M&A Deal Summary

Spire Power Solutions Acquires Power Partners

On November 22, 2019, Spire Power Solutions acquired electrical equipment company Power Partners from OpenGate Capital

Acquisition Highlights
  • This is Spire Power Solutions’ 1st transaction in the Electrical Equipment sector.
  • This is Spire Power Solutions’ 1st transaction in the United States.
  • This is Spire Power Solutions’ 1st transaction in Georgia.

M&A Deal Summary
Date 2019-11-22
Target Power Partners
Sector Electrical Equipment
Buyer(s) Spire Power Solutions
Sellers(s) OpenGate Capital
Deal Type Add-on Acquisition

Target

Power Partners

Athens, Georgia, United States
Power Partners, Inc. is a designer and manufacturer of high-quality pole-mount and pad-mount power transformer products for an investor-owned utility, public power, industrial and commercial OEMs and international customers. Products include single-phase and three-phase pole-mount transformers, large-format pole-mount transformers and single-phase pad-mount transformers. Power Partners, Inc. is headquartered in Athens, GA, and has been a reliable partner to its customers since its founding in 1958.

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Buyer(S) 1

Buyer

Spire Power Solutions

Athens, Georgia, United States
Category Company
Founded 2019
Sector Electrical Equipment
DESCRIPTION

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.

DEAL STATS #
Overall 1 of 2
Sector (Electrical Equipment) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Georgia) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-12 V&F Transformer

Elgin, Illinois, United States

V&F Transformer is a manufacturer of custom dry-type transformers and magnetic components for electrical power management and power distribution equipment in high-growth end markets including Data Centers, Electric Vehicle/Battery, and Industrial Automation. V&F’s engineering first approach enables industry-leading product performance for mission-critical and highly demanding applications. V&F Transformer is based in Elgin, Illinois.

Buy -

Seller(S) 1

SELLER

OpenGate Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 890M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

OpenGate Capital is a private investment firm focused on acquiring divestitures of larger public corporations or troubled companies needing restructuring. OpenGate does not focus any particular industry and will consider opportunities throughout North America and Europe. The Firm's target companies with up to $1 billion of revenue and valued up to $300 million. OpenGate Capital was formed in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 20 of 32
Sector (Electrical Equipment) 2 of 2
Type (Add-on Acquisition) 6 of 15
State (Georgia) 1 of 1
Country (United States) 7 of 12
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 CoreMedia

Hamburg, Germany

CoreMedia is a provider of content management and digital experience platform which offers blend real-time product information with multimedia marketing content to deliver personalized product messaging across a variety of digital channels. CoreMedia was founded in 2000 and is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Aurotech

Silver Spring, Maryland, United States

Aurotech is a provider of digital services and business solutions for US federal healthcare and adjacent civilian agencies for which they design and implement information technology plans and build technology powered business tools. Aurotech was founded in 2007 and is based in Silver Spring, Maryland.

Buy -
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