M&A Deal Summary

Power Grid Components Acquires ITEC

On April 13, 2018, Power Grid Components acquired electrical equipment company ITEC from Falfurrias Capital Partners

Acquisition Highlights
  • This is Power Grid Components’ 1st transaction in the Electrical Equipment sector.
  • This is Power Grid Components’ 1st transaction in the United States.
  • This is Power Grid Components’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2018-04-13
Target ITEC
Sector Electrical Equipment
Buyer(s) Power Grid Components
Sellers(s) Falfurrias Capital Partners
Deal Type Add-on Acquisition

Target

ITEC

Monroe, North Carolina, United States
ITEC manufactures products for the electrical and electric utility industries in the United States and for export. ITEC is an original equipment manufacturer of instrument transformer products divided into two application areas: revenue metering and protective relaying. ITEC offers a broad variety of product designs well suited for voltage transformer and current transformer service areas. ITEC also offers various support and technical services relating to the application and in-service needs for instrument transformer products.

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Buyer(S) 1

Buyer

Power Grid Components

Bessemer, Alabama, United States
Category Company
Sector Electrical Equipment
DESCRIPTION

Power Grid Components was formed to acquire companies that supply products used in the North American electric power grid. The company supplies high-quality porcelain, glass, and polymer insulators, as well as instrument transformers for revenue metering and protective relaying to electric utilities, substation manufacturers, and other customers who support the grid. Power Grid Components is based in Bessemer, Alabama.

DEAL STATS #
Overall 1 of 3
Sector (Electrical Equipment) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (North Carolina) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-13 Royal Switchgear

Bessemer, Alabama, United States

Royal Switchgear manufactures substation and transmission group-operated disconnect switches, substation and distribution hookstick disconnects, and substation power connectors. Royal’s products are used to control, protect and isolate electric current in an electrical system. Royal adds to Power Grid’s existing suite of products that ensures the safety, reliability and efficiency in the broader electric grid.

Buy -

Seller(S) 1

SELLER

Falfurrias Capital Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Falfurrias Capital Partners is a private equity firm that invests in lower and middle-market companies located in the Eastern US. Falfurrias focuses on companies with experienced management teams, differentiated product features, diverse customers, revenues in excess of $10 million, and EBITDA of $5 million to $40 million. The Firm looks to invest at least $25 million per transaction. Specific areas of interest include financial services, consumer products, health care, building products, manufacturing, business services, education, training, infrastructure, and information services. The Firm will consider a variety of transaction types, including buyouts, growth capital financings, recapitalization, and corporate divestitures. Falfurrias Capital Partners was formed in 2006 and based in Charlotte, North Carolina.

DEAL STATS #
Overall 6 of 15
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 6
State (North Carolina) 5 of 6
Country (United States) 6 of 15
Year (2018) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 E-Tech

West Chester, Ohio, United States

E-Tech is a provider of software and automation systems integration & engineering design services for a diverse roster of blue-chip customers in categories ranging from pharmaceuticals and consumer packaged goods to logistics and food and beverage.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Tax Guard

Westminster, Colorado, United States

Tax Guard is a provider of data and services that help lenders accurately assess tax-related credit risk associated with potential borrowers. Tax Guard was founded in 2009 and is based in Westminster, Colorado.

Buy -
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