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Trilantic North America Acquires Majority Stake in Sunbelt Transformer
Friday 08 June 2018

8 June 2018 - US-based private equity firm Trilantic North America has acquired a majority interest in Sunbelt Transformer, a provider of power solutions, equipment, and services to commercial, industrial and utility end markets, from Grey Mountain Partners, the firm said.

Trilantic North America invested in partnership with Sunbelt's CEO, Dan Sweeney, and other key members of management to support the company's next phase of growth.

As part of the transaction, Tom Smith, former CEO of MacLean Power Systems, will join the company as chairman of the board of directors. Trilantic North America previously held a minority interest in MacLean, a provider of power products to utility and industrial markets.

Sunbelt was founded in 1981 and provides its customers with timely, flexible and customized equipment solutions through multiple channels, including new, remanufactured and rental product offerings.

In addition, the company provides associated technical testing, repair, maintenance and installation services. Since its founding, Sunbelt has grown to over 150 team members across 10 locations nationwide.

Trilantic Capital Management is a private equity firm focused on control and significant minority investments in North America.

Trilantic North America's primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of USD 7.9bn.

Founded in 1981, Sunbelt Transformer is a provider of new and remanufactured electrical power and distribution equipment, including transformers, switchgear and circuit breakers, and related repair and field services.

Based in Temple, Texas and Sharon, Pennsylvania and operating from ten locations across the United States, Sunbelt is recognised for its highly customisable solutions, technical expertise, speed of service and unparalleled standard of care, by customers across commercial, industrial and utility markets, among others.

RW Baird and Co. acted as the exclusive financial advisor to Sunbelt on the transaction and Proskauer Rose LLP served as its legal advisor. Kirkland and Ellis LLP provided legal advice to Trilantic North America and Lincoln International LLC served as its financial advisor.
Details
Date Published: 08/06/2018
Target: Sunbelt Transformer
Country: USA
Sector: Utilities
Type: LBO
Financing:
Status: Closed
Vendor: Grey Mountain Partners
Buyer: Trilantic North America
Buyer Advisor: Kirkland and Ellis , Lincoln International
Comment:
Terms of the deal were not disclosed

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