PE-backed Pilot Power Group acquires Trebel Energy

Pilot Power Group, which is backed by Boyne Capital Partners, has acquired Mansfield, Ohio-based Trebel Energy, a provider of electricity and natural gas procurement services.

Pilot Power Group, which is backed by Boyne Capital Partners, has acquired Mansfield, Ohio-based Trebel Energy, a provider of electricity and natural gas procurement services. No financial terms were disclosed.


MIAMI, Dec. 20, 2021 /PRNewswire/ — Boyne Capital Partners (“Boyne”) is pleased to announce that its portfolio company, Pilot Power Group (“Pilot”) has acquired Trebel Energy (“Trebel” or the “Company”), a leading provider of electricity and natural gas procurement services to municipal aggregation (CCA) and commercial clients in Ohio.

Headquartered in Mansfield, OH, Trebel guides customers through the complex process of aggregation formation by i) educating and gathering approval from local residences, ii) analyzing and negotiating sustainable “energy choice” products from various retail energy providers, and iii) maintaining procurement programs post-contracting. Visit for additional information.
Headquartered in San Diego, CA, Pilot offers clients custom tailored services that can lower utility costs and provide greater procurement flexibility than utility-based suppliers or traditional retailers. When assisting customers, Pilot acts as an independent energy advisor, ensuring customers obtain the energy supply best suited to their needs. To assist with regulatory compliance and aid in procurement, Pilot provides analytics to support billing, consumption targeting, new energy purchase program evaluation, and existing program monitoring. Visit for additional information.

Boyne Managing Partner and CEO, Derek McDowell, said, “Trebel has an outstanding reputation in the Ohio market amongst its long-standing customers as a best-in-class partner to CCAs, and we’re pleased to partner with Trebel’s founder, Scott Belcastro, to continue building on his vision. We believe that Pilot Power Group will help enhance Trebel’s offering by expanding services and capabilities. This new partnership is highly synergistic, with the customer winning.”

Scott Belcastro, President and founder of Trebel, said, “Pilot brings a wealth of resources to Trebel, including data analytics, wholesale supply relationships, and commercial software capabilities that will allow us to further save our customers time and money. We are thrilled to announce this exciting new partnership. I’ve always put the customer first, and I know this direction will result in an even better overall experience for them.”

Ian Middleton, founding member of Pilot, said, “Scott’s positive impact on the Ohio CCA market cannot be overstated; Trebel has reduced costs for hundreds of thousands of end users. Trebel and Pilot are culturally aligned, sharing a desire to educate customers on energy choice and saving them costs along the way. We’re excited for Trebel’s next chapter.”

Vin Deshpande and Fernando Alvarez of Drexel Hamilton served as exclusive financial advisor to Trebel.

About Boyne Capital
Boyne Capital Partners is a Florida-based private equity firm focused on investments in lower middle market companies. Boyne Capital is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than $100 million and EBITDA of $3 million to $15 million. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, niche manufacturing, and business and financial services among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive both company performance and growth. Boyne specializes in providing the capital necessary to fund corporate growth and facilitate owners’ and shareholders’ partial or full exit.