Mason Wells Acquires CE Power Solutions
Cincinnati OH , May 4 2015
Investment will Support the Company’s Rapid Growth
CE Power Solutions, a leading provider of power engineering, testing, and maintenance services to utility and industrial customers, announced today an investment from private equity firm Mason Wells.
“We are excited about the opportunity to partner with Mason Wells to continue the growth of CE Power,” said Bill McCloy, President, and CEO. “Mason Wells will provide CE Power with additional resources to achieve the Company’s long‐term growth initiatives and continue our investment in industry‐leading services and safety. With their strong financial backing, we will plan to rapidly expand our geographic footprint and anticipate adding new locations around the country, including through acquisition.”
“Mason Wells is pleased to support the existing management team in their growth strategy,” said Kevin Kenealey, Senior Managing Director at Mason Wells. “CE Power’s management, employees, and suppliers are all key factors that have allowed the Company to consistently exceed the expectations of its customers. We believe the Company provides an excellent platform for growth and is well-positioned to capitalize on a number of favorable market opportunities.”
CE Power Solutions provides electrical power engineering, testing, and maintenance solutions for 480V through 765kV power systems. The Company serves electric utility power plants, alternative energy facilities, transmission & distribution substations, industrial facilities, institutional facilities, and customers with critical power applications. CE Power’s product and service offerings are delivered with the core business values of honesty, integrity and quality; anchored by a foundation of safety‐first for employees, customers and suppliers. The Company is committed to being the leading‐edge provider to ensure asset integrity for new and existing electrical power systems. For more information please visit the Company’s website at www.cepower.net.
Mason Wells is a leading Midwest‐based private equity firm that is currently investing through Mason Wells Buyout Fund III, a $525 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Outsourced Business Services, Consumer Packaged Goods, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.