Fairmount Advises NWL on its Acquisition by American Superconductor (“AMSC”)

Bordentown, NJ – August 1, 2024 – AMSC (Nasdaq: AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy’s fleet, today announced that it has acquired Megatran Industries d/b/a NWL, a manufacturer of highly engineered power conversion products.  The Company is based in New Jersey with operations in Poland and South Korea. The total transaction consideration was $62 million.

AMSC believes the acquisition of NWL directly aligns with the company’s strategic priorities to accelerate profitable growth, broaden its product offerings, and expand both market reach and market share. NWL supplies components for a variety of energy applications. Its offerings include power supplies and power controls to industrial and military customers. NWL’s military progress, coupled with AMSC’s own growth in this sector, is expected to further strengthen and amplify the military power supply sales channel. By leveraging NWL’s leadership position in the industrial and military markets, AMSC expects to expand its business offerings and deliver greater value to existing and new customers, business partners, and shareholders.

“As we expand our military business, we believe NWL has the potential of multiplying our military footprint within the US Navy and the Department of Defense and given our recent work and success with allied navies, the two companies together are expected to provide a powerful combination,” said Daniel P. McGahn, Chairman, President and CEO of AMSC. “NWL has established a leadership position in the industrial and military markets for power products that complements and scales our recent push into these markets. The addition of NWL to AMSC’s Grid solutions is expected to accelerate our ability to achieve our goal of sustainable profitability and expand our offering of proprietary power products in the industrial and military sectors.”

Fairmount Partners served as the exclusive merger and acquisition advisor to NWL on this transaction, while Blank Rome provided legal advisory services and Kreischer Miller provided accounting advisory services.

About NWL

NWL is a leading manufacturer and designer of transformers, inductors and power supplies for industrial applications, specializing in power supplies for electrostatic precipitators. The company was founded in the 1930’s by John Nothelfer as a transformer repair shop known as Nothelfer Winding Laboratories, and has developed into a global provider of both magnetics and power supply products for the most technical applications. For more information, please visit: www.nwl.com

About AMSC (Nasdaq: AMSC)

AMSC generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner … better energy™. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. Through its Marinetec™ Solutions, AMSC provides ship protection systems and is developing propulsion and power management solutions designed to help fleets increase system efficiencies, enhance power quality and boost operational safety. Through its Windtec™ Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. The Company’s solutions are enhancing the performance and reliability of power networks, increasing the operational safety of navy fleets and powering gigawatts of renewable energy globally. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For more information, please visit www.amsc.com.

About Fairmount Partners

Fairmount Partners is an independent merger and acquisition advisory firm focused on supporting middle-market companies complete mergers and acquisitions, raise funds for growth, acquisitions, and liquidity, and design and improve their corporate development strategies.  Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies.  Since 2003, Fairmount has completed more than 295 transactions representing over $17 billion in aggregate value across 24 countries throughout North and South America, Europe, Asia, and Australia. For more information, please visit www.fairmountpartners.com.

Contact

Jonathan Smith

Managing Director, Fairmount Partners

jonathan.smith@fairmountpartners.com