Instrument Transformer Equipment Corporation | Stephens

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Financial Advisor

Instrument Transformer Equipment Corporation

Value Not Disclosed 04/13/2018 Power & Industrial Technology Complete
Lead Bankers: Ross Rucker, Bryan Scanlon
Financial Sponsors
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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
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