Storage Battery Systems, a portfolio company of High Road Capital Partners, has acquired Nolan Power Group.
Nolan Power sells and services industrial stationary batteries, chargers, and backup power systems. The company also provides a range of services including power system evaluation and engineering, installation and disposition, maintenance, repair and testing. Customers of Nolan Power are active in the industrial, manufacturing, oil and gas, data center and telecommunications sectors.
Nolan Power, founded in 1979, has locations in Dallas and Houston, TX; Lakeland, FL; and is headquartered near New Orleans in Mandeville, LA (www.nolanpower.com).
High Road acquired Storage Battery Systems (SBS) from Supply Chain Equity Partners in May 2017. SBS is an assembler and distributor of branded, rechargeable industrial batteries and test equipment used in warehousing and logistics, and standby and uninterruptible power supply applications. Products and services include Lithium-Ion, Nickel Cadmium, sealed VRLA (valve-regulated lead-acid batteries in both absorbent glass mat (AGM) and Gel formats), wet cell batteries, as well as custom-designed power products; chargers, testing and monitoring equipment; and storage systems.
SBS was founded in 1915 and is headquartered near Milwaukee in Menomonee Falls, WI with additional facilities in Greenville, WI; Carol Stream, IL; and Ft. Wayne and Elkhart, IN (www.sbsbattery.com).
“Nolan Power is a leading provider of critical standby power solutions and services, and its top-notch technicians and commitment to service and training have positioned the company as the go-to provider in the Gulf Region,” said Ben Schnakenberg, a Partner at High Road. “Nolan Power’s service offering is highly complementary to SBS, and we look forward to supporting both companies as they look to leverage these capabilities to accelerate growth.” Mr. Schnakenberg led the transaction for High Road and was assisted by Nick Martino, Operating Partner; Scott Rubino, Principal; and Tom Cassidy, Associate.
High Road invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. High Road has completed 49 transactions – 18 platform investments, 24 add-on acquisitions and seven exits – since its founding in 2007. High Road is based in New York (www.highroadcap.com).
Twin Brook Capital Partners (www.twincp.com) provided financing for this transaction.
KPMG Corporate Finance was the financial advisor to Nolan Power.
© 2018 Private Equity Professional | July 26, 2018