Centerbridge Partners LP, a private investment firm, has invested in MacLean Power LLC, a manufacturer of products for transmission, distribution, substation and communications infrastructure.
MacLean Power Systems provides an offering of engineered products, including pole line hardware, insulators, arrestors, connectors, anchors, cross-arms and other related products. The company operates in the U.S., Canada, South America, Asia and Europe with sales offices around the world. The company’s previous majority owner, MacLean-Fogg Holdings LLC, will continue to hold a minority ownership position in MPS following the transaction. Steve Scharnhorst will continue to serve as CEO of MPS.
“MacLean Power Systems provides mission-critical products for modernizing and hardening our country’s electrical grid, creating the infrastructure for the continued build-out of renewable power generation, and supporting the transition to a green economy,” comments Conor Tochilin, managing director at Centerbridge. “We are excited to partner with a business and management team of this caliber at such an exciting time for the sector.”
Lincoln International LLC served as financial advisor to MacLean-Fogg and MacLean Power Systems on the transaction, and Winston & Strawn LLP served as legal counsel to MFC and MPS. Wells Fargo Securities LLC served as financial advisor to Centerbridge, and Kirkland & Ellis served as legal counsel to Centerbridge.