we’ve built to an even higher level.”

About AEG Power Solutions

AEG Power Solutions is a global leader in power supply and conversion for industrial and renewable applications with distinctive expertise in AC and DC technologies.  AEG Power Solutions’ portfolio comprises a wide range of reliable and tailored AC and DC UPS, battery chargers, rectifier systems, and switch-mode power supplies to protect critical power for oil & gas operations, power generation, industrial processes, transportation, nuclear and other critical infrastructure even in the toughest environments.  Since its foundation more than a century ago, AEG Power Solutions stands for rugged reliability and world-class engineering, with offices and competence centers around the globe.

www.aegps.com

Transaction details

Jefferies acted as an exclusive financial advisor to AEG PS in connection with this transaction.

The transaction is expected to close in Q2-2026, subject to customary closing conditions and regulatory approvals.

This release contains forward-looking statements regarding the proposed acquisition and expected benefits. These statements are subject to risks and uncertainties. Readers should not place undue reliance on forward-looking statements.

Media Contacts:

AEG Power Solutions
Karen Chevalier, Internal Communication Manager
+49 171 2200 628
karen.chevalier@aegps.com