M&A Deal Summary

Mill Point Capital Acquires Spire Power Solutions

On August 16, 2019, private equity firm Mill Point Capital acquired electrical equipment company Spire Power Solutions from Pioneer Power Solutions for 68M USD

Acquisition Highlights
  • This is Mill Point Capital’s 1st transaction in the Electrical Equipment sector.
  • This is Mill Point Capital’s 2nd 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.
Investment Fate
  • Spire Power Solutions was sold to a strategic buyer in 2022.

M&A Deal Summary
Date 2019-08-16
Target Spire Power Solutions
Sector Electrical Equipment
Buyer(s) Mill Point Capital
Sellers(s) Pioneer Power Solutions
Deal Type Divestiture
Deal Value 68M USD

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

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 11 of 28
Sector (Electrical Equipment) 1 of 2
Type (Divestiture) 4 of 7
State (Georgia) 2 of 3
Country (United States) 11 of 26
Year (2019) 3 of 4
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-25 Verinext

Blue Bell, Pennsylvania, United States

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

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

Ottawa, Ontario, Canada

Pythian Services 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

Fort Lee, New Jersey, United States
Category Company
Founded 2008
Sector Electrical Equipment
Employees143
Revenue 41M USD (2023)
DESCRIPTION

Pioneer Power Solutions is a manufacturer and seller of 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 2
Sector (Electrical Equipment) 1 of 2
Type (Divestiture) 1 of 2
State (Georgia) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-03 Pacific Power Systems Integration

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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-30 Pioneer Custom Electrical Products

Santa Fe Springs , California, United States

PCEP is an electrical infrastructure business providing energy solutions that allow users to effectively and efficiently protect, control, transfer, monitor and manage their electrical energy usage and requirements. PCEP is based in Santa Fe Springs, California.

Sell $50M
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