Power Grid Components (“PGC”), a Blackstone portfolio company, yesterday 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.”
Image taken from Power Grid Components website
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.
Image taken from LinkedIn profile
“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.
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