Grey Mountain Partners has acquired a majority stake in Sunbelt Transformer, LTD, investing alongside management. Sunbelt makes new and re-manufactured electrical power and distribution equipment.
Sunbelt Transformer, LTD. (the “Company” or “Sunbelt”) announced that on December 30, 2014, Grey Mountain Partners (“Grey Mountain”) invested in the Company alongside the management team and acquired a majority ownership position. As partners, management and Grey Mountain will work together to support the Company’s long-term strategic growth plan, which centers on enhancing its current service offering and expanding its product line to better serve its customers’ needs.
Dan Sweeney, who became Sunbelt’s Chief Executive Officer in connection with the transaction, said, “We are excited to be working with Grey Mountain Partners as our new equity partner. Like us, Grey Mountain is dedicated to constant improvement, and our shared philosophy of continuous process enhancement should make this a great partnership going forward. We look forward to utilizing Grey Mountain’s resources and expertise to take the Company to the next level as we seek to offer our customers more and better services, with an emphasis on speed, customization and ease of doing business!”
About Sunbelt Transformer, LTD.
Sunbelt Transformer, based in Temple, Texas and Sharon, Pennsylvania, is a leading provider of new and remanufactured electrical power and distribution equipment (e.g., transformers, switchgear, circuit breakers, etc.) and related repair and field services. Operating from eight locations across the United States, Sunbelt is recognized as the leading national brand in providing rapid, customized and even temporary electrical equipment solutions for commercial and industrial customers. Since 1981, Sunbelt has invested in developing a talented group of employees and unique capabilities, building a comprehensive managed inventory of new and used equipment, and developing a state-of-the-art technology backbone to deliver superior service and associated logistics. For more information, please visit http://www.sunbeltusa.com.
About Grey Mountain Partners
Grey Mountain Partners is a Boulder, Colorado-based private equity firm that focuses on partnering with management teams to create lasting value through operational improvements and by supporting strategic growth initiatives. The firm invests in lower middle-market companies across a wide range of industries and has approximately $700 million of assets under management.
For additional details on the transaction, to discuss new investment opportunities, or to learn about Grey Mountain’s Executive Sponsorship Program, please contact Ben Ault. For more information about Grey Mountain Partners, please visit www.greymountain.com.