Investcorp acquires RESA Power, a leading electrical service provider, from Blue Sea Capital
HOUSTON, Dec. 16, 2021 /PRNewswire/ — Investcorp, one of the world’s leading alternative investment firms, today announced its acquisition of RESA Power (“RESA” or the “Company”), a leading service provider that improves the security, reliability and efficiency of electrical power systems, from Blue Sea Capital, a growth-oriented private equity firm. Terms of the transaction were not disclosed.
Based in Houston, RESA has more than 20 locations in the United States and Canada. The Company is a market leader in providing maintenance and testing, systems integration and related distribution services to customers in the renewable energy, commercial and industrial end markets in North America. The company leverages its experienced and highly skilled employee base of NETA (International Electrical Testing Association) technicians, system solution technicians and engineers to serve more than six thousand customers.
RESA is led by Monte Roach, an industry veteran with over 30 years of experience. Since joining Monte in 2019, the company has accelerated its growth and positioned itself as an industry leader, starting two new locations and completing four acquisitions in the last twelve months while providing exceptional services solving the most complex problems of its customers. Investcorp’s partnership with RESA will focus on the Company’s continued organic growth, geographic expansion across North America and accelerating the completion of strategic and value-creating complementary acquisitions.
“RESA operates in the large and growing energy services market, driven by several favorable macroeconomic factors, including the need to upgrade public and private electricity infrastructure. This growing demand on electrical systems, combined with a shortage of highly skilled technicians, has allowed RESA to become an essential part. their clients’ workflow,” said Amit Gaind, Managing Director and Head of Industry Services, Private Equity at Investcorp. “Monte and the RESA team have done a terrific job of building the company into a leading national player while maintaining the culture that positions them as the employer of choice in the industry. We look forward to building on of our expertise and resources to support RESA in its quest to accelerate its growth and strengthen its competitive position.”
“We believe that Investcorp’s deep understanding of branch-based, human capital-centric industrial services businesses makes it an ideal partner for RESA’s next chapter of growth. Investcorp’s resources and expertise will help us accelerate our growth both organically and through acquisitions,” said Monte Roach. , CEO of RESA Power. “We would like to thank Blue Sea Capital for their unwavering commitment to our business and their true focus on partnership. It was a pleasure working with Blue Sea and we couldn’t be happier for them.”
Rick Wandoff, Managing Partner at Blue Sea Capital, added: “Over the past four years, RESA has established itself as a leader in the power services industry by providing top-notch customer service to customers. and executing multiple accretive acquisitions. We are proud of the company that RESA has become under the direction of a dedicated management team. We particularly appreciate the contributions of RESA technicians and employees throughout the pandemic, which have helped accelerate growth and sharing gains over the past twenty months. We wish Monte and the entire RESA team, as well as Investcorp, much success in their next phase of growth.”
Investcorp has a long history of investing in the industrial services sectors with notable previous investments including American Tire Distributors, Berlin Packaging, FleetPride, Wrench Group and most recently RoadSafe Traffic Systems.
About Investcorp Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP holdings, infrastructure and insurance solutions. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
We invest a significant portion of our own capital in the products we offer to our customers, ensuring that our interests are aligned with those of our stakeholders, including the communities in which we operate, to foster the creation of lasting value. We are proud to partner with our clients to provide solutions tailored to their needs, using a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative approach and entrepreneurial.
Investcorp is now present in 12 countries in the United States, Europe, the GCC and Asia, including India, China and Singapore. As of June 30, 2021, the Investcorp group had US$37.6 billion in total assets under management, including assets managed by third-party managers, and employed approximately 430 people of 45 nationalities globally in its offices. For more information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
About Blue Sea CapitalBlue Sea Capital is a West Palm Beach, Florida-based private equity firm that invests in growth-oriented lower middle market companies valued up to $250 million. The firm has over $750 million in assets under management and invests across three verticals: aerospace and defense, healthcare, and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated businesses, typically as a first or second institutional investor, and to deliver strategic and operational added value that drives accelerated growth, sector outperformance and business transformation. For more information, visit www.blueseacapital.com.
About RESA Power, LLCRESA Power is a market leader in power system services and life extension solutions for power distribution equipment used in critical environments. With more than 20 locations across the United States and Canada, RESA Power is uniquely able to ensure our customers’ critical power systems are safe, reliable, and operating at peak efficiency. RESA technicians and engineers are experts in testing and servicing transformers, relays, circuit breakers and other key components of power distribution and control systems. RESA also provides custom fabricated or retrofitted switchgear and circuit breaker solutions and maintains a comprehensive inventory of obsolete and hard-to-find components. For more information on joining RESA Power, visit https://www.resapower.com.
Investcorp Katherine Segura1 [email protected]
Prosek Partners (on behalf of Investcorp)Erica Warfield1 [email protected]
RESA PowerJulia BaranavaDirector of Marketing1 832-900-8343 [email protected]
Blue Sea CapitalRichard Wandoff1 561-655-8400 [email protected]
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SOURCE RESA Power