Investment Improves Safety, Quality, Manufacturing, Flexibility and Capacity
LOS ANGELES, CA and ATHENS, GA – June 27, 2016 – 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 completed phase one of a multi-phase investment in state-of-the-art production lines.
The newly completed high volume production line will be fully functioning at the start of July, with two additional lines scheduled to be complete by the end of this year. The new production lines will result in safety and quality improvements as well as enhanced manufacturing and flexibility, and upon completion will increase capacity at PPI by more than 45%.
Andrew Nikou, CEO and Managing Partner at OpenGate Capital stated, “OpenGate Capital has been committed to investing in PPI in order to drive operational improvements, accelerate production innovation and allow the company to better serve its customers. The completion of this new production line is a tremendous milestone in the company’s multi-phase operational improvement plan.”
PPI Chief Executive Officer, Jack Roberts commented, “Our new production line builds on already installed, new quality and testing systems and reinforces PPI’s commitment to better serving its customers and the distribution transformer market. The new production lines will increase our production capacity, drive efficiencies and allow the company to handle significant spikes in demand from weather-related or other natural disasters.”
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.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate Capital, through its legacy and fund investments, has executed more than 30 acquisitions including corporate carve-outs, management buy-outs, special situations and transactions with private sellers across North America and Europe. To learn more about OpenGate, 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.
For more information, please contact:
OpenGate Media Contacts
Telephone: +1 (310) 432-7000
Sitrick & Company
Telephone: (310) 788-2850
OpenGate Business Development Contact
Telephone: +1 (310) 432-7000
Power Partners Contact
Telephone: +1 (706) 548-3121 Ext 400