January 17, 2024
Myers EPS Acquires Canadian Energy Storage Company, SPS
Storage Power Solutions joins Myers EPS, boosting battery storage offerings
Myers Emergency Power Systems (Myers EPS), the market leader in electrical and lighting inverter power products in the United States, and maker of other emergency power products, has significantly bolstered its portfolio through the acquisition of Storage Power Solutions (SPS), a provider of battery energy storage systems (BESS). This move marks a substantial enhancement in Myers EPS's offerings in the emergency power systems market.
Founded in 2014, SPS is headquartered near Toronto, Canada. The company specializes in designing, manufacturing and distributing large-scale battery energy storage solutions and UPS (Uninterruptible Power Supply) systems. These systems are crucial in ensuring uninterrupted power supply during main power source failures in commercial and industrial applications.
This latest acquisition is not Myers EPS's first. In 2019, the company acquired California-based Low Voltage Systems (LVS), expanding its product range in the fast-growing emergency lighting control and mini inverter segments.
John Daly, CEO of Myers EPS, expressed enthusiasm about the latest acquisition, noting, "We are extremely excited about our acquisition of SPS and the best-in-class design expertise the SPS team brings to the Myers EPS organization.” Daly emphasized the customizability and unique capabilities of EnerShed™, highlighting its flexibility to meet diverse customer needs, including retrofitting existing power systems. Daly's vision includes partnering with various channels, such as solar installers and EPC contractors, to deliver reliable and safe systems.
EnerShed is a smart energy storage solution that starts at a scalable 60kW capacity,is being rebranded under Myers EPS. EnerShed adheres to California's Title 24 solar plus storage regulations, presenting a ready-made solution for Myers EPS to support with its marketing efforts.
Canadian & OEM Market Strategy
The acquisition holds particular significance for Myers EPS’s strategy in Canada. Typically, American companies in the lighting fixtures and controls sector face relatively low barriers when entering the Canadian market – often requiring a product option for 347v operation. However, for emergency lighting and power products, the challenge is more significant due to the differences in Canadian electrical codes and regulations compared to the U.S.
Myers EPS’s move is strategic, expanding its capabilities and providing a strong foundation for its North American presence, with a possible enhancement in Canada. The company’s approach includes marketing products directly (often utilizing agent partners in the U.S.) and through an OEM channel, allowing other major brands to label Myers EPS products. This strategy enables Myers EPS to leverage its new battery energy storage products and UPS systems across both channels.
