AMSC acquires Brazilian transformer maker Comtrafo
AMSC has announced the acquisition of Comtrafo, a Brazilian manufacturer of utility-scale power and distribution transformers.
Image for illustrative purposes
USA, Massachusetts: American Superconductor Corporation (AMSC) has announced the acquisition of Comtrafo Indústria de Transformadores Elétricos S.A., a Brazilian manufacturer of utility-scale power and distribution transformers. The company purchased all issued and outstanding Comtrafo shares for R$300 million (approximately $55 million) in cash and issued 2,417,142 restricted AMSC shares valued at about $78 million. AMSC also acquired two factory sites totalling more than 100 acres for R$155.6 million (around $29 million) in cash. An additional future earnout may be paid in cash if Comtrafo meets specified EBITDA targets over the next three years.
AMSC said the transaction aligns with its strategy to accelerate profitable growth, broaden its product portfolio, and strengthen its market position. Comtrafo has historically generated profitable revenue, and AMSC expects it to deliver approximately $55 million in revenue for 2025. The company anticipates normalized gross margins near 30 percent and operating margins of about 20 percent. For 2026, Comtrafo has a total backlog of roughly $85 million, with around $55 million scheduled for delivery within 12 months.
By integrating Comtrafo’s established presence in Brazil’s transformer market, AMSC aims to expand its grid solutions business. “Comtrafo is a leader in Brazil’s critical power infrastructure market for power and distribution transformers,” said Daniel P. McGahn, AMSC Chairman, President and CEO. He added that Brazil represents a $1.5 billion annual market, with more than $20 billion in planned national grid investments, offering significant growth opportunities across Latin America.
Source: AMSC
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