Mason Wells has made an investment in CE Power Solutions, a provider of engineering, testing, and maintenance services to the utility and industrial sectors.
“Mason Wells is pleased to support the existing management team of in CE Power in their growth strategy,” said Kevin Kenealey, Senior Managing Director at Mason Wells. “We believe the company provides an excellent platform for growth and is well positioned to capitalize on a number of favorable market opportunities.”
CE Power provides electrical power engineering, testing, and maintenance services to utility power plants, alternative energy facilities, transmission & distribution substations, industrial facilities, and institutional facilities. The company’s core focus is on power systems operating in the 480 volt through 765 kilovolt range. CE Power is led by CEO Bill McCloy and is headquartered in Cincinnati (www.cepower.net).
“We are excited about the opportunity to partner with Mason Wells to continue the growth of CE Power,” said Mr. McCloy. “Mason Wells will provide us with the additional resources needed to achieve our long-term growth initiatives and with their strong financial backing we plan to expand our geographic footprint and anticipate adding new locations around the country, including through acquisition.”
Mason Wells makes investments in Midwest-based companies with revenues of $25 million to $300 million and EBITDAs of at least $5 million. Sectors of interest include consumer packaged goods, packaging materials & converting, outsourced business services, and engineered products & services. The firm is currently investing through Mason Wells Buyout Fund III, a $525 million fund. Mason Wells was founded in 1982 and is based in Milwaukee (www.masonwells.com).
2015 PEPD • Private Equity’s Leading News Magazine • 5-6-15
