Bertram Capital has sold Power Holdings to Smiths Group

Lincoln International LLC (“Lincoln”), a leading independent mid-market investment bank, has announced that Power Holdings, Inc. (“PDI”) is being acquired by Smiths Interconnect, a division of Smiths Group plc (LSE: SMIN) for $235 million. PDI is a portfolio company of Bertram Capital, a private equity firm based in San Mateo, California. The transaction remains subject to regulatory approvals and customary closing conditions.

Based in Richmond, Virginia, PDI is the parent company for Power Distribution, Inc., Marelco Power Systems, Inc. and Onyx Power, Inc. Together with its subsidiaries, PDI is a leading designer and manufacturer of power distribution, conditioning and monitoring systems. The company’s product line is used mainly in datacenter and alternative energy applications and includes power distribution units, static transfer switches, remote power panels, power conditioning units, medium and low voltage transformers and patented power monitors. PDI, which also has facilities in Santa Ana, California and Howell, Michigan is expected to generate sales of approximately $156 million this calendar year. Smiths Group is a global technology company offering products and services for the threat and contraband detection, energy, medical devices, and communications markets worldwide. The Interconnect division’s strategy is to build its core technology groups: microwave, connectors and power management. The acquisition of PDI transforms Interconnect’s existing power protection group with a new range of products and growth opportunities.

Lincoln acted as the exclusive financial advisor to PDI and Bertram Capital, working closely with the company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.

About Bertram Capital

Bertram Capital is a private equity investment firm with more than $850 million in capital under management. Founded in 2006, Bertram Capital’s mission is to build value for equity holders, employees, customers, and partners by helping already profitable companies realize their full potential. View www.bertramcapital.com for more information.

Bertram Capital PDI Smiths 2011
  • 2011
    Close Year
  • Energy, Power & Infrastructure | Industrials
    Industry
  • Private Equity
    Client Type
  • Strategic | Cross-border
    Transaction Type
  • USA | United Kingdom
    Countries

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