M&A Deal Summary

Mill Point Capital Acquires Spire Power Solutions

On July 1, 2019, private equity firm Mill Point Capital LLC acquired electrical equipment company Spire Power Solutions L.P from Pioneer Power Solutions, Inc. for 68M USD

Acquisition Highlights
  • This is Mill Point Capital’s 1st transaction in the Electrical Equipment sector.
  • This is Mill Point Capital’s 1st largest (disclosed) transaction.
  • This is Mill Point Capital’s 11th transaction in the United States.
  • This is Mill Point Capital’s 2nd transaction in Georgia.

M&A Deal Summary

Date 2019-07-01
Target Spire Power Solutions L.P
Sector Electrical Equipment
Buyer(s) Mill Point Capital LLC
Sellers(s) Pioneer Power Solutions, Inc.
Deal Type Divestiture
Deal Value 68M USD

Target

Spire Power Solutions L.P

Athens, Georgia, United States
website
Spire Power Solutions brings together a wide range of transformers and power solutions to serve utility, renewable energy, public power, commercial, and industrial markets across North America. With rapid response times and over 100 years of operations and engineering expertise, Spire delivers a complete range of proven products, services, and support tailored for customers’ success. Spire Power Solutions was formed in 2019 and is based in Athens, Georgia.

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Buyer(S) 1

Buyer

Mill Point Capital LLC

Investor

website


Category Private Equity Firm
PE ASSETS 450M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Mill Point Capital is a private equity firm focused on buyouts of established middle-market companies with strong track records. The Firm will consider opportunities throughout North American and generally looks to invest $15 to $80 million in companies valued up to $250 million. Sectors of interest include industrial and business services. Mill Point Capital is based in New York City.


DEAL STATS #
Overall 11 of 18
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 4 of 4
State (Georgia) 2 of 2
Country (United States) 11 of 17
Year (2019) 3 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-25 Anexinet Corp.

Blue Bell, Pennsylvania, United States

Anexinet Corp. is an IT services firm that specializes in app development, business intelligence, infrastructure services, mobility, managed services, and cloud hosting services. Anexinet was founded in 1999 and is based in Blue Bell, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-09 Pythian Services, Inc.

Ottawa, Ontario, Canada

Pythian Services, Inc. is an IT services provider specializing in cloud applications, data analytics, and database management. Pythian Services is based in Ottawa, Ontario.

Buy -

Seller(S) 1

SELLER

Pioneer Power Solutions, Inc.

Fort Lee, New Jersey, United States

website


Category Company
Founded 2008
SectorElectrical Equipment
Employees94
Revenue 19M USD (2020)
DESCRIPTION

Pioneer Power Solutions is a manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. Pioneer Power Solutions was founded in 2008 and is based in Fort Lee, New Jersey.


DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-03 Pacific Power Systems Integration, Inc.

Santa Fe Springs, California, United States

Pacific Power Systems Integration, Inc. is specializes in manufacturing custom electrical power distribution and control equipment, with a specific emphasis on low voltage draw-out, metal-enclosed and metal-clad switchgear.

Buy -