Sunbelt Solomon Services announced the acquisition of Maxima Power Group on July 30, 2024, a move expected to significantly expand its market presence and capabilities. Maxima Power Group, which includes Magna IV Engineering Inc., Power Solutions Group LLC., and Industrial Tests Inc., is a NETA-accredited provider of electrical engineering, automation solutions, and technical field services.

Founded in 1982, Maxima Power Group operates with a 370-person team across nearly 20 locations in the United States, Canada, and Chile. Post-acquisition, Maxima will maintain its brands, with Kelly Butz, the current CEO, continuing in his role and also taking on the position of President for Sunbelt Solomon's combined field services.

Gus Cedeño, CEO of Sunbelt Solomon, expressed enthusiasm about integrating Maxima's resources, highlighting the strategic benefits including a doubled field services capability in the U.S. and enhanced service offerings in Canada. He also noted the potential for growth in South America due to Maxima's Chilean operations.

Kelly Butz emphasized the cultural alignment and strategic fit between the companies, aligning with Maxima's vision to be a leading provider of power, energy, and automation solutions.

Charles Fleischmann, Head of Business Services at Trilantic North America, praised the acquisition as a key partnership that will boost value for customers and employees, and accelerate growth.

Harris Williams served as financial advisor and Perkins Coie LLP as legal advisor to Maxima Power Group, while Gibson, Dunn & Crutcher LLP advised Sunbelt Solomon. Financial terms of the transaction were not disclosed.

Source: sunbeltsolomon.com