GenServe, a portfolio company of GenNx360 Capital Partners, has acquired GenAssist, a provider of maintenance and repair services to industrial generators and backup power solutions, as well as equipment sales in New York and New Jersey. No financial terms were disclosed.
NEW YORK, Aug. 6, 2019 /PRNewswire/ — In partnership with GenNx360 Capital Partners, GenServe, LLC (“GenServe”) is pleased to announce the acquisition of GenAssist Corporation (“GenAssist” or the “Company”).
GenAssist provides maintenance and repair services to industrial generators and backup power solutions, as well as equipment sales in New York and New Jersey. The Company serves a diverse set of customers in the corporate and real estate end markets and has a strong service focus.
“We are excited about our third acquisition over the last nine months. GenAssist has a strong commercial service focus that further strengthens our service portfolio and sales team in the Metro-New York and New Jersey regions,” said Mike Vahling, President and COO of GenServe.
“With more than 35 years of experience in the generator industry, I am excited to become a member of the GenServe team. As the leading independent generator maintenance, service and sales platform in the North Atlantic, GenServe has a best-in-class reputation and an exciting platform for further growth,” said Mike Barker, Founder of GenAssist.
GenServe is a leader in the sale, maintenance and repair of industrial generators and backup power solutions. The Company has the largest team of EGSA certified technicians in its core service area of Metro-NY, Long Island, New Jersey, and Eastern Pennsylvania. GenServe is a one-stop shop provider of comprehensive emergency power supply system solutions to protect companies against the high cost of power failure. For more information on GenServe Inc., please visit www.genserveinc.com
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit http://www.gennx360.com.