Huntsman Gay Global Capital has sold its portfolio company Power Holdings, a provider of maintenance services to the electrical utility industry, to Kelso & Company for $380 million.
Power Holdings is a provider of scheduled and emergency outsourced maintenance services to the electrical utility industry. The company is comprised of two operating subsidiaries – Alexandria, LA-based T&D Solutions (www.tdsolutions.com) and Hartselle, AL-based Associated Diversified Services (www.wearediversified.com).
Lincoln International acted as the exclusive financial advisor to Power Holdings and Huntsman Gay, working closely with the management team and shareholders throughout the sale process.
“Lincoln’s highly customized marketing effort, ability to access key decision makers and deep understanding of Power Holdings’ compelling value proposition enabled the shareholders to achieve a highly attractive valuation,” said Gary Crittenden, Managing Partner of Huntsman Gay.
Huntsman Gay invests from $25 million to $100 million in equity in middle-market companies with $75 million to $1 billion in revenues and $20 million to $75 million in EBITDA. The firm is industry agnostic but has sector expertise in the following areas: aerospace & defense; chemicals; construction; consumer products; electronics; energy; financial services; health & and wellness; healthcare; IT services; manufacturing; media; multi-level marketing; retail oil and gas; and software. The firm is headquartered in Palo Alto, CA and has offices in Salt Lake City, UT, Palm Beach, FL and Foxborough, MA (www.hgequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-16-13
