Call 888-776-0942 from 8 a.m. to 10 p.m. Eastern Time
The successful divestiture and the company’s simultaneous acquisition of Aprenda reflect OEP’s core strategy of accelerating growth through transformational acquisitions
New York, June 21, 2021/PRNewswire/ - One Equity Partners ("OEP"), a mid-market private equity firm, today announced that it has completed the acquisition of BRUSH Group ("BRUSH" or "Company"), a leading independent Supplier of power generation and distribution equipment, services and solutions. The terms of the private transaction were not disclosed.
BRUSH was founded in 1889 and is headquartered in Ashby de la Zouch, England. It has a long and rich history, serving power generation, control and power distribution products, namely steam turbine generators, transformers and switchgear. The company's 1,200 employees also provide a wide range of services for these same product segments around the world. BRUSH's products are used in a wide range of end markets, including utility, industrial, maritime, railway, data center, and renewable applications.
When OEP acquired BRUSH, the power industry was undergoing a major transformation.
"BRUSH has a long history dating back to the 1880s and has a proven track record of market leadership, product innovation, and trustworthy customer service. OEP is pleased to work with BRUSH's industry-leading management team to open the next step in the BRUSH story. Chapter," said Ori Birnboim, managing director of OEP.
OEP's acquisition of BRUSH comes at a time when the power industry is undergoing a major transformation. The government and enterprises are striving to meet the growing power demand in the context of aging grid infrastructure.
"The world has chosen electricity as the source of power for the 21st century, and BRUSH is ready to benefit from these positive potential electrification trends. BRUSH supports its customers in upgrading aging grids, meeting peak and backup power demands, and providing rapid deployment of new products. Support. The changing needs of EV charging, data centers, rail transit, smart grids and renewable applications," said Steve Lunau, Managing Director of OEP.
In addition, BRUSH also acquired the highly regarded professional electrical engineering company Aprenda, which provides a wide range of advanced consulting, design and turnkey installation services to customers in the electrical distribution industry in the UK. The specific terms are not disclosed. The acquisition of Aprenda, a company headquartered in Cambridgeshire, UK, will provide BRUSH with a leading design engineering platform focused on UK power distribution network projects.
BRUSH CEO Chris Abbott said: "OEP has a proven track record in building market-leading industrial companies through organic and inorganic investment programs that drive operational performance, increase product capabilities, and expand geographic coverage. "We are very pleased to support OEP. We have completed the acquisition of Aprenda and are happy to be a partner as we continue to further develop the company. Together we look forward to opening a new and exciting growth chapter for BRUSH. "
OEP has a long history of investing and positioning industrial manufacturing operations in Europe and the United States to achieve sustained growth, including USCO, a leading supplier of after-sales and OEM parts for the global earth-moving machinery industry; Intren, a power service provider; and Walterscheid Powertrain Group, a company A global supplier of interconnected and intelligent power system solutions and complete service support for the world's leading non-highway and industrial equipment manufacturers.
Dechert LLP acted as legal counsel for the OEP transaction.
About One Equity Partners One Equity Partners ("OEP") is a mid-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The company builds a market-leading company by identifying and executing a transformative business portfolio. OEP is a trusted partner with a differentiated investment process, an extensive and experienced team, and a good track record of creating long-term value for its partners. Since 2001, the company has completed more than 300 transactions worldwide. OEP was established in 2001 and spun off from JPMorgan Chase in 2015. The company has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About BRUSH BRUSH has a long and rich history as an OEM service generation customer for power generation, control and distribution products. Although mainly known for providing industry-leading turbine generators and power management systems, BRUSH also designs and manufactures transformers and switchgear of the same high quality. BRUSH serves the global power generation and distribution market with a strong technical knowledge base to support grassroots projects, capacity expansion and direct replacement. For more information, please visit www.brush.eu/.
Press contact for One Equity Partners:
Kelly Holman Stanton 646-502-3509 [Email protection]
More news releases on similar topics
Cision Distribution 888-776-0942 8 a.m. to 9 p.m. Eastern Time