GenNx360 Capital Partners has acquired GenServe, a provider and servicer of emergency power generators.
According to GenNx360, GenServe is the largest independent commercial provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region. The company was founded in 1990 and has approximately 80 employees. GenServe, led by its president Michael Vahling, is headquartered on Long Island in Plainview, NY with two additional branch offices in Fairfield, NJ and Pennsauken, NJ (www.genserveinc.com).
“GenNx360’s knowledge and extensive experience working with business-to-business service companies makes for an attractive partnership opportunity,” said Mr. Vahling. “We look forward to working with GenNx360 to successfully execute on the next phase of our growth strategy.”
“We are excited to begin this partnership with GenServe. Its talented employees and leadership have built a great company with a stellar reputation for safety, quality, and exceptional customer service. We look forward to helping the company expand their footprint and drive industry-leading growth,” said Daphne Dufresne, a GenNx360 Managing Partner.
GenNx360 invests equity of $25 million to $75 million in companies that have revenues from $75 million to $250 million and EBITDA from $8 million to $25 million. Typical transaction sizes range from $50 million to $200 million. Target industries include industrial machinery and components, logistics, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York (www.gennx360.com).
© 2018 Private Equity Professional | April 16, 2018