Amanda Hassall, Six Degrees Ltd
T: +44 (0)1628 480280/+44 (0)7855 359889
Private equity firm Pfingsten Partners, LLC has announced that its portfolio company, POWERVAR Holdings, LLC ("POWERVAR") - www.powervar.com - has acquired the stock of Oneac Corporation ("Oneac"), a business of Emerson. Oneac is a designer and manufacturer of power quality products that provide the highest level of power conditioning and protection against line disturbances and outages.
"The combination of Oneac and POWERVAR will allow us to leverage our strengths in the core markets we serve and provide for expansion opportunities into the telecom and connectivity markets," said George Lannert, President and CEO of POWERVAR. "We continually strive to be a leader in developing power quality solutions that maximise system reliability and productivity for mission critical end use applications. The combined companies will now offer a more comprehensive solution to the niche power quality market and will allow us to better serve our customers."
"The addition of Oneac expands capabilities for both companies on a global scale," said John Underwood, Senior Managing Director at Pfingsten Partners. "Oneac and POWERVAR unite two industry leaders to capitalise on the high growth potential we see in the niche power quality market. We are excited about the future of the company and how it will better serve this dynamic market."
POWERVAR is a global manufacturer and distributor of branded and private label electrical power conditioning equipment for the medical, retail point-of-sale, industrial and other markets. Products include transformer-based isolated power conditioners and uninterruptible power supplies that resolve power quality problems within mission critical electronic equipment.
The transaction closed on September 9, 2011. No financial terms were disclosed. To learn more about POWERVAR and Oneac, visit www.powervar.com and www.oneac.com.
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