One Equity Partners (OEP), a middle market private equity firm, has completed the acquisition of the BRUSH Group (BRUSH0, an independent provider of equipment, services and solutions for electrical power generation and distribution. Terms of the private transaction have not been disclosed.
Founded in 1889, and headquartered in Ashby de la Zouch, United Kingdom, BRUSH has a long and rich history serving power generation, control and distribution products, namely turbogenerators, transformers, and switchgear. The Company’s 1,200 employees also provide a wide range of services for these same product segments worldwide. BRUSH’s products are used across a wide range of end markets, including utilities, industrial, maritime, rail, data centres and renewable applications.
“With a rich history dating back to the 1880s, BRUSH has a proven track record for market leadership, product innovation, and trusted customer service. OEP is excited to partner with BRUSH’s industry-leading management team for the next chapter in the BRUSH story,” says Ori Birnboim, Managing Director, OEP.
OEP’s acquisition of BRUSH comes at a time when the electrical power sector is undergoing a significant transformation, as governments and corporations work to supply the increased demand for electric power against the backdrop of aging grid infrastructure.
“The world has chosen electricity as its power source for the 21st century, and BRUSH is well positioned to benefit from these positive underlying electrification trends. BRUSH supports its customers upgrading ageing grids, meeting peak and standby power needs, and deploying new products for rapidly evolving requirements such as EV charging, data centres, rail transportation, smart grid and renewable applications,” says Steve Lunau, Managing Director, OEP.
Additionally, BRUSH has acquired Aprenda, a well-respected specialist electrical engineering company that provides a wide range of high-level consultation, design and turnkey installation services for customers in the UK power distribution industry, for undisclosed terms. The acquisition of Aprenda, a Cambridgeshire, UK-headquartered business, will provide BRUSH with a leading design engineering platform focused on UK power distribution network projects.
“OEP has a strong track record of building market-leading industrial companies through organic and inorganic investment initiatives that drive operational performance, add product capabilities and expand geographic reach,” says Chris Abbott, CEO of BRUSH. “We’re thrilled to have completed the acquisition of Aprenda with the support of OEP and pleased to be partnering as we continue to further develop the Company. Together, we look forward to starting a new and exciting chapter of growth for BRUSH.”
OEP has a long history of investing in and positioning industrial manufacturing businesses in Europe and the US for sustained growth, including USCO, a leading supplier of aftermarket and OEM parts to the global earthmoving machinery industry; Intren, a provider of electric utility services; and Walterscheid Powertrain Group, a global provider of connected and smart powertrain solutions and complete in-service support for the world’s leading off-highway and industrial equipment manufacturers.
Dechert LLP served as legal advisor to OEP on the Transaction.
