Power Grid Components acquires instrument transformer maker
Power Grid Components, Inc., a company formed by a private equity firm Shorehill Capital LLC and Rick McClure, has announced the completion of the acquisition of Instrument Transformer Equipment Corporation (ITEC), a North Carolina-based manufacturer of dry molded and oil-filled instrument transformers.
“The partnership with Power Grid will bring added resources to allow our company to grow and achieve our strategic goals,” Clinton Gehrmann, President of ITEC, said.
Upon completion of the acquisition, Mr. Gehrmann joined the board of directors of Power Grid.
Source: Shorehill Capital