Electrical Solutions Leader Continues Expansion into New
Markets
SOLOMON,
Kan., Aug. 1, 2024 /CNW/ -- Sunbelt Solomon
Services ("Sunbelt Solomon"), a leading provider of customized
electrical power solutions and services, today announced the
acquisition of Maxima Power Group ("Maxima" or "the Company").
Comprised of Magna IV Engineering Inc., Power Solutions Group LLC.
and Industrial Tests Inc., Maxima is a NETA accredited electrical
engineering, automation solutions, and technical field services
provider. The combined entity will address a pivotal segment of the
electrical power distribution equipment and services market, adding
critical mass to Sunbelt Solomon's existing strong portfolio of
full lifecycle management solutions.
Sunbelt Solomon Announces Acquisition of
Maxima Power Group
Founded in 1982, Maxima Power Group employs a 370-person team
spanning almost 20 locations across the
United States, Canada and
Chile. Following the acquisition,
Maxima Power Group will continue to operate under its existing
brands. Kelly Butz, who currently
serves as the Company's Chief Executive Officer, will continue to
lead the business and take on additional responsibility as
President of Sunbelt Solomon's combined field services portfolio of
brands. The union of these companies will double Sunbelt Solomon's
existing capabilities and expand its footprint, enabling it to
serve customers from 35 locations globally.
"We are thrilled to add Maxima Power Group's team and
capabilities to Sunbelt Solomon. Given the breadth, scale, and
enhanced scope of services in critical power infrastructure, the
unified team will be able to offer our customers a unique
experience in the industry. Overnight, our combined field services
capabilities double in the United
States, while in Canada the
complementary nature of our existing temporary power and rental
services blended with our strong field services presence
establishes an unparalleled product offering, while creating a
foundation to deploy the complete portfolio of repaired and
reconditioned power distribution equipment across Maxima's service
lines. Broadening Sunbelt Solomon's presence in the Americas via
Maxima's operation in Chile also
provides a superb expansion path for our products and services
beyond our traditional North American market."
– Gus Cedeño, CEO Sunbelt Solomon
"What excites me most about joining forces with Sunbelt Solomon
is the opportunity to work with a team that, right from the moment
I first met them, felt there was cultural alignment, and it was
clear how Maxima could help Sunbelt Solomon maintain and expand its
leadership position in the market. To help Sunbelt Solomon in their
quest to provide full lifecycle services on a wide range of
equipment aligns exactly with Maxima's Vision of being the World's
Most Trusted Power, Energy, and Automation Solutions Provider. We
look forward to our future together and the many opportunities to
come for the business and its employees, as we write the next
chapter in our over 40-year history."
– Kelly Butz, CEO
Maxima Power Group
"Maxima Power is an important
partnership for Sunbelt Solomon. We believe the two businesses'
combined field services scale, coupled with the broader set of
Sunbelt Solomon electrical equipment service lines, will provide
increased value to customers and employees and accelerate the
growth paths of the two businesses. We are excited to have Kelly
and team join the Sunbelt Solomon family and look forward to a
successful partnership."
– Charles
Fleischmann, Head of Business Services, Trilantic North
America
"We are determined to continue capitalizing on opportunities to
expand Sunbelt Solomon's growing portfolio of services and
locations," Cedeño said. "We remain excited about the market's
demand for our capabilities and the next phase of growth for the
combined organization."
Harris Williams acted as
financial advisor and Perkins Coie LLP acted as legal advisor to
Maxima Power Group. Gibson, Dunn & Crutcher LLP provided legal
advice to Sunbelt Solomon.
Terms of the transaction were not disclosed.
About Maxima Power Group
Maxima Power Group is a
global provider of power and automation services specializing in
large power electrical maintenance. By leveraging NETA accredited
field services personnel focused on repair and engineering, Maxima
powers communities and critical infrastructure across the globe.
Maxima specializes in the field of electrical safety and
reliability by providing turn-key arc flash mitigation systems
throughout Canada, the United States, Chile.
About Sunbelt Solomon
With over 100 years of
experience, Sunbelt Solomon is widely recognized as a
sustainability leader in the electrical segment for its technical
expertise, speed of service and standard of care within commercial,
industrial, and utility markets. The company provides rental,
repair, and field services to complement the supply of
remanufactured and new electrical power and distribution equipment,
including transformers and switchgear from its 18 locations across
North America. Sunbelt
Solomon boasts unparalleled scale,
breadth of services, and a consistent track record of dependability
among cooperative, investor-owned, and municipal utility customers,
plus a diverse presence across many renewable energy, oil and gas,
commercial and industrial verticals. More information is available
on the company's website, sunbeltsolomon.com.
About Trilantic North America
Trilantic Capital
Management L.P. ("Trilantic North America") is a growth-focused
middle market private equity firm focused on control and
significant minority investments in North
America. Trilantic North America's primary investment focus
is in the business services and consumer sectors. Trilantic North
America has managed or is currently managing seven private equity
fund families with aggregate capital commitments of $11.0 billion. For more information, visit
www.trilanticnorthamerica.com.
Contact
Prosek Partners
Pro-trilantic@prosek.com
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SOURCE Sunbelt Solomon