BESSEMER, Ala.--(BUSINESS WIRE)--Power Grid Components (“PGC”), a Blackstone portfolio company, today announced that it has acquired Vizimax Inc., a leading provider of innovative solutions to measure, control and switch high- and medium-voltage electric power systems. Vizimax’s cutting-edge controlled switching device is the market-leading solution for managing and optimizing inrush currents, thereby extending the useful life of critical electrical equipment, including power transformers and circuit breakers. Headquartered in Longueuil, Quebec, Vizimax is led by President Jean-Guy Lacombe and was previously owned by a group of investors led by BDC Capital and Yaletown Ventures.
"At PGC, we seek partners who share our values and commitment to delivering innovative solutions to build, maintain, and protect the electrical grid,” said Rick McClure, founder and CEO of Power Grid Components. “By adding Vizimax to our portfolio of companies, we gain exceptional talent, including an experienced leadership team led by Jean-Guy, and a product that offers unparalleled protection for critical power devices utilized in electrical systems around the world. We look forward to helping Jean-Guy and his team accelerate the growth of Vizimax, particularly here in the United States.”
The acquisition of Vizimax will expand PGC’s footprint both in North America and internationally, as Vizimax sells into diverse markets around the world. The integration of Vizimax’s specialized offering into PGC’s portfolio will enhance Vizimax's capability to deliver solutions that bolster the electrical grid's reliability, safety, and security, aligning seamlessly with PGCs core mission.
“We, at Vizimax, are very excited to join the Power Grid Components family,” said Jean-Guy Lacombe, President of Vizimax. “This transaction represents a key step towards strengthening Vizimax’s capabilities in our goal to help ensure grid reliability around the world. We view PGC as the perfect partner to help us continue to provide best-in-class service to our existing customers and further expand our presence in the U.S. market, given PGC’s deep bench of experienced professionals and long-standing relationships with utilities, original equipment manufacturers, and renewable energy developers.”
Nomura Greentech acted as financial advisor to Power Grid Components on the transaction.
About Power Grid Components: Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply highly-engineered, quality products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired six businesses. Through our brands Royal, Newell, Meister, ITEC, Allied Bolt, and Vizimax, PGC offers high voltage disconnect switchgear, porcelain and glass insulators, instrument transformers, outside plant hardware, and controlled switching devices. Power Grid Components
About Blackstone Energy Transition Partners: Blackstone Energy Transition Partners is Blackstone's energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $22 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we work to build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Blackstone Energy Transition Partners
About Vizimax: Vizimax Inc, originally founded in 1988, is a leader in developing innovative and comprehensive solutions to address key challenges related to electrical grid switching, measuring, and controlling. The renowned Vizimax SynchroTeq product allows for switching at the optimal instant of the current wave form, designed to eliminate stress and damage on power devices. Vizimax
