History

Our heritage in design technology and innovation has endured throughout our over 90 years in the electrical equipment manufacturing industry. In our recent history, we have significantly broadened the range of products we manufacture and the markets we serve:

• In February 1995 we acquired our Pioneer Transformers Ltd. business from Schneider Electric. We then retooled its manufacturing capabilities and developed know-how to produce gradually more complex and value-added transformers for our customers. With our change in product mix, our revenue more than tripled.
• In December 2009 we raised equity capital and took our business public in the U.S. as Pioneer Power Solutions, Inc.
• In April 2010 we purchased Jefferson Electric, Inc., a Wisconsin-based manufacturer and supplier of low voltage, dry type transformers.
• In June 2010 we established our renewable energy business through the purchase of select assets from AAER Inc., a technologically advanced manufacturer of wind turbines with generation capacities exceeding one megawatt. In a second transaction in August 2010, we purchased AAER Inc. itself.

Our new identity as Pioneer Power Solutions reflects our continuing evolution and more broadly defined objectives -- to supply our customers a diverse and integrated offering of innovative, high quality, expertly-engineered power equipment products and services.