Argosy Private Equity has acquired Global Power Products in partnership with independent sponsor MTN Capital Partners.
Global Power Products (GPP) manufactures utility-grade transfer switches, revenue-class submeters, surge suppressors, and current transformers for the commercial, industrial and residential industries. GPP brand names include GenerLink, NE Meter, Surge Safe, and EZ Connect.
The company, led and co-founded by CEO Peter DiVincenzo, is based northeast of Atlanta in Lawrenceville, Georgia.
“We are delighted to be partnering with MTN and Argosy in our next phase of growth. This partnership will enable the company to focus more intently on developing and marketing our exciting existing and new products to our extensive customer base,” said Mr. DiVincenzo.
“The owners of GPP have built something really special over the past 26 years. Their products have an elegance to their innovative design and their Generlink product offers a higher level of safety for both the customer and utility workers,” said Kirk Griswold, a founding partner of Argosy. “We look forward to partnering with GPP to meet the growing market demand.”
Argosy Private Equity invests from $5 million to $25 million in lower middle-market companies that have revenues up to $100 million, EBITDA up to $10 million, and EBITDA margins of 10% or greater. Sectors of interest include niche manufacturing and business-to-business services companies. Argosy Private Equity is a division of Argosy Capital, an investment adviser with $2.3 billion of assets under management. The firm was founded in 1990 and is headquartered near Philadelphia in Wayne, Pennsylvania.
The acquisition of GPP is the third platform investment made by Argosy’s sixth private equity fund and it follows the buys of medical device manufacturer Bionix in January 2022 and financial services provider Wittenbach Business Systems in April 2021.
New York City-based MTN Capital Partners invests from $5 million to $25 million of equity in North American-based companies with revenues of at least $10 million and EBITDA from $2 million to $15 million across a wide range of industries.
MTN has worked alongside Argosy before, co-investing in three other portfolio companies including Rita’s Italian Ice, a franchisor of Italian ice stores in 2016, Sound Lounge, an audio post-production company, in 2016; and Joliet Equipment, a supplier of new and remanufactured traction motors, in 2008.
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