BESSEMER, Ala.--(BUSINESS WIRE)--Power Grid Components (“PGC”), a Blackstone portfolio company, today announced the acquisition of Elliott Industries Inc. (“Elliott”), a company specializing in made-to-order electrical equipment for utilities, original equipment manufacturers (“OEMs”) and commercial and industrial (“C&I”) customers. This strategic acquisition will enhance PGC’s power distribution product portfolio, while ensuring the continuation of the Elliott brand and reputation.
Founded in 1952 by Ken Elliott and located in Bossier City, LA, Elliott has built a strong reputation for its high-quality, custom-engineered electrical equipment, whose products include power distribution products (e.g. pad-mounted switchgear, bus enclosures, metering stations) and molding component products (e.g. bushings, insulators). The company has been led in recent years by siblings Patricia Willcox and Ken Elliott III, who took over the business from their father.
“The Elliott family have built a trusted brand over several decades, developing a well-earned reputation for product quality, reliability, and customer service,” said Rick McClure, CEO and founder of Power Grid Components. “We are committed to preserving the Elliott brand while leveraging our resources to drive innovation and growth.”
“My brother Ken and I are thrilled for our company to join the PGC family,” said Patricia Willcox, President of Elliott Industries, Inc. “Over the years, we have developed a strong relationship with Rick and the PGC team. As we considered the future of Elliott, it became clear that PGC was the perfect partner, given their commitment to enhancing and investing in businesses while focusing on quality, reach, and customer service. We are confident that PGC will maintain our high standards and continue to deliver outstanding products and services to both our loyal customers and those we aim to attract in the future. I would also like to express our heartfelt gratitude to our dedicated employees, sales representatives, distributors, suppliers, and especially our customers for their unwavering support, trust, and loyalty to Elliott over the years. We are excited about the future and believe the company is in capable hands.” Patricia and Ken will stay on to help transition the company under new ownership for an extended period.
PGC’s acquisition of Elliott highlights the favorable market trends surrounding increased investment in the maintenance and modernization of electrical infrastructure in the United States. In recent years, Elliott has effectively capitalized on these trends, demonstrating strong growth driven by rising demand for its power distribution products.
CRI Capital Advisors acted as the financial advisor to Elliott Industries.
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 products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired seven businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality composite, porcelain and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, and power distribution products. Power Grid Components
About Elliott Industries: Elliott Industries, Inc. is a leading manufacturer of high-voltage electrical equipment, serving utilities, industrial and commercial customers, and original equipment manufacturers. They specialize in switchgears, bushings, insulators, and other critical components for power distribution and transmission systems. The company is committed to providing quality products and services to ensure reliable and efficient electrical operations. The company is headquartered in Bossier City, LA. Elliott Industries
