CES Power, a portfolio company of Allied Industrial Partners, has acquired Global Power Systems (GPS), a provider of power generation and temperature control services to the film and television industry.
GPS was founded in 2008 by Charley Burnham and Brian Kay and primarily serves customers operating in Louisiana, Georgia, and North Carolina. The two founders will continue with the business in partnership with CES.
“Combining forces with CES Power is an incredible opportunity to join a team that understands our niche industry, has a strong brand and can provide additional equipment and resources to support our growing customer base,” said Mr. Burnham and Mr. Kay in a released statement.
Allied Industrial formed CES Power to carve out CAT Entertainment Services from Ring Power Corporation in June 2021. The acquisition of GPS is CES Power’s fourth add-on acquisition and follows the earlier acquisitions of Florida-based Production Power (December 2021), California-based West Coast Cinema (March 2022), and Brickworks (September 2022). Allied Industrial continues to seek additional add-on acquisitions for CES.
Today, CES is a provider of power services for the broadcasting, entertainment, emergency response, and industrial sectors including at music and arts festival, concerts, feature film sets, professional sporting events, corporate conventions, and field hospitals. The company’s services and equipment include power generation and distribution; chillers, air conditioners, and electric heaters; lighting and screens; ramps and matting; and EPA-emission-certified green equipment. CES, led by CEO Greg Landa, was founded in 2000 and is headquartered in Memphis, Tennessee.
“The acquisition of GPS immediately increases CES’ presence in Louisiana, Georgia, North Carolina, and New Mexico by adding one of the most well-respected movie-silent generator companies in the South,” said Josh Mosko, the vice president of business development at CES.
“We are excited about the opportunities GPS will offer CES as it continues its growth trajectory. Allied Industrial is a believer in the buy-and-build model, and this is the latest example of that strategy,” said Bradford Rossi and Philip Wright, the co-founders and managing partners of the firm. “CES has acquired several strategic add-on acquisitions over the past 18 months, and we look forward to the wide range of opportunities our buy-and-build strategy will provide for further growth.”
Allied Industrial invests in lower and middle-market companies that have EBITDA from $2 million to $25 million. Sectors of interest include industrial rentals, manufacturing, distribution, environmental services, and infrastructure sectors. The firm was founded in 2019 and is headquartered in Houston.
© 2023 Private Equity Professional | January 5, 2023
