DECEMBER 5, 2023
New York, December 5, 2023 – Today, Blackstone (NYSE: BX) announced that private equity funds affiliated with Blackstone have closed the acquisition of Power Grid Components, Inc. (“PGC”) from Shorehill Capital LLC.
PGC is a leading domestic designer and manufacturer of a wide range of critical components for protection, monitoring, and safety applications in electrical substations, an essential segment of the electrical grid responsible for managing and monitoring power flows and converting electricity into different voltages. As a supplier of critical components to the grid and partner to many of the nation’s largest electrical utilities, PGC advances the global energy transition by improving the reliability, capacity, and safety of the grid, by enabling the deployment of new renewable generation, and by supporting broad electrification trends. PGC was founded in 2017 by CEO Rick McClure and Shorehill Capital LLC. Mr. McClure and the other senior leaders will remain with the business in their current positions following the transaction. See Full Press Release...
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DECEMBER 20, 2022
Power Grid Components, Inc. (“Power Grid”) announced today that it completed the acquisition of Meister International (“Meister”). The transaction closed in November 2022 and represents Power Grid’s fifth acquisition. Power Grid is a supplier of high-quality products used to build, maintain and upgrade the North American electric power grid. The Company was formed in 2017 by Shorehill Capital LLC (“Shorehill”) and Rick McClure, an electric power grid industry veteran.
Meister is a distributor of high and medium voltage porcelain and polyester insulators, bushings, bus and standoff pass throughs and related utility hardware. Meister’s products are critical for regulating electricity within broader electric systems and are used by a variety of customers including original equipment manufacturers, packagers and utilities throughout the US. The Company was founded in 2003 and is based in Amelia, OH. See Full Press Release...
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MARCH 18, 2019
CINCINNATI, OHIO – CSR Group announced it has acquired Meister International, an industrial manufacturer and supplier of switchgear components and pole line hardware. The purchase helps to facilitate CSR Group’s strategies to continue the development of insulators and hardware across multiple compounds and materials, while aggressively expanding its sales into new markets.
“The acquisition of Meister International has created opportunities to further develop synergistic relationships and cultivate the development of new products in both existing and new markets. Some of our new products include cycloaliphatic epoxy insulators and bus bar supports as well as pole line hardware. We are pleased to be able to further support our existing customers by offering a complete product line directly relevant to the needs of their businesses,” said Greg Smith, Vice President of Business Development for Meister International. “The acquisition fundamentally supports our long-term growth initiatives.”
About Meister International
Meister International is a proud member of the National Association of Electrical Distributors and has over 35 years of international industrial business experience. Since 2003, Meister International has been distributing the finest quality porcelain insulators and porcelain bushings to Original Equipment Manufacturers (OEMs) and users of switchgear, transformers and bus-duct around the world.
Utilities, industrial manufacturers, refineries, steel mills, and paper mills are just a few of the market segments that rely on Meister International switchgear and pole line hardware needs.
For additional information contact Greg Smith, VP Business Development at (513) 923-2712 or via email at greg@meisterintl.com
