One Equity Partners has acquired SGB-SMIT, an independent manufacturer of electrical power transformers and equipment, for an undisclosed amount. The deal comes months after the private equity firm raised $1.65 billion in commitments to back industrial, healthcare and technology sectors. One Equity was recently added to the 10 Young and Thriving PE Firms Worth Watching list by Mergers & Acquisitions.
Dating back to 1900, SGB-SMIT supplies electrical transformers to utilities, grid operators, renewable energy original equipment manufacturers, and industrial clients. The Regensburg, Germany-based target sells a variety of transformers, including: gen step up transformers, auto-transformers, grid transformers, phase shifting transformers, oil distribution transformers, and reactors to customers worldwide. The target has a six production facilities in the U.S., Germany, the Netherlands, Romania and Malaysia.