Pioneer Transformers acquires transformer products manufacturer Power Partners
Pioneer Transformers, a portfolio company of Mill Point Capital, has acquired Power Partners from Los Angeles-based private equity firm OpenGate Capital, for an undisclosed price.
Power Partners is a designer and manufacturer of pole-mount and pad-mount power transformers. Its acquisition is said to boost the product offering of Pioneer Transformer.
Dustin Smith – Partner at Mill Point said: “The acquisition of Power Partners is highly complementary to Pioneer as it dramatically diversifies Pioneer’s customer base, adds a natural extension to Pioneer’s existing product suite and results in a primarily replacement-driven revenue base.
“We identified Power Partners as an attractive opportunity for Pioneer prior to making our initial investment, and we are thrilled that Power Partners and its leadership team are joining the Mill Point family of companies.”
Pioneer Transformers acquires transformer products manufacturer Power Partners. Image by Free-Photos from Pixabay.
Headquartered in Athens in Georgia, Power Partners is engaged in the manufacturing of custom, semi-custom and standard transformer products for public power, investor-owned utility, industrial, and commercial OEMs, and global customers. Its products are single-phase and three-phase pole-mount transformers, single-phase pad-mount transformers, large-format pole-mount transformers, and others.
Antony Besso – Executive Chairman of Pioneer Transformers and an Executive Partner of Mill Point said: “Justin Smith, President of Power Partners, and his team have done an exceptional job implementing LEAN processes and optimizing their operations to create a highly-efficient pole-mount and pad-mount transformer business.
“By combining Power Partners with the existing Pioneer platform, we have created a leading pure-play transformer company in North America, enabling us to better serve all customers.”
Pioneer Transformers is an engineer and manufacturer of specialty liquid-filled and dry-type power transformers used in niche applications in industrial, commercial, OEM, and backup power markets.