Center Rock has recapitalized Power Services Group
Power Services Group
Power Services Group (PSG) is a leading independent provider of comprehensive maintenance, repair and overhaul (MRO) services for steam and gas turbines, serving the power generation industry. Headquartered in Cape Coral, Florida, PSG operates a strategically located network of facilities across the United States and India, offering a full suite of field services, repair services, parts manufacturing and engineering capabilities. PSG’s robust technical expertise and vertically integrated solutions enable it to deliver high-quality, turnkey services tailored to the unique needs of its diverse customer base, which includes utilities, independent power producers and industrial clients.
The Deal
Center Rock Capital Partners engaged Lincoln International as the exclusive investment banking representative to arrange committed debt capital in support of the recapitalization of PSG. The sponsor was interested in bringing on a new capital partner to support the company’s continued growth strategy and extend its investment horizon. Lincoln worked closely with PSG’s management team throughout the process to articulate the company’s comprehensive service offerings, growth trajectory and successful track record. This collaboration drove a highly competitive process and delivered an excellent outcome for all stakeholders.
Our Perspective
Brendan J. Murphy, Managing Director at Lincoln International who led the recapitalization efforts, commented, “Lincoln values its strategic partnership with Center Rock, and we were thrilled to deliver another great financing outcome for the firm. Our mission was to streamline the process, limit disruption during their critical business season and allow management to focus on driving growth in the business. We are pleased to have identified a financing partner to support PSG under Center Rock’s stewardship.”
Center Rock Capital Partners
Center Rock is a Midwest-based private equity firm focused on building leading industrial companies in the lower middle market. Center Rock seeks industrial manufacturing, industrial services and industrial distribution companies headquartered in North America, often with multi-national operations and locations that serve both domestic and global markets. With substantial expertise working constructively with management teams to drive both operational and strategic improvement, Center Rock’s investment professionals have the flexibility and tools to invest in a broad array of transactions and build value in lower middle market industrial companies.
The Lincoln team drove a highly competitive process that enabled us to achieve our core objectives of the financing. The deal team demonstrated commitment to excellence, driving an optimal outcome for PSG. We continue to rely on their capital markets expertise as a trusted advisor to the firm.
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