Schneider Electric announced that it has signed an agreement to acquire Leader Harvest Power Technologies Holdings Limited (Leader & Harvest), one of the leading players in the fast-growing medium voltage drives market in China.
Headquartered in Beijing, Leader & Harvest develops, manufactures and commercializes medium voltage (MV) variable speed drives. The company employs over 750 people and has an extensive in-house nationwide sales and service support network across 30 provinces. With an annual growth rate in excess of 20% in the past few years, the company is expected to generate sales of approximately USD 150 million (approx. €100 million) for the current year with an EBITDA margin of about 20%.