M&A Deal Summary

Sunbelt Solomon Acquires Solomon

On July 1, 2019, Sunbelt Solomon acquired electrical equipment company Solomon from GFI Energy Ventures

Acquisition Highlights
  • This is Sunbelt Solomon’s 1st transaction in the Electrical Equipment sector.
  • This is Sunbelt Solomon’s 2nd transaction in the United States.
  • This is Sunbelt Solomon’s 1st transaction in Kansas.

M&A Deal Summary
Date 2019-07-01
Target Solomon
Sector Electrical Equipment
Buyer(s) Sunbelt Solomon
Sellers(s) GFI Energy Ventures
Deal Type Merger
Advisor(s) Harris Williams & Co. (Financial)
Kirkland & Ellis (Legal)

Target

Solomon

Solomon, Kansas, United States
Solomon is a a full-service transformer rebuilder with a maintenance facility that also specializes in sales and service of distribution transformers, voltage regulators, oil circuit reclosers and switches, as well as transformer parts and components. Solomon was formed in 1971 and is based in Solomon, Kansas.

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Buyer(S) 1

Buyer

Sunbelt Solomon

Temple, Texas, United States
Category Company
Founded 1981
Sector Electrical Equipment
DESCRIPTION

Sunbelt Solomon is a provider of new and remanufactured electrical power and distribution equipment, including transformers, switchgear and circuit breakers, and related repair and field services. Sunbelt is recognized for its highly customizable solutions, technical expertise, speed of service and unparalleled standard of care, by customers across commercial, industrial and utility markets, among others. Sunbelt Solomon was founded in 1981 and is based in Temple, Texas.

DEAL STATS #
Overall 2 of 4
Sector (Electrical Equipment) 1 of 2
Type (Merger) 1 of 1
State (Kansas) 1 of 1
Country (United States) 2 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-26 Delta Testing Services

Bakersfield, California, United States

Delta Testing specializes in the maintenance, testing, and servicing of electrical equipment in California, providing technical expertise and industry-leading service levels to industrial and manufacturing customers for more than twenty years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-11 Valley Transformer

Otis Orchards, Washington, United States

Valley Transformer is a provider of transformer repair and refurbishment services for utilities, public utility districts and commercial customers throughout the Pacific Northwest. Valley offers factory-authorized service for all major manufacturers, along with comprehensive trucking services for pickup and delivery. Valley Transformer was established in 1980 and is based in Otis Orchards, Washington.

Buy -

Seller(S) 1

SELLER

GFI Energy Ventures

Los Angeles, California, United States
Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.

DEAL STATS #
Overall 27 of 30
Sector (Electrical Equipment) 5 of 5
Type (Merger) 1 of 1
State (Kansas) 1 of 1
Country (United States) 25 of 28
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-05 Shermco Industries

Irving, Texas, United States

Shermco Industries, Inc. 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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-15 KDB

Rockville, Maryland, United States

KDB is a construction and engineering company, that offers engineering and design, fabrication, construction, commissioning and service. Kirlin Group comprised of full-service specialty contracting companies capable of performing any type of commercial, industrial and governmental construction and renovation projects. The Kirlin Group was founded in 1960 and is based in Rockville, Maryland.

Sell -
Mergr

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Company

Legal