# Gulf Electroquip affiliate acquires Ideal Electric Company

A privately-held affiliate of Houston-based Gulf Electroquip Ltd. has acquired Ideal Electric Company, a Mansfield, Ohio-based manufacturer of electric motors and generators, from Hyundai Heavy Industries. The acquisition will retain most employees and add new hires.

- Type: Acquisition
- Announced: 2017-09-13
- Where: Mansfield, Ohio, United States
- Status: completed
- Products: electric motors, generators, switchgear, control systems
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Hyundai Heavy Industries](https://endata.com/companies/1382.md) (partner)
- [Gulf Electroquip Ltd.](https://endata.com/companies/26935.md) (acquirer)
- [Ideal Electric Company](https://endata.com/companies/26936.md) (target)

## Sources

- [richlandsource.com](https://www.richlandsource.com/2017/09/14/ideal-electric-company-purchased-promises-to-retain-and-hire-more-employees/), 2017-09-14: "Under new ownership, the longtime, Mansfield-based employer – which announced earlier this summer that it would soon cease production and lay off employees – will allow many associates to retain their positions, and more new associates are expected to be hired as the organization ramps up."
- [worldcement.com](https://www.worldcement.com/product-news/15092017/ideal-electric-acquired-by-gulf-electroquip/), 2017-09-15: "Ideal Electric, a manufacturer of electric motors and generators, switchgear and control systems for industrial applications, including within the cement industry, has been acquired by a privately-held affiliate of Gulf Electroquip Ltd."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.