MacLean Power Systems (“MPS” or “MacLean Power”) and Power Grid Components (“PGC”), two leading manufacturers of engineered components and solutions for electrical transmission, distribution, substation and communication infrastructure, today announced the closing of their previously announced merger. Funds affiliated with Blackstone Energy Transition Partners and Blackstone’s flagship private equity strategy (“Blackstone”) have become the majority owner of the combined company.

Steve Scharnhorst to Serve as CEO; Mike Plaster Named President

MacLean Power Systems (“MPS” or “MacLean Power”) and Power Grid Components (“PGC”), two leading manufacturers of engineered components and solutions for electrical transmission, distribution, substation and communication infrastructure, today announced the closing of their previously announced merger. Funds affiliated with Blackstone Energy Transition Partners and Blackstone’s flagship private equity strategy (“Blackstone”) have become the majority owner of the combined company. In connection with the transaction, an affiliate of Centerbridge Partners (“Centerbridge”), will be making a new investment into the combined company. The platform – one of the largest suppliers of highly-engineered utility equipment in North America – will move forward as one entity
under the MacLean Power Systems name. Following the transaction, PGC’s portfolio of products, including Allied Bolt, Elliott, ITEC, Meister, Mid-Central, Newell, Royal Switchgear and Vizimax, will become part of the MacLean Power Systems family.

Alongside the completed merger, MPS is pleased to announce leadership updates as it moves into its next phase of growth. Steve Scharnhorst, current CEO of MacLean Power Systems, will lead the combined company. Mike Plaster will transition from CEO of Power Grid Components to President of MacLean Power Systems, leading all commercial and operational activities across the platform.

Steve Scharnhorst, CEO of MacLean Power Systems, said: “Today is an exciting milestone for MPS and our customers. Bringing together these highly complementary businesses strengthens MPS’ ability to support the construction, maintenance, repair and upgrade of critical grid infrastructure through a comprehensive portfolio of high- quality, customer-driven engineered solutions. We look forward to Leading the Way™ to a more resilient grid together as an industry-leading platform.”

Mike Plaster, President of MacLean Power Systems, added: “MacLean Power is a premier brand in our industry, built on decades of providing reliable, high-quality, essential components for the power grid and adjacent industries. I’m excited to partner closely with Steve and our combined teams as we expand our portfolio and capabilities to continue to best serve our customers across all segments of the electrical grid.”

JP Munfa, Senior Managing Director, and Mark Zhu, Managing Director, at Blackstone, said: “MacLean Power plays a vital role in supporting the safety, efficiency, and resiliency of the grid. We are thrilled to partner with Steve, Mike, and the entire team to work on building an even stronger, scaled platform that is well positioned to support rapidly growing electrical infrastructure needs.”

Conor Tochilin, Senior Managing Director at Centerbridge, said: “We congratulate Steve and the entire MPS team on their outstanding success to date. Centerbridge is excited to reinvest in the combined MacLean Power platform, building on the strong foundation we’ve established together and backed by a proven management team. We look forward to partnering with Blackstone to support the combined company’s next stage of growth as it accelerates its momentum and continues to benefit from powerful secular tailwinds.”

Terms of the transaction were not disclosed.

About MacLean Power Systems

MacLean Power Systems is a leading manufacturer of engineered products and solutions used in the maintenance, repair, upgrade, and construction of transmission, distribution, and substation infrastructure. Leading the Way™ in innovation and delivery, MPS is dedicated to keeping the power infrastructure performing optimally by supplying world-class solutions to fulfill the needs of customers who maintain electrical services to consumers worldwide. Learn more at macleanpower.com.

About Power Grid Components

PGC powers the evolving grid with reliable, responsive solutions. As a leading domestic supplier of critical grid equipment, we fortify its capacity, resilience, and safety. And through tailored solutions and partnerships with utilities, OEMs, packagers, distributors, and end users, we keep America’s power flowing. Learn more at pgc.com.

About Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s strategy for control-oriented equity investments in energy-related businesses, with a successful long-term record, having committed over $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the growing needs of the global community. In the process, we work to build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at blackstone.com/our-businesses/blackstone-energy-transition-partners.

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Centerbridge Partners

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines―Private Equity, Private Credit, and Real Estate―in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and, as of December 31, 2025, has approximately $45 billion in assets under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com and LinkedIn.

Media Contacts:

MacLean Power Systems
Gustavo Alvarado
GAlvarado@macleanpower.com

Power Grid Components
Elisabeth Law
Elisabeth.Law@pgc.com

Blackstone
Hallie Dewey
Hallie.Dewey@Blackstone.com

Jennifer Heath
Jennifer.Heath@Blackstone.com

Power Grid Components (PGC), a leading domestic supplier of components for the electrical grid, is pleased to announce that its Chief Executive Officer, Michael Plaster, has been appointed to the Board of Directors of the National Electrical Manufacturers Association (NEMA), effective November 6, 2025. NEMA serves as the voice of the electrical manufacturing industry, advocating for policies and standards that enable safe, efficient, and sustainable energy solutions.

Appointment underscores PGC’s commitment to advancing standards and advocacy for a safe, reliable, and flexible electrical grid.

Power Grid Components (PGC), a leading domestic supplier of components for the electrical grid, is pleased to announce that its Chief Executive Officer, Michael Plaster, has been appointed to the Board of Directors of the National Electrical Manufacturers Association (NEMA), effective November 6, 2025. NEMA serves as the voice of the electrical manufacturing industry, advocating for policies and standards that enable safe, efficient, and sustainable energy solutions. Michael’s appointment reflects PGC’s dedication to shaping industry policy and standards that support the evolving electroindustry and reinforces PGC’s role in delivering responsive solutions to an electrical grid experiencing historic load growth.

“NEMA is pleased to welcome Michael back to the Board of Directors, where his leadership in advancing electroindustry policy priorities and technical standards has been measurable,” said NEMA President and CEO Debra Phillips. “Michael’s expertise developed over more than four decades in the electroindustry is invaluable in NEMA’s ongoing efforts to deliver the 21st-century electrical ecosystem.”

“I am looking forward to continuing to be active with NEMA as a Board Member advocating for the electroindustry and representing Power Grid Components,” said Michael Plaster. “NEMA advocates for safe, reliable electricity, supporting society to ensure electricity is there when you need it. I am excited to represent PGC on the Board to ensure policy and standards align with PGC’s priorities and support electrification growth across the U.S.”

Michael brings nearly four decades of leadership experience in electrical equipment and solutions companies. Prior to joining PGC as CEO in August 2025, he spent 20 years at ABB, where he served as Executive Vice President and Lead Business Manager for Electrification. His previous service on NEMA’s Board of Directors and Executive Committee underscores his deep industry engagement and commitment to advancing the electroindustry.

Electrification is top of mind in the U.S., with historic load growth forecasted over the next several years. PGC’s products and solutions play a critical role in ensuring the grid can keep pace with this growth, delivering safe, reliable electricity to communities and businesses.

Power Grid Components

Power Grid Components was formed in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired eight businesses. Today, PGC is a supplier of high-voltage disconnect switchgear; high-quality porcelain, composite, and glass insulators; instrument transformers; outside plant hardware; controlled switching devices; power distribution products; and fixed-load transformers.

For press inquiries, please contact:

Power Grid Components, a Blackstone Portfolio Company
PGC Media Contact: Elisabeth Law
elisabeth.law@pgc.com

Power Grid Components (“PGC”), a Blackstone portfolio company and a leading supplier of critical components for the utility and telecom markets, today announced the opening of its new, 250,000-square-foot distribution center in Locust Grove, Georgia. Strategically located southeast of Atlanta, this modern facility will significantly enhance PGC’s North American supply chain operations, bolstering its commitment to best-in-class logistics and customer service.

Power Grid Components (“PGC”), a Blackstone portfolio company and a leading supplier of critical components for the utility and telecom markets, today announced the opening of its new, 250,000-square-foot distribution center in Locust Grove, Georgia. Strategically located southeast of Atlanta, this modern facility will significantly enhance PGC’s North American supply chain operations, bolstering its commitment to best-in-class logistics and customer service.

The new distribution center will serve as a central hub for warehousing and logistics services for PGC’s key subsidiaries. This consolidation of distribution capabilities unifies planning and execution, enabling faster shipments and reducing lead times for critical components essential to America’s electrical grid and telecommunications infrastructure.

Designed for maximum efficiency and scalability, the facility features 38 cross-dock doors for quick turnarounds and a dedicated warehouse team focused on accurate and swift order fulfillment. Furthermore, it boasts a full modern lab equipped for mechanical and electrical testing, helping ensure all products meet the highest quality and reliability standards. The center also includes a new product showcase area to highlight PGC’s latest innovations and engineering achievements.

This investment is a crucial component of PGC’s broader, multi-year program designed to strengthen its global supply chain. The initiative focuses on enhancing resilience and agility, delivering productivity gains, and optimizing operations to support the company’s expanding customer base and strategic growth objectives.

“The past few years have been transformative for our business, as we’ve invested significantly in optimizing logistics services for components critical to our electrical grid,” said Rob Johnson, Chief Operating Officer of PGC. “Our focus on developing strategic solutions underscores our commitment to stakeholders and the industry, as we aim to be the most comprehensive partner in enabling a reliable and robust electrical infrastructure for North America.”

Chris Faust, Chief Commercial Officer of PGC, added, “The increased reach and improved logistics provided by this new warehouse are pivotal to delivering on PGC’s promise of superior customer experience. This investment directly translates to faster, more efficient service for our partners, ensuring they have reliable access to the essential components that power our communities. We are incredibly excited about how this will strengthen our ability to meet and exceed our customers’ expectations.”

This strategic expansion underscores PGC’s leadership in the utility and telecom component sectors and its proactive approach to strengthening the national infrastructure. By optimizing its logistics network, PGC is not only enhancing its operational capabilities but also reinforcing its vital role in ensuring the continuous and reliable supply of power and communication across North America, supporting economic growth and community well-being.

About Power Grid Components

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired eight businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality porcelain, composite, and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, power distribution products, and fixed-load transformers.

Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $24 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at blackstone.com/our businesses/blackstone-energy-transition-partners.

For press inquiries, please contact:

Elisabeth Law
elisabeth.law@pgc.com

Power Grid Components (“PGC”), a leading domestic supplier of a wide range of components for the electrical grid, is pleased to announce that Michael Plaster, an industry veteran bringing nearly four decades of leadership experience in electrical equipment and solutions companies, will be joining PGC as its Chief Executive Officer, effective August 18, 2025. Michael will succeed Rick McClure, who will transition to Chairman of the Board. This planned succession, in combination with Mike’s deep industry knowledge and network, will lead the company through its next chapter of growth.

Distinguished industry veteran with a sustained track record of growth and building customer partnerships to lead PGC’s next chapter

Rick McClure to assume role of Chairman of PGC’s Board of Directors

Power Grid Components (PGC), a leading domestic supplier of a wide range of components for the electrical grid, is pleased to announce that Michael Plaster, an industry veteran bringing nearly four decades of leadership experience in electrical equipment and solutions companies, will be joining PGC as its Chief Executive Officer, effective August 18, 2025. Michael will succeed Rick McClure, who will transition to Chairman of the Board. This planned succession, in combination with Mike’s deep industry knowledge and network, will lead the company through its next chapter of growth.

Michael Plaster joins PGC from ABB, a global technology leader in electrification and automation, where he spent 20 years and most recently served as Executive Vice President and Lead Business Manager for Electrification. Since May 2020, Michael has both led ABB’s U.S. Electrification commercial organization and held P&L responsibility for ABB’s North American Distribution Solutions business line, driving significant growth. His leadership of a 3,000-person team and service on the NEMA Board of Governors and Executive Committee underscore his industry influence.

“In Mike, we have found the ideal next CEO for PGC, and I could not be more excited about the company’s future,” said Rick McClure. “Mike’s deep industry experience, proven leadership capabilities, and shared values as PGC make him the ideal choice to lead the business moving forward.”

“I am very excited to join PGC and build on Rick’s success in partnering with our customers as we navigate through the energy transition and deliver responsive solutions to the evolving electrical grid,” said Mike Plaster. “I have long admired the PGC family and am honored to be leading the business on its next chapter.”

“Since founding PGC in 2017, Rick has been a pioneer in the electrical components sector,” said John-Paul (JP) Munfa, a Senior Managing Director at Blackstone. “We are grateful for Rick’s leadership and continued partnership as Board Chairman, and we are thrilled to have Michael, a proven leader with deep expertise in the industry, join PGC and continue to drive the company’s growth and innovation.”

Prior to his tenure at ABB, Michael spent time at Kirby Risk Electrical Supply and Schneider Electric, where he further sharpened his expertise in sales growth and operational excellence. Mike holds a Bachelor of Science in Mechanical Engineering Technology from Purdue University and an MBA from Butler University. While serving at ABB, he completed its Senior Leadership Development Program at IMD in Lausanne, Switzerland, equipping him with advanced global leadership and strategic management skills.

Power Grid Components

Power Grid Components was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired eight businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality porcelain, composite, and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, power distribution products, and fixed-load transformers.

Blackstone Energy Transition Partners

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $24 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at blackstone.com/our businesses/blackstone-energy-transition-partners.

For press inquiries, please contact:

Power Grid Components, a Blackstone Portfolio Company
PGC Media Contact: Elisabeth Law
elisabeth.law@pgc.com

Power Grid Components (“PGC”), a Blackstone portfolio company, is pleased to announce an exclusive agreement between its subsidiary, Newell, and GAMMA Insulators (“GAMMA”). As part of this agreement, Newell will expand its product line to include GAMMA’s composite distribution insulators for the North American market. This strategic addition reflects PGC’s commitment to strengthening its commercial capabilities and supporting the evolving needs of customers in the North American utility sector.

Newell expands its product offerings with high-quality composite insulators, enhancing nearshoring efforts and service reliability for North American utilities.

Power Grid Components (“PGC”), a Blackstone portfolio company, is pleased to announce an exclusive agreement between its subsidiary, Newell, and GAMMA Insulators (“GAMMA”). As part of this agreement, Newell will expand its product line to include GAMMA’s composite distribution insulators for the North American market. This strategic addition reflects PGC’s commitment to strengthening its commercial capabilities and supporting the evolving needs of customers in the North American utility sector.

“At PGC, we seek manufacturers who share our values and our commitment to delivering reliable products for the growing electrical grid,” said Rick Stanley, President of Newell. “GAMMA’s expertise in producing high-quality insulators will be instrumental in enhancing our capabilities to service customers in the North American market. By leveraging GAMMA Insulators’ manufacturing capabilities in Colombia, this strategic agreement significantly strengthens Newell’s nearshoring efforts. This move ensures more reliable service through reduced lead times, improved logistics, and greater control over our supply chain, ultimately benefiting Newell’s North American customers. Furthermore, GAMMA’s unique offering of porcelain F-neck and aluminum F-neck line posts differentiates Newell’s offerings from the current market.”

GAMMA brings over 60 years of experience in insulator manufacturing with a proven track record as a leading producer in the Central and South American markets.

“GAMMA has been a leading producer of insulators for over 60 years,” said Claudia Arango Botero, General Manager, Energy Business, at GAMMA. “In this new chapter, we look forward to continuing to provide leading engineered products and adding capacity and service capability to the PGC commercial teams.”

PGC remains focused on expanding its product lines within the electrical grid segment. These products are used in mission-critical applications with a strong focus on electrical substations and overhead distribution lines.

About Power Grid Components:

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired eight businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality porcelain and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, power distribution products, and fixed-load transformers.

About Newell:

A decades-long preferred manufacturer and supplier of solid core station posts, Newell has expanded its product line to include overhead line products. The company now has one of the broadest porcelain offerings in the United States, with products that include station posts, line posts, transmission suspension and distribution insulators, and apparatus porcelain. All Newell products meet or exceed ANSI, IEC, and IEEE standards, ensuring the highest levels of quality and reliability.

About GAMMA:

GAMMA Insulators, a subsidiary of Corona, is a leading manufacturer of electrical and utility line products based in Colombia. GAMMA specializes in isolation equipment and solutions for electric utilities, equipment manufacturers, and distributors. With over 60 years of experience, GAMMA Insulators operates state-of-the-art, ISO-certified manufacturing facilities to produce high-quality solutions for the global utility market.

For press inquiries, please contact:

Elisabeth Law
elisabeth.law@pgc.com

Allied Bolt, a subsidiary of Power Grid Components (“PGC”), is proud to announce the release of its new Two-Piece Stainless Steel Fiber Drop Clamp, Item #949. This next-generation clamp is engineered to support Corning’s SST™ and ROC™ Fiber Drop Cables, as well as similar fiber cable profiles from other manufacturers.

Innovative design delivers faster, easier installation and improved performance for fiber cable support applications.

Allied Bolt, a subsidiary of Power Grid Components (“PGC”), is proud to announce the release of its new Two-Piece Stainless Steel Fiber Drop Clamp, Item #949. This next-generation clamp is engineered to support Corning’s SST™ and ROC™ Fiber Drop Cables, as well as similar fiber cable profiles from other manufacturers.

The #949 Clamp introduces a reimagined design that streamlines field installation while enhancing performance and reliability for telecom and utility crews. “At Allied Bolt, we’re committed to developing hardware solutions that reflect the practical needs of field technicians and deliver meaningful improvements to jobsite efficiency,” said Austin Odum, Product Manager at Allied Bolt. “Building on our legacy of engineering excellence, this new clamp delivers enhanced safety and quicker installation — while maintaining the strength and quality our customers rely on.”

Key benefits of the new #949 Fiber Drop Clamp include:

• Fast installation without having to set the shim while trying to place over the fiber cable.
• Integrated shim/wedge prevents installation without the shim.
• Designed for easy installation while wearing work gloves.
• Clamp can easily be loosened and reinstalled to adjust the slack of fiber cable.
• Elongated bail wire provides extra clearance for making attachments too difficult to reach hooks, clamps, or knobs.

The #949 Clamp securely holds an appropriate length of fiber drop cable while maintaining long-term durability and environmental resistance thanks to its stainless-steel construction.

This release reflects Allied Bolt’s commitment to solving challenges faced by lineworkers and contractors working in demanding field conditions.

About Power Grid Components

Power Grid Components, Inc. was founded in 2017 by industry veteran Rick McClure to acquire and grow companies supplying the North American power grid and adjacent markets. Today, PGC provides a broad range of products including high- voltage disconnect switchgear, insulators, instrument transformers, controlled switching devices, and fiber optic hardware.

About Allied Bolt

Allied Bolt, a PGC company, is a trusted manufacturer and supplier of high-performance utility hardware and engineered solutions for telecom and electrical infrastructure. Known for precision manufacturing and durable designs, Allied Bolt’s product lines support mission-critical installations across North America.

For press inquiries, please contact:

Elisabeth Law
elisabeth.law@pgc.com

Power Grid Components (“PGC”), a Blackstone portfolio company, has acquired Mid-Central Electric (“MCE” or “the Company”), a company specializing in the manufacturing of fixed-load transformers sold to distributors, original equipment manufacturers, and utilities. The Company’s pole-mounted, oil- filled, fixed-load transformers are used to provide power from distribution lines for various applications, including capacitor banks and reclosers.

Power Grid Components has acquired Mid-Central Electric, a leading manufacturer of fixed-load transformers for the electrical utility industry.

Power Grid Components (“PGC”), a Blackstone portfolio company, has acquired Mid-Central Electric (“MCE” or “the Company”), a company specializing in the manufacturing of fixed-load transformers sold to distributors, original equipment manufacturers, and utilities. The Company’s pole-mounted, oil-filled, fixed-load transformers are used to provide power from distribution lines for various applications, including capacitor banks and reclosers.

“At PGC, we seek to acquire businesses that deliver reliable products for the electrical grid,” said Rick McClure, founder and CEO of PGC. “Mid-Central’s specialty transformers can help meet the increasing demand for electricity and the integration of distribution automation technologies into the U.S. grid.”

Mid-Central Electric’s fixed-load transformers are manufactured in Oregon, WI, and feature the industry’s most compact tank diameter. Their models can be configured to meet a wide range of specifications.

About Power Grid Components:

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired eight businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality porcelain and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, power distribution products, and fixed-load transformers.

About Mid-Central Electric:

Mid-Central Electric is a company specializing in the manufacturing of fixed-load transformers to distributors, original equipment manufacturers, and utilities in the electrical industry. The company is headquartered in Oregon, WI.

For press inquiries, please contact:

Elisabeth Law
elisabeth.law@pgc.com

Power Grid Components (“PGC”), a Blackstone portfolio company, announced its new brand today. This marks a significant transformation and reinforces its commitment to becoming the reliable partner of choice for electrical grid solutions. This new identity is a visible representation of PGC’s evolution as a leader in the industry. It features a modernized visual identity across its portfolio, fostering a cohesive vision.

Power Grid Components (“PGC”), a Blackstone portfolio company, announced its new brand today. This marks a significant transformation and reinforces its commitment to becoming the reliable partner of choice for electrical grid solutions. This new identity is a visible representation of PGC’s evolution as a leader in the industry. It features a modernized visual identity across its portfolio, fostering a cohesive vision.

The brand launch will be celebrated internally throughout January at various events across our sub-brands, symbolizing a fresh start for the new year and reinforcing our collective mission to deliver exceptional solutions to our customers. The transformation is designed to clarify PGC’s extensive offerings, ensuring that both customers and employees have a clear understanding of the company’s mission amidst an ever-evolving industry landscape.

PGC has achieved a modern brand experience that differentiates its services and clearly communicates the exciting journey ahead. The rollout of this rebranding will occur gradually over the coming months, encompassing a rebranding of PGC’s seven portfolio companies and hundreds of internal touchpoints across its operations.

With this announcement, PGC is also proud to introduce its new website at pgc.com. This centralized digital hub provides a comprehensive platform showcasing the full range of offerings, products, and solutions available across Power Grid Components’ portfolio. The new domain is a pivotal step in streamlining access to vital information and enhancing the user experience for both customers and stakeholders.

“As PGC continues to grow organically and expand its portfolio, our new brand unites our internal efforts and strengthens customer communication about our future. We are an evolving organization dedicated to the success of our customers and employees,” said Rick McClure, CEO of PGC.

About Power Grid Components:

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired seven businesses and is a supplier of high-voltage disconnect switchgear, high-quality composite, porcelain and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, and power distribution products.

For press inquiries, please contact:

Elisabeth Law
elisabeth.law@pgc.com

Power Grid Components (“PGC”), a Blackstone portfolio company, today announced the acquisition of Elliott Industries Inc. (“Elliott”), a company specializing in made-to-order electrical equipment for utilities, original equipment manufacturers (“OEMs”) and commercial and industrial (“C&I”) customers. This strategic acquisition will enhance PGC’s power distribution product portfolio, while ensuring the continuation of the Elliott brand and reputation.

Power Grid Components has acquired Elliott Industries, a leader in custom electrical equipment manufacturing for electric utilities, original equipment manufacturers, and commercial & industrial customers.

Power Grid Components (“PGC”), a Blackstone portfolio company, today announced the acquisition of Elliott Industries Inc. (“Elliott”), a company specializing in made-to-order electrical equipment for utilities, original equipment manufacturers (“OEMs”) and commercial and industrial (“C&I”) customers. This strategic acquisition will enhance PGC’s power distribution product portfolio, while ensuring the continuation of the Elliott brand and reputation.

Founded in 1952 by Ken Elliott and located in Bossier City, LA, Elliott has built a strong reputation for its high-quality, custom-engineered electrical equipment, whose products include power distribution products (e.g. pad-mounted switchgear, bus enclosures, metering stations) and molding component products (e.g. bushings, insulators). The company has been led in recent years by siblings Patricia Willcox and Ken Elliott III, who took over the business from their father.

“The Elliott family have built a trusted brand over several decades, developing a well-earned reputation for product quality, reliability, and customer service,” said Rick McClure, CEO and founder of Power Grid Components. “We are committed to preserving the Elliott brand while leveraging our resources to drive innovation and growth.”

“My brother Ken and I are thrilled for our company to join the PGC family,” said Patricia Willcox, President of Elliott Industries, Inc. “Over the years, we have developed a strong relationship with Rick and the PGC team. As we considered the future of Elliott, it became clear that PGC was the perfect partner, given their commitment to enhancing and investing in businesses while focusing on quality, reach, and customer service. We are confident that PGC will maintain our high standards and continue to deliver outstanding products and services to both our loyal customers and those we aim to attract in the future. I would also like to express our heartfelt gratitude to our dedicated employees, sales representatives, distributors, suppliers, and especially our customers for their unwavering support, trust, and loyalty to Elliott over the years. We are excited about the future and believe the company is in capable hands. ” Patricia and Ken will stay on to help transition the company under new ownership for an extended period.

PGC’s acquisition of Elliott highlights the favorable market trends surrounding increased investment in the maintenance and modernization of electrical infrastructure in the United States. In recent years, Elliott has effectively capitalized on these trends, demonstrating strong growth driven by rising demand for its power distribution products.

CRI Capital Advisors acted as the financial advisor to Elliott Industries.

About Power Grid Components:

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired seven businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality composite, porcelain and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, and power distribution products.

About Elliott Industries:

Elliott Industries, Inc. is a leading manufacturer of high-voltage electrical equipment, serving utilities, industrial and commercial customers, and original equipment manufacturers. They specialize in switchgears, bushings, insulators, and other critical components for power distribution and transmission systems. The company is committed to providing quality products and services to ensure reliable and efficient electrical operations. The company is headquartered in Bossier City, LA.

For press inquiries, please contact:

Elisabeth Law
Director of Brand Marketing
Power Grid Components, Inc.

Power Grid Components (“PGC”), a Blackstone portfolio company, today announced that it has acquired Vizimax Inc., a leading provider of innovative solutions to measure, control and switch high- and medium-voltage electric power systems. Vizimax’s cutting-edge controlled switching device is the market-leading solution for managing and optimizing inrush currents, thereby extending the useful life of critical electrical equipment, including power transformers and circuit breakers. Headquartered in Longueuil, Quebec, Vizimax is led by President Jean-Guy Lacombe and was previously owned by a group of investors led by BDC Capital and Yaletown Ventures.

Power Grid Components has acquired Vizimax, a leading supplier of electronic devices that reduce stress on critical electrical equipment and ensure stable and reliable power supply.

Power Grid Components (“PGC”), a Blackstone portfolio company, today announced that it has acquired Vizimax Inc., a leading provider of innovative solutions to measure, control and switch high- and medium-voltage electric power systems.

Vizimax’s cutting-edge controlled switching device is the market-leading solution for managing and optimizing inrush currents, thereby extending the useful life of critical electrical equipment, including power transformers and circuit breakers. Headquartered in Longueuil, Quebec, Vizimax is led by President Jean-Guy Lacombe and was previously owned by a group of investors led by BDC Capital and Yaletown Ventures.

“At PGC, we seek partners who share our values and commitment to delivering innovative solutions to build, maintain, and protect the electrical grid,” said Rick McClure, founder and CEO of Power Grid Components. “By adding Vizimax to our portfolio of companies, we gain exceptional talent, including an experienced leadership team led by Jean-Guy, and a product that offers unparalleled protection for critical power devices utilized in electrical systems around the world. We look forward to helping Jean-Guy and his team accelerate the growth of Vizimax, particularly here in the United States.”

The acquisition of Vizimax will expand PGC’s footprint both in North America and internationally, as Vizimax sells into diverse markets around the world. The integration of Vizimax’s specialized offering into PGC’s portfolio will enhance Vizimax’s capability to deliver solutions that bolster the electrical grid’s reliability, safety, and security, aligning seamlessly with PGCs core mission.

“We, at Vizimax, are very excited to join the Power Grid Components family,” said Jean-Guy Lacombe, President of Vizimax. “This transaction represents a key step towards strengthening Vizimax’s capabilities in our goal to help ensure grid reliability around the world. We view PGC as the perfect partner to help us continue to provide best-in-class service to our existing customers and further expand our presence in the U.S. market, given PGC’s deep bench of experienced professionals and long-standing relationships with utilities, original equipment manufacturers, and renewable energy developers.”

Nomura Greentech acted as financial advisor to Power Grid Components on the transaction.

About Power Grid Components:

Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply highly-engineered, quality products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired six businesses. Through our brands Royal, Newell, Meister, ITEC, Allied Bolt, and Vizimax, PGC offers high voltage disconnect switchgear, porcelain and glass insulators, instrument transformers, outside plant hardware, and controlled switching devices.

About Blackstone Energy Transition Partners:

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $22 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we work to build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.

About Vizimax:

Vizimax Inc, originally founded in 1988, is a leader in developing innovative and comprehensive solutions to address key challenges related to electrical grid switching, measuring, and controlling. The renowned Vizimax SynchroTeq product allows for switching at the optimal instant of the current wave form, designed to eliminate stress and damage on power devices.