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AEA SBF Acquires Allied Power Group
New York – June 17, 2019– AEA Investors’ (“AEA” or the “Firm”) Small Business Fund (“AEA SBF”) announced today that its fund has closed the acquisition of Allied Power Group, LLC (“APG” or the “Company”). APG is an independent provider of aftermarket maintenance and repair solutions for heavy-frame industrial gas turbines (“IGT”), primarily serving the electric utility industry.
Based in Houston, Texas, APG was formed in 2005 through the merger of PowerSpares and Turbine Blade Repair Specialists, and is the leading independent provider of aftermarket in-shop and field services based maintenance and repair solutions for heavy-frame IGT . APG provides its customers with a comprehensive IGT maintenance solution, including turbine component and rotor repair, plant and field services, and new and refurbished replacement component sales. With a highly skilled and experienced workforce, proprietary engineering know-how and high-tech facility, APG is distinguished in the marketplace and optimally positioned to capitalize on several growth opportunities, including winning new customers, broadening its scope of equipment types and turbine technologies served, and expanding into new fuel types.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 80 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services. AEA SBF is a strategy within AEA that currently manages over $1.5 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.
About Allied Power Group
APG is the leading independent provider independent provider of aftermarket maintenance and repair solutions for heavy-frame IGTs, primarily serving the electric utility industry. APG’s fully-integrated offering includes engineered inspections and repairs, specialized coatings, precision manufacturing of replacement components, experienced field service professionals, multi-faceted rotor repair and an expansive inventory of refurbished parts. The APG leadership team is comprised of power generation industry veterans with expertise in engineering and access to the latest technology which allow it to provide its customers with innovative and flexible solutions.
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