USA, Georgia: PPI, parent company of Power Partners, has announced that they have signed an agreement for the sale of Power Partners to OpenGate Capital, a global private equity firm.

Distribution transformer plant sold to private equity firm

USA, Georgia: PPI, parent company of Power Partners, has announced that they have signed an agreement for the sale of Power Partners to OpenGate Capital, a global private equity firm.

Power Partners is a manufacturer of overhead distribution transformers with a plant in Athens, Georgia.

OpenGate Capital manages a portfolio of companies, including a distribution transformer company based in Oregon. The transaction is expected to close by January 15, 2016, according to PPI.

“The 55-year old plant needs capital investment to take it to the next level,” said Steve Hollis, PPI co-owner and chairman.

Source: PPI