ABB, the prominent power and automation technology group, is to acquire the Trasfor Group, a leading manufacturer of dry-type transformers and inductors for low-voltage and medium- voltage applications. It provides specialty products for the energy industry and renewable power among others and will enable ABB to expand its offering of speciality transformers to address fast growing markets and applications in these areas.

Trasfor generated revenues of about $130 million in 2010 with about 380 employees. The company has a manufacturing unit close to Lugano, Switzerland, where it is based, and two additional plants in Italy. The parties agreed not to disclose the purchase price or any further financial details of the transaction.

“This bolt-on acquisition is in line with ABB’s strategy. It will strengthen our transformers business, broaden our customer offering and extend our market presence,” said Bernhard Jucker, head of ABB’s Power Products division. “Trasfor’s energy-efficient product range complements our transformer portfolio and offers scope for synergies and growth.”

Dry-type transformers are a growing part of the transformer business, and use materials such as resin for insulation instead of oil, making them less flammable and reducing impact on the environment.

The transaction is subject to customary regulatory approvals. ABB expects the closure to be completed during the second half of this year.