OpenGate Capital Portfolio Company, Power Partners, Inc., Names Mr. Koben Miceli as Chief Executive Officer

Tenured Operating Executive with More Than 20 Years of Experience Brings Global Operations Management Skills to Transformer Business

LOS ANGELES, CA and ATHENS, GA – October 2, 2017 – OpenGate Capital, a global private equity firm, announced today in a joint statement with its portfolio company, Power Partners, Inc. (“PPI”), a US-based manufacturer of distribution transformers, that PPI has appointed Mr. Koben Miceli as Chief Executive Officer, effective immediately.

Miceli is a results-oriented operating executive with a solid background in global operations management and a demonstrated track record in turnaround situations that have led to improved customer experiences and business growth.  Miceli was previously with Dematic Corporation as Executive Vice President of Global Operations and had been promoted from the positions of Senior Vice President of Global Procurement and Vice President of Operational Excellence and Strategy. Prior to Dematic, Miceli has held senior operations positions with Nexeo Solutions as Director of Supply Chain Management, Catalent Pharma Solutions as General Manager, and Honeywell Corporate and Aerospace with the most recent title of Senior Director, Manufacturing Globalization Strategy.

“We are excited to have Koben join PPI as our new CEO,” said Desmond Nugent, Principal at OpenGate Capital responsible for the operations of the firm’s North American investments.  “Koben’s track record of energizing teams, driving operational effectiveness and creating value makes him an ideal fit. We are confident he will infuse focus, enthusiasm and innovation at PPI.”

“PPI has a well-established platform to build upon and grow,” said Miceli. “I am thrilled to join the team and work to strengthen PPI’s product and services while maintaining our position as a leader in bringing the highest quality distribution transformers to our customers in all of our many communities.”

PPI is based in Athens, Georgia and manufactures overhead, round tank, and submersible distribution transformers to customers in the US, Mexico and in the Caribbean. Founded in 1958, Power Partners has produced over 8.9 million transformers and is a highly regarded name in the transformer industry.

OpenGate Capital acquired PPI in 2016 through the firm’s first institutional fund, which also holds Hufcor, EverZinc, Alfatherm, Bois & Matériaux, and Energi Fenestration Solutions in its global investment portfolio.

About OpenGate Capital

OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California and has a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate and build successful businesses. To date, OpenGate Capital has executed more than 40 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments. For more information, please visit www.opengatecapital.com.

About Power Partners

Power Partners, Inc. is a leading manufacturer of overhead distribution transformers, serving utility, industrial and commercial customers in North America, Central America, Mexico, the Caribbean and other markets. More than 8.9 million transformers have been produced at the company’s manufacturing facility in Athens, GA, over its 50-year history. Power Partners offers the shortest manufacturing cycles in the industry and has a stellar track record of responding to storms with great speed. The company is ISO 14001: 2004 certified. For more information, please visit www.powerpartners-usa.com.