Oaktree Capital Management Acquires Shermco
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Oaktree Capital Management Acquires Shermco

The GFI Energy Group of Oaktree Capital Management has acquired Shermco Industries, a provider of testing, maintenance, repair, engineering, training and commissioning services for low, medium and high voltage electrical equipment, motors and generators.  Oaktree acquired Shermco in partnership with its existing management team which will continue to serve in the same capacity.

“Since Shermco’s founding, our team has worked tirelessly to deliver best in class service and uncompromising safety to our customers. We are excited to be partnering with Oaktree to continue this strong tradition and welcome the additional resources they bring to pursue our strategic growth plans and targeted acquisitions,” said Ron Widup, CEO of Shermco.

Shermco Industries is a provider of testing, maintenance, repair and commissioning services for electrical infrastructure including substations, switchgear, transformers, motors and generators. The company has over 450 full-time employees and serves commercial, industrial, municipal and utility customers throughout North America.  Shermco was founded by Peter Sherman in 1974 and is based in Irving, TX (www.shermco.com).

“We are very proud of the company we have built since its founding in 1974. I am pleased to be passing the reigns to Ron Widup and Oaktree and our entire team is looking forward to the next chapter for Shermco,” said Mr. Sherman.

Oaktree Capital Management makes investments in distressed debt, real estate, high yield and convertible bonds, specialized private equity, emerging market and Japanese securities and mezzanine finance.  The  firm has over 600 employees and $81 billion in assets under management and is headquartered in Los Angeles (www.oaktreecapital.com).

“We have long viewed Shermco to be a leader in the electrical equipment testing, maintenance, repair and commissioning industry and are thrilled to be partnering with Ron and his team. We are particularly excited to bring additional resources and capital to support Shermco’s growth plans and help expand its capacity to serve current and future customers,” said Michael Cardito, Senior Vice President of Oaktree’s GFI Energy Group.

© 2012 PEPD • Private Equity’s Leading News Magazine • 12-19-12

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