Financial Advisor
Instrument Transformer Equipment Corporation
M&A Advisory
A Portfolio Company Of
Has Been Acquired By
A Portfolio Company Of
Transaction Details
- On April 13, 2018, Power Grid Components, Inc. (“Power Grid”), a company formed by Shorehill Capital LLC (“Shorehill”), announced the completion of the acquisition of Instrument Transformer Equipment Corporation (“ITEC”), a division of North American Transmission and Distribution Group (“NATDG”)
- NATDG is an affiliated portfolio company of Falfurrias Capital Partners
- Terms of the transaction were not disclosed
- Stephens Inc. served as exclusive financial advisor to NATDG
About the company
Instrument Transformer Equipment Corporation
ITEC is a manufacturer of dry molded and oil-filled instrument transformers based in Monroe, North Carolina. The company’s products are used in several critical applications, including revenue metering, protective relaying and station power. Notably, ITEC has a strong reputation for technical expertise and a niche product offering with voltages ranging from 600V to 230kV.
Power Grid Components, Inc.
Power Grid Components, Inc. was formed by electric grid products industry veteran Rick McClure and Shorehill Capital LLC to acquire companies that manufacture and supply products used in the North American electric power grid. Currently, the company is a supplier of high quality porcelain and glass insulators, as well as instrument transformers for revenue metering and protective relaying to electric utilities, original equipment manufacturers and other customers who support the grid.
Sources: Company press release
-
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.