MacLean Power has received a majority equity investment from Centerbridge Partners
MacLean Power Systems
MacLean Power Systems (MPS) provides a comprehensive offering of engineered products, including pole line hardware, insulators, arrestors, connectors, anchors, cross-arms and other related products. Across MPS’ utility and communications end markets, the MacLean Power Systems brand has become synonymous with quality and reliability since the company’s founding in 1986. The company operates in the United States, Canada, South America, Asia and Europe with sales offices throughout the world. For more information, please visit www.macleanpower.com.
Lincoln International is pleased to announce that MacLean Power Systems, a subsidiary of MacLean-Fogg Holdings, LLC (MFC), has received a majority equity investment by funds advised by Centerbridge Partners, LP. MFC will continue to hold a minority ownership position in MPS following the transaction. Steve Scharnhorst will continue to serve as Chief Executive Officer of MacLean Power Systems.
Barry L. MacLean, Chairman of MFC, commented, “MPS’ management team has done an excellent job positioning the company for growth across multiple markets, and we are pleased to align ourselves with a strong capital partner whose culture and goals align with the MacLean family. The investment from Centerbridge will allow MFC to continue to invest in strategic products in our remaining business lines and expand its product offering to meet our customers’ needs more effectively.”
Steve Scharnhorst, President of MPS, added, “We are thrilled to have Centerbridge as our partner for our next phase of growth. I would like to thank Barry MacLean for his vision and support for MPS since MFC’s initial investment in MPS in 1986. I would also like to thank Lincoln International who was instrumental in assisting us to find a world-class partner in Centerbridge.”
Sean Bennis, Managing Director and co-head of Lincoln’s Industrial Group, commented “It’s been an absolute pleasure and privilege to work with the MacLean-Fogg and MPS management teams. MPS is a true market leader with a best-in-class product offering. Supported by robust utility and telecom industry tailwinds, the new partnership with Centerbridge uniquely positions MPS for accelerated future growth.”
Lincoln’s expertise of the energy, power and infrastructure sector paired with deep investor relationships helped drive dialogue with the best potential partners for MPS and ultimately provided us with numerous options to choose from. Lincoln acted as true advisors to MFC and MPS and managed a highly competitive process that drove an exceptional outcome for all parties.
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