High Road Capital Partners said July 25 that it completed its buy of Nolan Power Group LLC. Financial terms weren’t announced. Nolan Power, of Mandeville, Louisiana, provides stationary power management solutions.
HIGH ROAD CAPITAL PARTNERS ACQUIRES NOLAN POWER GROUP
NEW YORK, July 25, 2018 – High Road Capital Partners (www.highroadcap.com) announced today that it has completed the acquisition of Nolan Power Group, LLC (www.nolanpower.com). Nolan Power will be combined with Storage Battery Systems (“SBS”), which High Road acquired in May 2017 and was the seventh platform acquisition for High Road Capital Partners Fund II.
Based in Mandeville, Louisiana, Nolan Power Group is the Gulf Region’s premier provider of stationary power management solutions. It supplies and services reserve power batteries, stationary batteries, chargers and rectifiers, DC power systems, uninterruptible power supply (UPS) systems and supporting products for applications across the industrial, manufacturing, oil and gas, data center and telecommunications markets.
“Nolan Power Group is a leading provider of critical standby power solutions and services, and its top-notch technicians and commitment to service and training have positioned the company as the go-to provider in the Gulf Region,” said Ben Schnakenberg, Partner, High Road Capital Partners. “Nolan Power’s service offering is highly complementary to SBS, and we look forward to supporting both companies as they look to leverage these capabilities to accelerate growth,” Schnakenberg continued.
“We are thrilled to partner with High Road and SBS to expand our offerings and geographic reach,” said Bobby Nolan, Jr., CEO, Nolan Power Group. “High Road supports our commitment to be the premier provider of standby power services and solutions, and we are excited to have access to their resources and expertise to take Nolan Power to the next level.”
Storage Battery Systems and Nolan Power Group will continue to operate as independent entities led by their respective management teams, and Bobby Nolan will join the combined companies’ Board of Directors.
High Road’s acquisition of Nolan Power Group closed on July 20, 2018. Mr. Schnakenberg led the transaction for High Road and was assisted by Nick Martino, Operating Partner; Scott Rubino, Principal; and Tom Cassidy, Associate. Twin Brook Capital Partners provided financing for the transaction. High Road was advised by Jones Day. KPMG Corporate Finance advised Nolan Power Group. Transaction consideration was not disclosed.
High Road Capital Partners has completed 49 transactions – 18 platform investments, 24 add-on acquisitions and seven exits – since its founding in 2007.
For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
Nolan Power Group, LLC
Founded in 1979, Nolan Power Group is the Gulf Coast region’s premier provider of stationary power reliability solutions. Nolan Power Group sells and services industrial stationary batteries, chargers, uninterrupted backup power systems, and supporting backup power products, and evaluates, engineers, installs, disposes, maintains, repairs, and tests uninterrupted backup power systems. In addition to its Mandeville, Louisiana headquarters, Nolan Power has locations in Dallas and Houston, Texas and Lakeland, Florida. www.nolanpower.com
Storage Battery Systems, LLC
Established in 1915, Storage Battery Systems, LLC provides DC Power Solutions™ for stationary, UPS and forklift/motive power applications. Products and services include Lithium-Ion, Nickel Cadmium, sealed VRLA (AGM and Gel), wet cell batteries, as well as custom-designed power products; chargers, testing and monitoring equipment; storage systems; and skilled technical support. SBS is an ISO-9001 certified manufacturer based in Menomonee Falls, Wisconsin, with facilities in Greenville, Wisconsin; Carol Stream, Illinois; and Ft. Wayne and Elkhart, Indiana. www.sbsbattery.com
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