M&A Deal Summary

Shermco Industries Acquires Power Test

On April 2, 2024, Shermco Industries acquired business services company Power Test

Acquisition Highlights
  • This is Shermco Industries’ 3rd transaction in the Business Services sector.
  • This is Shermco Industries’ 8th transaction in the United States.
  • This is Shermco Industries’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2024-04-02
Target Power Test
Sector Business Services
Buyer(s) Shermco Industries
Deal Type Add-on Acquisition

Target

Power Test

Harrisburg, North Carolina, United States
Power Test provides field service, maintenance, testing, repair, and analysis of power distribution systems and equipment to customers in Charlotte and Raleigh, NC, and surrounding areas. Power Test was formed in 2005 and is based in Harrisburg, North Carolina.

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Buyer(S) 1

Buyer

Shermco Industries

Irving, Texas, United States
Category Company
Founded 1974
Sector Business Services
DESCRIPTION

Shermco Industries is a provider of electrical testing, maintenance, commissioning, and repair services to a wide range of utility, industrial, energy, and other end markets. With more than 20 locations, Shermco serves a diversified blue-chip customer base across North America. The Company is an active participant in the InterNational Electrical Testing Association, Electrical Apparatus Service Association, and American Wind Energy Association. Shermco Industries was founded in 1974 and is based in Irving, Texas.

DEAL STATS #
Overall 11 of 12
Sector (Business Services) 3 of 3
Type (Add-on Acquisition) 10 of 11
State (North Carolina) 1 of 1
Country (United States) 8 of 9
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Innovative Electric

Everett, Washington, United States

Innovative Electric is a design-build electrical contracting business, based in Everett, Washington. Innovative has a background of value engineering and electrical installation while providing customers with specialized and complex commercial, industrial, and automation-related problem-solving solutions, including design-build services and electrical engineering, for over 25 years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 KTR Associates

Sinking Spring, Pennsylvania, United States

KTR Associates is a power system engineering company providing comprehensive power system consulting services, focusing on high and low-voltage power system engineering studies, NFPA 70E requirements (including arc flash studies), and electrical safety programs & training for numerous customers in PA, NJ, NC, and surrounding areas. KTR Associates is based in Sinking Spring, Pennsylvania.

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