Investcorp has acquired Houston-based RESA Power, a provider of power services, from Blue Sea Capital. No financial terms were disclosed.
New York, December 16, 2021 – Investcorp, a leading global alternative investment firm, today announced its acquisition of RESA Power (“RESA” or the “Company”), a leading provider of power services that enhances the safety, reliability, and efficiency of electric power systems, from Blue Sea Capital, a growth-oriented private equity firm. Terms of the transaction were not disclosed.
Headquartered in Houston, RESA has over 20 locations across the United States and Canada. The Company is a market leader in providing maintenance and testing, systems integration, and related distribution services to customers across the renewables, commercial, and industrial end markets in North America. The Company draws on its experienced and highly skilled employee base of NETA (InterNational Electrical Testing Association) technicians, systems solutions technicians, and engineers to serve over six thousand customers.
RESA is led by Monte Roach, an industry veteran with over 30 years of experience. Since Monte joined in 2019, the Company has accelerated its growth and positioned itself as an industry leader, starting two greenfield locations and completing four acquisitions in the last twelve months while providing exceptional services solving its customers’ most complex problems. Investcorp’s partnership with RESA will focus on continuing the Company’s organic growth, expanding geographically across North America, and accelerating the completion of strategic, value-creating add-on acquisitions.
“RESA operates in the large, growing power services market driven by several macroeconomic tailwinds, including the need to upgrade public and private electrical infrastructure. This increasing demand on power systems combined with a shortage of highly skilled technicians has allowed RESA to become a critical part of their customers’ workflow,” said Amit Gaind, Managing Director and Head of Industrial Services, Private Equity at Investcorp. “Monte and the RESA team have done a tremendous job growing the Company into a leading national player while retaining the culture that positions them as the employer of choice in the industry. We look forward to leveraging our expertise and resources to support RESA as it seeks to accelerate growth and strengthen its competitive position.”
“We believe Investcorp’s deep understanding of branch-based and human capital-centric Industrial Services businesses makes them an ideal partner for RESA’s next chapter of growth. Investcorp’s resources and expertise will help us accelerate our growth both organically and through acquisitions,” said Monte Roach, CEO of RESA Power. “We would like to thank Blue Sea Capital for their unwavering commitment to our business and true partnership orientation. It has been a pleasure to work with Blue Sea and we couldn’t be happier for them.”
Rick Wandoff, Managing Partner at Blue Sea Capital added, “Over the past four years, RESA has established itself as a leader in the electrical power services industry by offering best-in-class client service to customers and executing on multiple accretive acquisitions. We are proud of the company RESA has become under the leadership of a purpose-built management team. We are particularly appreciative of the contributions of RESA’s technicians and employees throughout the pandemic, which contributed to accelerating growth and share gains over the past twenty months. We wish Monte and the entire RESA team, as well as Investcorp, much continued success in their next phase of growth.”
Investcorp has a long history of investing across Industrial Services sectors with notable past investments including American Tire Distributors, Berlin Packaging, FleetPride, Wrench Group and most recently, RoadSafe Traffic Systems.
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure and insurance solutions. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach.
Investcorp has today a presence in 12 countries across the US, Europe, GCC and Asia, including India, China and Singapore. As of June 30, 2021, Investcorp Group had US $37.6 billion in total AUM, including assets managed by third party managers, and employed approximately 430 people from 45 nationalities globally across its offices. For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
About Blue Sea Capital
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $250 million. The firm has over $750 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation. For further information, visit www.blueseacapital.com.