Design-Build Communiciations Specialist Acquires Midway Electric

April 14, 2009
WPCS International Inc. (WPCS), Exton, Pa., a provider of design-build engineering services for communications infrastructure, has completed its acquisition

WPCS International Inc. (WPCS), Exton, Pa., a provider of design-build engineering services for communications infrastructure, has completed its acquisition of Midway Electric Co., St. Helens, Ore. The purchase price was $400,000 in cash.

Founded in 1983, Midway Electric is an electrical contractor specializing in low- and high-voltage electrical services. The company focuses on industrial and commercial projects and has customers including Armstrong World Industries, Knife River Corp., and the city of St. Helens.

According to a press release announcing the acquisition, Midway Electric generated $2.2 million in revenue and approximately $120,000 in earnings before interest and taxes for its last fiscal year ended March 31, 2008. The transaction closed on March 9, 2009, and the company will be assimilated directly into Major Electric, a wholly owned subsidiary of WPCS.

Jim Jordan, subsidiary president for WPCS, said in that release, “For over twenty-five years, Midway Electric has established itself as a company with an outstanding reputation for cost-effective and high-quality electrical services. The acquisition of Midway Electric allows us to achieve one of the goals we set for expansion in the Portland, Ore., market.”

In other news at the company, WPCS announced in January that it had received approximately $10 million in new projects, including work for the University of California, San Jose State University, Nevada Department of Transportation, Nortech Systems, New Jersey Department of Transportation, Mohegan Sun and the St. Louis Port Authority, as well as several new contracts in Australia and China.

In addition, WPCS was selected by Caltrain, the California based commuter rail line, to install five 60-foot towers that will support tilt-down antennas. The project also includes the installation and testing of new radio equipment to support wireless communications for the rail line. The contract is valued at approximately $2 million.