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LFM-backed PSI buys Salient Power Solutions

PSI Power & Controls, which is backed by LFM Capital, has acquired Colorado-based Salient Power Solutions, a maker of switchboards, switchgear and power solutions.

PSI Power & Controls, which is backed by LFM Capital, has acquired Colorado-based Salient Power Solutions, a maker of switchboards, switchgear and power solutions. No financial terms were disclosed.

PRESS RELEASE

NASHVILLE, TN – April 6, 2022 – LFM Capital announced today that portfolio company PSI Power & Controls (“PSI”) has acquired Salient Power Solutions, LLC (“Salient”), a leading manufacturer of switchboards, switchgear, and power solutions. Financial terms of the transaction were not disclosed.

PSI is a leading manufacturer and assembler of custom electrical control panels and emergency power products. PSI’s Automation and Controls Solutions division serves large industrial OEMs focused on energy efficiency, motion control, and automation; the Emergency Power Products Division targets electrical distributors, electrical contractors, hospitals, data centers, and a host of other end-markets that require backup or temporary power sources to mitigate costly downtime resulting from power loss. PSI has been a portfolio company of LFM Capital since January 2020.

Salient, based in Nunn, Colorado, designs, engineers, and manufactures switchboards, switchgear, and other control-based power solutions. Salient sells to large generator dealers and engine manufacturers who rely upon Salient’s needed product portfolio to offer more complete emergency backup power systems to a variety of industries, including the high-growth data center end-market.

PSI’s President and CEO, Mark Todd, commented, “We are excited about the growth opportunities ahead for the combined business. We were immediately impressed with Salient’s creative and solutions-oriented culture, best-in-class flexibility, and superior lead times, along with Brian’s extensive sales and product development expertise. We look forward to working together to offer a full suite of power products and services to customers.”

Brian Kisner, Salient Founder and President, added, “It could not be a more opportune time for Salient to partner with PSI. Switching components have become increasingly critical to power backup and distribution systems, and end-users have been searching for a ‘one-stop-shop’ solution to their power needs and concerns. The additional capacity from PSI will enable the continued growth of Salient to support our customers.”

LFM Managing Director, Chris Lin, noted, “Salient is an important acquisition for PSI that will promote cross-selling opportunities, expand PSI’s access to key end-markets, specifically data centers, and broaden the current product offering. We look forward to helping drive continued growth across the newly combined company given the clear synergies that exist.”

About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.