One Equity Partners buy the Brush Group
USA, New York: One Equity Partners (OEP) announced that they bought the transformer, switchgear, rotation machine and services interests vested in the Brush Group.
The transaction formalities concluded mid-summer.
The US based OEP is a private equity firm with historical links to JP Morgan, boasting investments to the value of $6 B in diversified assets in the industrial, healthcare and technology sectors across the North America and Europe. Since its creation in 2001, the company successfully completed more than 300 middle market transactions worldwide. Their European offices are based in Amsterdam and Frankfurt.
The UK based BRUSH has a long-standing manufacturing tradition in the energy industry and had largely been focused in serving their global customer base. The transformer and switchgear factories are in the UK whilst the rotating (turbogenerator) machine factory is in Pilsen, the Czech Republic. In the same statement OEP announced that Brush, founded in 1889, also acquired Aprenda, a specialist electrical engineering company with a significant focus on consultancy and design and turnkey installation services in the UK power distribution industry.
This M&A transaction comes at a time when the electrical power sector is undergoing a significant transformation as governments and corporations are challenged by green environmental legislation and new CO2 emission standards against a backdrop of a global increase in demand for electrical power and aging infrastructure.
OEP also own the SGB Smit Group of companies. The SGB Smit Group, previously owned by BC Partners, has been on the acquisition trail for some time and has substantially grown in critical mass and influence. Their primary focus in recent years had by enlarge been on transformers. Their expansionist strategies resulted in manufacturing and service operations not only in Europe but also Africa, the USA and Asia.
The transaction amounts remain undisclosed. At this point in time, it is not known if Brush and SGB -Smit will continue to operate independently or if these companies may be amalgamated to create a new first terrier player in the energy industry.
The combined product portfolio certainly makes this possible.
Author: Chris Gerber
*The opinions expressed in this article are those of the author and they do not necessarily reflect the opinions or views of the Transformers Magazine and Merit Media Int.