Cavan-based Kyte Powertech acquired by Swiss firm R&S Group

Electrical infrastructure manufacture Kyte Powertech, which employs 490 people, said it would continue to operate as normal following transaction

Kyte Powertech manufactures distribution transformers which convert power from the grid down to a level that can be used by customers.

Cavan-based electrical infrastructure manufacturer Kyte Powertech is to be acquired by the Swiss company R&S Group for an undisclosed amount, the company has announced.

Kyte Powertech predominately manufactures distribution transformers which convert power from the grid down to a level that can be used by customers. The company currently manufactures 17,000 transformers annually at its facility in Cavan.

The firm is backed by MML Growth Capital Partners Ireland, which will exit the company following the deal with R&S Group.

Kyte Powertech said it would continue to operate as normal following this transaction, with its senior management team remaining in place after having reinvested in the business. The company operates across Ireland, the UK, Belgium, and the Netherlands.

It employs about 490 people with revenues of €165m as of the end of its financial year in March. The company was founded as Pauwels Trafo in Cavan in 1977 but rebranded as Kyte Powertech in 2020 following the acquisition of the business by MML alongside current management.

Kyte Powertech chief executive of Stephanie Leonard said the acquisition would allow the company to “build on the momentum we have generated over recent years and enable us to invest in the considerable market opportunities in Europe and beyond”.

“Our addressable market is growing significantly thanks to a surge in electricity usage, transport electrification and data consumption. The drive to net zero all over Europe is also stimulating higher growth,” she said.

R&S Group, with operating headquarters in Sissach, Switzerland, has six manufacturing facilities in Switzerland, Italy, Poland and the Middle East. It serves its domestic and European export markets with small and medium power and distribution transformers. 

Chief executive of the R&S Group Markus Laesser said this acquisition gives the company access to markets it is currently not servicing and “will strengthen the combined group and management capabilities”.

“We are gaining in our product offering and technical expertise,” he said.