Feb 24, 2017
Power Engineers Inc. and Sega Inc. have entered into a letter of intent for Power to acquire the Kansas City-based firm. The acquisition is planned to close by May 23, 2017.
“We’re looking forward to quickly completing our due diligence and closing,” said Power CEO Bret Moffett. “Sega is a highly respected firm in the U.S. This effort would allow us to strengthen our regional team in Kansas and merge the Power generation and Power distribution expertise of Sega’s engineers with our own. The combined Power team would provide our clients a greater range of services and wider geographic access to our people. We are very pleased to be part of two great employee-owned firms joining forces—our cultures and strategies are a terrific match.”
Together, Power and Sega will create a stronger U.S. presence in the power and energy engineering markets. Sega, a 130-person employee-owned firm, focuses mainly on power plant and electrical distribution engineering services, and would help Power continue to offer a world-class suite of services across the full spectrum of the power generation industry. Sega’s clients will be able to work with the same teams they know and trust, while enjoying the expanded service offerings and resources provided by Power’s 2,100 strong staff.
CEO and President of Sega, Derek Jacobs, P.E., is enthusiastic about how the deal between Power and Sega will benefit Sega’s clients. “We’re very excited about being able to offer our existing clients a broader range of services and the ability to participate on larger and more complex projects across a wider geographic client base.”