Systems Control to acquire Iowa company
IRON MOUNTAIN — Systems Control is acquiring Keystone Electrical Manufacturing Co., headquartered in Des Moines, Iowa, the Iron Mountain-based energy company stated in a news release Tuesday.
“We have been fortunate to see tremendous growth in our business, but we are always searching for ways to expand geographically and to accelerate our relentless pursuit of extraordinary customer service,” Systems Control CEO Brad Lebouef said. “We look forward to partnering with the Keystone team to serve the future of energy. This transaction is a milestone for Systems Control.”
Founded in 1962, Systems Control employs 750 people in a 400,000-square-foot facility that designs and manufactures equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America.
Keystone has manufactured products for the electrical generation, transmission and distribution markets for more than 50 years.
“I have followed Systems Control since I entered this industry over 24 years ago,” Keystone owner Fred Buie said. “I have always admired their innovative spirit and limitless commitment to customer satisfaction. Their overall philosophy of doing business aligns well with Keystone’s culture and I am very excited and proud to become a part of this team.”
The transaction is subject to customary conditions of closing, which are expected to be completed in the next two weeks, the news release stated.