Sunbelt Transformer (www.sunbeltusa.com) based in Sharon, Pennsylvania, is a leading provider of new and remanufactured electrical power and distribution equipment (transformers, switchgear, circuit breakers, etc.) and related repair and field services. Operating from nine locations across the United States, Sunbelt is recognized as the leading national brand in providing rapid, customized electrical equipment solutions for commercial and industrial customers. Since 1981, Sunbelt has invested in developing a talented group of employees, building a comprehensive managed inventory of new and used equipment, and developing a state-of-the-art technology backbone to deliver superior service and associated logistics.
Grey Mountain Partners (www.greymountain.com) is a Boulder, Colorado-based private equity firm focused on partnering with management to create lasting value through operational improvements and by supporting strategic growth initiatives. Grey Mountain invests at the lower end of the middle-market in companies across a wide range of industries and manages approximately $700 million of assets.
Sunbelt Transformer, Ltd. (“Sunbelt” or “the Company”) announced that it has been acquired by Grey Mountain Partners (“Grey Mountain”). This transaction is the successful culmination of an initiative led by Bigelow LLC on behalf of Sunbelt to proactively seek out the best new majority shareholder for the Company.
“The Sunbelt family has been committed to providing the highest levels of integrity, value, and outcome to its customers, suppliers, and employees. In searching for a new majority investor we placed great emphasis on selecting an investor who would support our culture and bring incremental resources and capabilities to Sunbelt. We couldn’t be happier with Grey Mountain and their support of Dan Sweeney as Chief Executive Officer leading the Company in its next exciting chapter of growth.” James Landino, Former Majority Shareholder Sunbelt Transformer Ltd
“We have never been better positioned to serve our customers, and with the support of Grey Mountain we are accelerating our capabilities and solutions while maintaining our customer value proposition of speed, customization, and ease of doing business,” stated Dan Sweeney, Chief Executive Officer of Sunbelt.
“We have never been better positioned to serve our customers, and with the support of Grey Mountain we are accelerating our capabilities and solutions while maintaining our customer value proposition of speed, customization, and ease of doing business” Dan Sweeney, Chief Executive Officer Sunbelt Transformer Ltd
Ben Ault, Managing Director at Grey Mountain, said, “We thank Jim Landino for his terrific stewardship and leadership transition and are thrilled to partner with Dan and his team as they execute an exciting growth plan and use their unique set of competencies for buying, remanufacturing, selling, and renting transformers and related electrical equipment to serve their customers.”