# AETI sells M&I Electric US operations to Myers Power Products for $17.3 million

American Electric Technologies (AETI) agreed to sell the U.S. assets of its M&I Electric Industries subsidiary to Myers Power Products for $17.3 million. The buyer will also assume approximately $12.8 million in liabilities.

- Type: Acquisition
- Announced: 2018-08-06
- Where: Houston, Texas, United States
- Value: $17.3M
- Status: announced
- Products: arc-resistant switchgear, automation systems
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [American Electric Technologies](https://endata.com/companies/1777.md)
- [Myers Power Products](https://endata.com/companies/33608.md) (acquirer)
- [M&I Electric Industries](https://endata.com/companies/33609.md) (target)

## Sources

- [einpresswire.com](https://www.einpresswire.com/article/457758312/update-aeti-announces-agreement-to-sell-m-i-electric-us-operations-to-myers-power-products), 2018-08-06: "The purchase price for the assets will be $17.3 million resulting in cash proceeds at closing of approximately $13.9 million after working capital and other closing adjustments."
- [mylers.cn](http://mylers.cn/news/companynews/2020-08-22/91.html), 2018-08-17: "The combination of M&I's US business with Myers Power adds significantly to our geographic market footprint in the US."

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