M&A Deal Summary

Apollo Global Management Acquires PowerGrid Services

On May 13, 2025, asset manager Apollo Global Management acquired business services company PowerGrid Services from The Sterling Group

Acquisition Highlights
  • This is Apollo Global Management’s 7th transaction in the Business Services sector.
  • This is Apollo Global Management’s 105th transaction in the United States.
  • This is Apollo Global Management’s 1st transaction in Alabama.

M&A Deal Summary

Date 2025-05-13
Target PowerGrid Services
Sector Business Services
Buyer(s) Apollo Global Management
Sellers(s) The Sterling Group
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Kirkland & Ellis (Legal)

Target

PowerGrid Services

Hartselle, Alabama, United States
PowerGrid Services is a utility services business providing repair and maintenance services for distribution, transmission, and substation infrastructure. PowerGrid Services is based in Hartselle, Alabama.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 147 of 147
Sector: Business Services M&A 7 of 7
Type: Secondary Buyout M&A Deals 35 of 35
State: Alabama M&A 1 of 1
Country: United States M&A 105 of 105
Year: 2025 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-08 Aspen

Hamilton, Bermuda

Aspen is a provider of reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom, and the United States. Aspen was founded in 2002 and is based in Hamilton, Bermuda.

Sell -

Seller(S) 1

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


DEAL STATS #
Overall 35 of 36
Sector: Business Services M&A 5 of 5
Type: Secondary Buyout M&A Deals 17 of 18
State: Alabama M&A 2 of 2
Country: United States M&A 32 of 33
Year: 2025 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 Artisan Design Group

Dallas, Texas, United States

Artisan Design Group is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders. Artisan Design Group was founded in 2016 and is based in Dallas, Texas.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-21 West Star Aviation

East Alton, Illinois, United States

West Star Aviation is an independent maintenance, repair, and overhaul (MRO) provider that offers comprehensive services. The company’s extensive capabilities encompass airframe maintenance, paint, interior, and avionics services, supported by the largest Aircraft On Ground (AOG) technician network in the country, ensuring prompt and reliable mobile repair services nationwide. West Star Aviation was founded in 1952 and is based in East Alton, Illinois.

Sell -