Pfingsten has sold Powervar to AMETEK
Lincoln International, a leading global mid-market investment bank, is pleased to announce that Powervar, Inc. (“Powervar”) has been sold to AMETEK, Inc. (“AMETEK”). Powervar was a portfolio company of Pfingsten Partners, L.L.C. (“Pfingsten”).
Headquartered in Waukegan, IL, Powervar is a leading provider of power management systems and uninterruptible power supply (“UPS”) systems. The company provides highly engineered and customized solutions designed to deliver reliable, high-quality power to critical applications. Powervar’s transformer-based power conditioners and UPS systems serve a variety of end markets including medical, life sciences, industrial, retail and telecommunications.
Powervar will become part of the AMETEK Electronic Instruments Group, a recognized leader in advanced monitoring, testing, calibrating and display instruments. “Powervar’s strong presence in medical and life sciences provides our power business with excellent new growth opportunities in these attractive segments. Its products are highly complementary to our existing power quality and UPS systems. In addition, Powervar provides world-class applications expertise, considerable new product development capabilities and best-in-class product quality,” said Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
“Powervar, through its partnership with Pfingsten, built a leading provider of custom power management solutions in North America and Europe. As part of the AMETEK Electronics Instruments Group, we look forward to new growth opportunities on a global basis and the ability to continue to provide our customers with valuable power management solutions,” added George Z. Lannert, Powervar President and CEO.
Lincoln International acted as the exclusive financial advisor to Powervar and Pfingsten, working closely with the management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
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