Clayton, Dubilier & Rice (CD&R) has closed its acquisition of PowerTeam Services including the appointment of Brian C Palmer as Chief Executive Officer.
PowerTeam provides services to maintain, repair, upgrade, and install natural gas and electric distribution and transmission systems. These services are critical to maintaining the safety, reliability and integrity of aging gas and electric infrastructure. The company’s customer base includes leading regulated utilities in the Southeastern and Midwestern United States, which it serves through a network of 42 locations in 21 states with approximately 4,200 employees. Approximately two-thirds of PowerTeam’s revenue is related to natural gas systems, and more than 70 per cent of revenue is derived from distribution infrastructure.
Palmer assumes leadership of PowerTeam after serving at General Electric for more than 30 years. Most recently, Brian Palmer spent 10 years as the President and CEO of the Measurement & Controls division of GE Oil & Gas, a provider of critical asset performance, control, and protection solutions for energy and industrial infrastructure with USD4.5 billion in revenue. During his tenure, Palmer successfully acquired and integrated 11 companies into Measurement & Controls, creating a global leader in the market. Prior to this role, Palmer held a number of executive leadership and engineering roles throughout the GE Energy organisation.
Palmer succeeds Roxanne Bowman, who has served as Chief Executive Officer of PowerTeam since 2013.
“Brian is well-equipped, strategically and operationally, to drive accelerated growth and geographic expansion in PowerTeam’s business,” says John Krenicki, Chairman of PowerTeam, CD&R Operating Partner, and former Vice Chairman of General Electric and President and CEO of GE Energy. “We also thank Roxanne for her leadership and hard work to position the company for its next phase of growth.”
“The growth opportunities in front of PowerTeam are very compelling,” says Palmer. “I am excited to join the 4,200 PowerTeam associates who work tirelessly every day to safely deliver top-notch service to our customers.”
