Hitachi Energy to acquire Canduct Group to expand transformer supply

Hitachi Energy announced a definitive agreement to acquire Canduct Group, an Ontario, Canada-based manufacturer of transformer insulation kits and components, in a move to expand its North American transformer insulation business.

The acquisition is expected to close at the beginning of the third calendar quarter of 2026, subject to customary closing conditions.

Founded in 1982, Canduct serves original equipment manufacturers and repair companies across the U.S. and Canada. The company has supplied transformer insulation products to Hitachi Energy for more than two decades. The transaction will bring more than 300 Canduct employees into Hitachi Energy's operations.

"By acquiring Canduct Group, we are expanding regional capabilities, strengthening supply chains for insulation kits and components, and supporting the growing demand for electrification across the region," said Bruno Melles, CEO of Business Unit Transformers at Hitachi Energy.

Hitachi Energy, headquartered in Switzerland, employs over 56,000 people across 60 countries and reports annual revenues of approximately $20 billion. The company is a subsidiary of Hitachi, Ltd.

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