Golden Gate Capital has sold DMC Power to Hubbell

DMC Power

DMC Power designs and manufactures the highest-quality connection systems for high-voltage power infrastructure, including transmission, distribution, substation and industrial projects. The company’s Swage System, comprised of custom-designed power connectors and a patented 360° radial swage tool, has helped utilities around the world finish their projects with just the push of a button. The company has more than 350 employees and two manufacturing facilities in Carson, California, and Olive Branch, Mississippi, along with multiple distribution facilities located across North America. DMC Power’s attractive growth and margin profile is aligned with megatrends in load growth, data center interconnection and aging infrastructure. The company anticipates 2026 revenue of approximately $130 million and EBITDA of approximately $60 million.

The Deal

In partnership with Golden Gate Capital, DMC Power has experienced rapid organic growth, reflecting the company’s investments in expanded facilities and new machines, the development of innovative new products and expansion into new market segments. Golden Gate and DMC Power entrusted Lincoln given its experience in the energy, power & infrastructure market and the depth of its buyer relationships. The all-cash transaction is valued at approximately $825 million.

Our Perspective

Sean Bennis and Andrew Moen, Lincoln International Managing Directors, commented, “DMC Power stands out as an innovative leader in connection systems, and the company’s recent performance has been outstanding. We have truly enjoyed partnering with Golden Gate Capital and the DMC Power team.”

Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity firm focused on partnering with management teams to build exceptional consumer, industrials, technology and financial services companies. Since its founding in 2000, the firm has managed approximately $20 billion in cumulative committed capital. For more information, visit http://www.goldengatecap.com.

Hubbell Incorporated

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2024 revenues of $5.6 billion, Hubbell’s solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.

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