Arcline Investment Management has announced the creation of an electric infrastructure service platform formed by the acquisitions of Electric Power Systems (EPS) and North American Substation Services (NASS).
Arcline is a private equity firm with $4.3 billion of cumulative capital commitments. The company has acquired EPS and NASS from Industrial Growth Partners, which will retain a minority investment in the combined company.
By bringing together EPS and NASS, Arcline aims to create a leader in protection and control engineering and services, high voltage apparatus testing, and critical substation equipment maintenance and installation services.
"Critical infrastructure services and energy transition are two of Arcline's primary investment themes, and the combination of EPS and NASS brings together two industry leaders in these areas," Arcline said. "We look forward to supporting these two great businesses as they perform the essential work of upgrading and maintaining the nation's electrical infrastructure."
"We couldn't be more excited to partner with both Arcline and NASS to establish the leading independent electric infrastructure service platform in North America, "said Steve Reed, CEO of EPS.
Daniel Niccum, President of NASS, commented, "The complementary nature of NASS and EPS' service capabilities, customer relationships, and geographic footprint make this combination a win-win for both companies and, most importantly, for our customers."
