Japan-based Yaskawa Electric Corp. is set to buy Solectria Renewables LLC as a means of expanding the company's “clean-energy” business in the U.S.
Headquartered in Kitakyushu, Yaskawa is facilitating the deal through the manufacturer's U.S. subsidiary in Chicago. Solectria, based in Lawrence, Massachusetts, makes products that are used for large-scale solar projects, including components that convert direct-current output from solar panels to electricity.
Yaskawa expects the deal to help it increase product offerings.
Recently, Yaskawa announced plans to acquire software company Agile Planet Inc. as well as Finnish wind-parts maker The Switch Engineering Oy.
Harris Williams & Co. ran the sale process for Solectria with a team led by managing director Jeff Bistrong and director Tyler Dewing.