Kyte Powertech in Co Cavan has entered into an agreement to be acquired by R&S Group. The Swiss company is a leading provider of electrical infrastructure components in focus markets in Europe and the Middle East. Kyte Powertech will continue to operate as normal following this transaction, while its senior management team, led by Stephanie Leonard, will remain in place, having reinvested in the business.
Headquartered in Cavan, Kyte Powertech has strong market positions in Ireland, the United Kingdom, Belgium and the Netherlands. The Company specialises in the manufacture of distribution transformers for distribution networks and a diverse range of industrial applications including renewables. The local firm employs 490 people with revenues of €165m in 2024.
R&S Group, with operating headquarters in Sissach, Switzerland, has six manufacturing facilities in Switzerland, Italy, Poland and the Middle East, and serves its domestic and European export markets with small and medium power and distribution transformers in the utility, infrastructure and industrial sectors. Listed on SIX Swiss Exchange, R&S Group has a global workforce of over 600 people and a market capitalisation around CHF 400m. In a statement issued to Northern Sound, Stephanie Leonard, CEO of Kyte Powertech, said; "This acquisition could not have been better timed. It will allow us 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. We have a strong reputation in the market, enjoy long standing customer relationships and, importantly, have end-to-end manufacturing and testing facilities in Cavan with capacity to expand. We are grateful to MML for their support, having backed us in 2020 to stabilise the business and to grow it. They leave the Kyte Powertech in a better place and now R&S Group will enable the business to develop and grow further. I'd equally like to extend my thanks to our suppliers, loyal customers and particularly the nearly 500 Kyte Powertech employees whose hard work and dedication has made this possible."
