M&A Deal Summary

Electric Research and Manufacturing Cooperative Acquires Spire Power Solutions

On December 15, 2022, Electric Research and Manufacturing Cooperative acquired electrical equipment company Spire Power Solutions from Mill Point Capital

Acquisition Highlights
  • This is Electric Research and Manufacturing Cooperative’s 2nd transaction in the Electrical Equipment sector.
  • This is Electric Research and Manufacturing Cooperative’s 2nd transaction in the United States.
  • This is Electric Research and Manufacturing Cooperative’s 1st transaction in Georgia.

M&A Deal Summary
Date 2022-12-15
Target Spire Power Solutions
Sector Electrical Equipment
Buyer(s) Electric Research and Manufacturing Cooperative
Sellers(s) Mill Point Capital
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)

Target

Spire Power Solutions

Athens, Georgia, United States
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

Electric Research and Manufacturing Cooperative

Dyersburg, Tennessee, United States
Category Company
Sector Electrical Equipment
DESCRIPTION

Electric Research and Manufacturing Cooperative, Inc. (ERMCO) is a manufacturer of distribution transformers and transformer components.

DEAL STATS #
Overall 2 of 2
Sector (Electrical Equipment) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 GridBridge

Raleigh, North Carolina, United States

GridBridge Corp. is a power delivery system company which provides a platform-based products give customers unprecedented electric power delivery versatility and dependability. GridBridge was founded in 2012 and is based in Raleigh, North Carolina.

Buy -

Seller(S) 1

SELLER

Mill Point Capital

Category Private Equity Firm
PE ASSETS 1.4B USD
Size Large
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 6 of 9
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 4 of 5
State (Georgia) 2 of 3
Country (United States) 6 of 9
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 CrashPlan

Minneapolis, Minnesota, United States

CrashPlan provides peace of mind through secure, scalable, and straightforward endpoint data backup. The company help organizations recover from any worst-case scenario, whether it is a disaster, simple human error, a stolen laptop, ransomware, or an as-of-yet undiscovered calamity. CrashPlan continues to innovate as the work landscape evolves, making CrashPlan foundational to organizations’ data security. What starts as endpoint backup and recovery becomes a solution for ransomware recovery, breaches, migrations, and legal holds. Its data security solution is a product of Code42, an industry leader protecting the critical data of more than 50,000 world-class organizations, including the largest global brands. CrashPlan was founded in 2001 and is headquartered in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-21 Vertullo

Garden City, New York, United States

Vertullo is a specialty imports business, importing over 150 items from 19 countries including pasta, rice, sauces, oils, truffles, and other fresh and frozen goods. It supplies products to Seviroli as well as third-party food service, retail, and e-commerce trade customers. Vertullo is based in Garden City, New York.

Buy -
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