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.