VRA Advises Prime Power Services on its Sale to Audax Private Equity-Backed Total PowerGen Solutions
VRA is pleased to announce that it served as the exclusive financial advisor to Prime Power Services, a premier critical power services platform in the Southeast, on its sale to Total PowerGen Solutions, a leading power generation solutions provider and a portfolio company of Audax Private Equity. VRA is a boutique investment bank providing M&A, capital raising and strategic advisory services to founder- and family-owned businesses and financial sponsors. Terms of the transaction were not disclosed.
Founded in 1983 in Atlanta, Georgia, Prime Power Services is a trusted leader in maintaining, repairing, upgrading and replacing complex backup power systems for mission-critical environments, from data centers and hospitals to manufacturing and commercial facilities. With over 40 years of operating history, Prime Power Services has built a strong reputation for innovation and integrity with an unwavering commitment to quality. Prime Power Services maintains a leading market position with a regional footprint across the Southeast and Mid-Atlantic.
"VRA's deep understanding of the critical power sector gave us confidence from the start," said Addie Mathes, Founder of Prime Power Services. "They knew how to tell our story to the right buyers and ran an exceptionally competitive process with a record number of offers, ensuring we fully explored the top partnership options before moving decisively to close. We believe the result was the best possible outcome for our team, customers and shareholders, and we're incredibly grateful for their partnership."
"Prime Power Services is a standout business in a market with few scaled, independent operators," said Collier McRae, Managing Director at VRA Partners. "The company's service-only business model, significant recurring and pull-through revenue and OEM-agnostic capabilities attracted strong interest from both strategic and financial buyers. We're proud of the outcome we achieved for the Prime Power Services team, and we are confident Total PowerGen Solutions will be an excellent strategic partner for Prime Power Services' continued growth."
Prime Power Servies
Prime Power
Services is a leading independent generator service provider in the Southeast.
Maintaining a full staff of engineers with a fleet of field service
technicians, Prime Power Services is capable of immediate and reliable support
across the spectrum of power generation needs. From turnkey power source
installations to temporary generator rentals, Prime Power is there at any hour
to keep the lights on. Learn more at www.primepower.com.
Total PowerGen Solutions
Total PowerGen Solutions is a North American provider of power generation solutions that has been in business since 1959. Operating across Canada and the United States, Total Power provides a full complement of maintenance and repair services, rentals and equipment sales for standby, mobile and prime power generator systems and other power quality and continuity equipment ranging from 10kW to 2,000kW and beyond. Learn more at www.tpgs.ca.