Allied Industrial Partners LLC, an industrial-focused private equity firm, has acquired CAT Entertainment Services, a provider of mobile power generation, power distribution, and temperature control services.  The acquisition is a carve-out from Ring Power Corp., a Caterpillar dealer, which will retain a minority stake in the business. The company, which will be rebranded as CES Power, will be led by co-founder Greg Landa as CEO, supported by the existing leadership team.

Founded in 2000 and now headquartered in Memphis, Tennessee, CES Power offers a range of technology-driven power services to the broadcasting, entertainment, emergency response and industrial sectors, including providing services for large events. Recent CES projects include the 2021 NFL Draft and the 2021 NCAA Final Four tournament, as well as multiple stadium touring acts and music festivals.

“CES represents a compelling opportunity to invest in the market leader of distributed power services in the entertainment space, and the timing could not be better as demand for live events and complex mobile power needs increases,” said Bradford Rossi, co-founder and managing partner at AIP.

“We were very impressed with the company’s ability to weather the pandemic and are excited about the opportunities for future organic expansion and add-on acquisitions,” said Philip Wright, co-founder and managing partner at AIP.

AIP has deployed and allocated over $100 million of capital across two platforms over the previous eight months. 

Eaton Partners, a Stifel business, served as financial advisor, and Kirkland & Ellis LLP served as legal counsel to AIP.