Hubbell Power Systems, Inc. (HPS), a subsidiary of Hubbell Incorporated, is a leading manufacturer of transmission, distribution, substation, OEM, and telecommunications products utilized by utilities. Founded in 1994 and headquartered in Columbia, South Carolina, HPS offers a comprehensive range of products, including construction and switching products, tools, insulators, arresters, pole line hardware, cable accessories, test equipment, transformer bushings, and polymer precast enclosures and equipment pads.
HPS's strategic focus centers on delivering high-quality, dependable products that support critical infrastructure across various industries. The company emphasizes innovation and customer-centric solutions, aiming to enhance the safety, reliability, and efficiency of power systems worldwide. HPS targets markets such as utilities, residential construction, transportation, gas, and water industries, providing products that meet or exceed ANSI standards.
As a subsidiary of Hubbell Incorporated, HPS contributes to the parent company's financial performance. In 2023, Hubbell Incorporated reported revenues of $5.6 billion, marking a 4.8% increase from the previous year. The company's market capitalization stood at $18.8 billion.
HPS has expanded its capabilities and market reach through strategic acquisitions. Notably, in 2017, the company acquired Aclara Technologies for $1.1 billion, enhancing its portfolio with smart meters and communication systems. Other significant acquisitions include Electro Composites Inc. in 2008 and PCORE Electric Co., Inc. in 2007, strengthening HPS's offerings in high-voltage bushings and related products.
HPS offers a diverse range of products across several categories:
- Distribution Products: Anchors and foundations, arresters, bushings, cable accessories, connectors, cutouts, enclosures, insulators, pole line hardware, reclosers, sectionalizers, and switching products.
- Communications Products: Above and below ground enclosures, bonding and grounding solutions, connectors, construction tools, drop wire hardware, and pole line hardware.
- Commercial & Industrial Products: Bushings, connectors, enclosures, grounding equipment, and hot line tools.
These products are marketed under various esteemed brands, including Anderson™, Chance®, Delmar®, Electro Composites™, EMC™, Fargo®, Hot Box®, Hubbell®, Ohio Brass®, Opti-Loop™, PCORE®, PenCell®, Polycast®, Reuel™, RFL®, Quazite®, Trinetics®, Turner Electric®, and USCO™.
HPS's technological innovation is evident in its development of products that meet or exceed ANSI standards, ensuring reliability and safety in power systems. The company's commitment to research and development has led to advancements in areas such as smart grid technologies, high-voltage insulation, and power system protection.
The leadership team at HPS includes:
- Greg Gumbs: Appointed President of Hubbell Utility Solutions (HUS) effective July 1, 2023. Prior to this role, Mr. Gumbs served as President of the Hubbell Electrical Solutions (HES) segment.
- Mark Mikes: Appointed President of the Hubbell Electrical Solutions (HES) segment effective July 1, 2023. Mr. Mikes has held various leadership positions within Hubbell, contributing significantly to the company's growth and innovation.
In June 2023, HPS announced significant leadership changes:
- Allan Connolly: President of Hubbell Utility Solutions (HUS) retired effective July 1, 2023. Mr. Connolly joined Hubbell in 2018 through the Aclara acquisition and served as President of HUS since 2019.
HPS operates in a competitive landscape alongside companies such as EnerSys, Teledyne Technologies, Pentair, Rockwell Automation, and Dover. These competitors offer products and solutions in electrical equipment, power management, and industrial automation, catering to similar markets and customer needs.
HPS has established strategic collaborations and partnerships to enhance its market position and innovation capacity. The acquisition of Aclara Technologies in 2017 expanded HPS's capabilities in smart grid solutions, enabling the company to offer advanced metering infrastructure and communication systems to utility customers.
HPS's strategic considerations involve maintaining a strong market position through continuous innovation, quality assurance, and customer-centric solutions. The company's diverse product portfolio and commitment to meeting industry standards provide a competitive advantage in serving the evolving needs of the utility and electrical industries.
Looking ahead, HPS aims to capitalize on clean energy megatrends, including grid modernization and energy efficiency. The company is committed to delivering high-quality products and solutions that support the development of a more reliable, resilient, and renewable energy infrastructure. Strategic investments in research and development, as well as potential future acquisitions, are expected to drive growth and innovation.
