MAVERICK Announces the Acquisition of GE Energy’s Automation Services Business — Expands Market, Service Offering and Client Base
COLUMBIA, Ill., October 4, 2005 — MAVERICK Technologies, a U.S.-based global systems integration and operational consulting company, announced today the acquisition of the Automation Services business of GE Energy, expanding MAVERICK’s reach into new markets and augmenting its overall service offering. “We are very excited about this acquisition,” stated Paul J. Galeski, P.E., CAP, MAVERICK Chairman and CEO. “The purchase of GE Energy’s Automation Services represents a strong strategic addition to our mix of automation, business, and reliability solutions, and is an integral part of our long-term strategy for sustained growth. Also, the acquisition will allow us to take advantage of the many cross-selling opportunities to our expanded client base, broaden our national footprint, and enhance our global presence in the Semi-Conductor, Power Generation, Water and Wastewater, Pulp and Paper, and Automotive markets.” Galeski continued, “The primary benefit of this acquisition, however, is the talented group of engineering, management, and administrative professionals who will be coming on board as part of this transaction. This acquisition places MAVERICK as the largest independent systems integrator in North America servicing numerous Fortune 500 clients.”
GE Automation Services employs over 300 associates in sixteen facilities throughout the U.S. offering expertise in such areas as batch and continuous processes, packaging and material handling, motion control systems, electrical systems, installation, and maintenance/repair. “After reviewing numerous options, we felt that the financial track record, strong management team, and compatible service offering, all pointed to MAVERICK Technologies as the best fit for this acquisition,” stated Ricardo Artigas, President of Energy Services for GE Energy.
With this transaction, MAVERICK will also be acquiring the controlling interest of C.F. Picou Associates, Inc., a leading global provider of advanced process control design and implementation services based in Baton Rouge, LA. “MAVERICK’s specific experience in control systems and their overall automation marketplace involvement are a perfect fit for our APC offerings,” stated Dr. Jim Ford, President of C.F. Picou Associates. “We are very excited about joining the MAVERICK team,” continued Ford.
This latest strategic move follows MAVERICK’s recent announcement of the company’s formation of and participation in the Global Systems Integrator Alliance (GSIA), a worldwide alliance of leading business consulting and integration firms. Both the Automation Services acquisition and the GSIA formation confirm MAVERICK’s position as the largest independent provider of integrated automation, business, reliability, and service solutions for the manufacturing and distribution industries.
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