Investcorp, a leading global alternative investment firm, announced the sale of its investment in RESA Power (RESA), the Houston, US-based provider of power systems and life extension solutions for power distribution equipment, to Kohlberg.
This transaction marks the first exit for Investcorp’s North American Private Equity Fund I. The financial details of the deal, however, were not disclosed.
Investcorp said since its acquisition in 2021, RESA has grown revenues and EBITDA by over 4 times, and currently serves thousands of commercial and industrial, utility and data centre customers across North America.
During its ownership period, RESA also significantly accelerated organic growth and expanded capabilities across geographies and product categories through strategic M&A, Investcorp said.
Mohammed Alardhi, Executive Chairman of Investcorp, said: “Since we embarked upon our growth journey in 2015, the US has been our biggest growth avenue. Our expertise in private markets, demonstrated over four decades in the world’s largest economy, is evident once again.”
Alardhi said investment has consistently invested in attractive middle-market service businesses in the US, and “this outstanding result validates our investment strategy and the talent of our team.”
“We aim to replicate RESA’s success globally across our private equity business,” he said.
Scott Harrison, Chief Executive Officer, RESA Power, said the company was deeply grateful for its partnership with Investcorp.
“Together, we laid the foundation for sustainable growth by investing in our people and processes, transforming RESA into a stronger, more dynamic company.
“With Kohlberg’s deep industry expertise and track record of success, we are confident that we have found the ideal partner to help us unlock the next chapter of growth and continue our momentum,” he said.
Investcorp’s North America Private Equity group has been investing in mid-market businesses since 1982 and currently focuses on control buy-out investments in the business & professional services and commercial services sectors.
It has completed approximately 70 platform investments, deploying more than $23 billion in transaction value since inception.
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