Mason Wells Newsletter 2021 – Volume 2
April 1 2021
- Mason Wells Announces the Sale of Qualus Power Services
- SWAT Environmental Appoints New Board Member
- Paragon Development Systems, Inc. Recognized as a Top Managed Service Provider
Mason Wells is pleased to announce the sale of Qualus Power Services, a Mason Wells Buyout Fund III, LP portfolio company. The transaction closed on March 26, 2021.
Based in Cincinnati, Ohio, Qualus is a leading independent provider of outsourced power system engineering, testing, commissioning, and project management services that enhance the functionality and reliability of the power grid. Qualus provides its services to electric utilities and industrial and commercial clients with critical power applications. The business operates from over 20 field service and engineering locations across the United States with nearly 750 employees. Mason Wells invested in Qualus in April of 2015 as part of a targeted search for investment opportunities in the outsourced electrical power services industry.
“This sale concludes a highly successful partnership with the team at Qualus Power Services,” said Kevin Kenealey, Senior Managing Director of Mason Wells. “We successfully executed on the value creation plan that we developed together with the management team, including the completion of five add-on acquisitions under our ownership,” Damon Thome, Director of Mason Wells, added. “During Mason Wells’ ownership, the Company established itself as a leader through geographic and service expansion and a commitment to safety and operational excellence that resulted in strong growth with some of the nation’s largest electric power utilities. We believe the Company and the team are poised for continued success well into the future.”
“Mason Wells has been an outstanding partner for us over the past several years,” said Paul Cody, Chief Executive Officer of Qualus. “The support of Mason Wells on all levels helped us to further establish Qualus as a leader in its industry. We are very excited to continue to grow and expand the business under new private equity ownership.”
Qualus was advised by Harris Williams & Co., and Quarles & Brady LLP served as legal counsel.
For more information, please visit the Company’s website at www.qualuspowerservices.com.
SWAT Environmental, a Mason Wells Buyout Fund IV, LP portfolio company, and the nation’s largest provider of radon mitigation services for homeowners and commercial properties, recently appointed Aaron Fisher to its Board of Directors.
Mr. Fisher serves as the Director of Industry Relations for SWAT Environmental following nearly a decade as the owner/operator of the successful SWAT Environmental Pennsylvania business. In November 2020, Mr. Fisher was elected to the Board of Directors at the American Association of Radon Scientists and Technologists (AARST), is a member of the AARST/ANSI Mitigation Standards Committee, and serves on the Pennsylvania Department of Environmental Protection Radon Protection Advisory Committee.
“Aaron Fisher is a strong advocate for building consumer and regulatory awareness of the health hazards caused by radon. As an AARST Board member and Director of Industry Relations for SWAT Environmental, Aaron will play a unique and meaningful role in improving the indoor air quality standards for homes, schools, and businesses while reducing the health risks posed by radon for millions of Americans,” states Mark Burel, Chief Executive Officer of SWAT Environmental. “We look to Aaron to drive increased awareness of radon exposure risk as well as significant change as the radon mitigation industry evolves to support the health of our communities.”
For more information, please visit the Company’s website at www.swat-radon.com.
Every year, CRN Magazine, a brand of The Channel Company, publishes its Managed Service Provider (MSP) 500 list, recognizing the leading North American technology providers and consultants that have demonstrated innovative and forward-thinking approaches to managed IT services.
The annual list is divided into three categories: the MSP Pioneer 250, the MSP Elite 150, and the Managed Security 100. The Elite 150 recognizes large, data center-focused managed service providers with a strong mix of on-premises and off-premises services. Paragon Development Systems, Inc., a Mason Wells Buyout Fund III, LP portfolio company, has made the 2021 MSP 500 list in the Elite 150 category. PDS’s previous MSP 500 list appearances were in 2020 and 2019 in the Elite 150 category as well.
On March 3, 2021, Dr. Asif Naseem, Chief Executive Officer and President of PDS, announced, “We are once again delighted to be included in the MSP Elite 150 list. We are committed to serving our community with the world-class service offerings that our incredible team has developed. This recognition is a testament to our commitment to continue to assist our customers as they go through their digital transformation journey.”
PDS is honored by this industry recognition and looks forward to continuing to serve its customer base with best-in-class managed service offerings.
For more information, please visit the Company’s website at www.pdsit.net.