Private equity investment firm Golden Gate Capital is to acquire a majority equity stake in DMC Power, a designer and manufacturer of proprietary connector technology systems for high voltage power infrastructure from PE firm Bridgepoint.Â
Private equity investment firm Golden Gate Capital is to acquire a majority equity stake in DMC Power (DMC), a designer and manufacturer of proprietary connector technology systems for high voltage power infrastructure from PE firm Bridgepoint.
Financial terms of the transaction, which will see Tony Ward continue to lead the company as chief executive officer and remain a significant shareholder in the business, have not been disclosed.
DMC Power, which was retained by Bridgepoint in 2013 when it sold Permaswage to Precision Castparts Corporation, operates two manufacturing facilities in Carson, CA and Olive Branch, MS, along with multiple distribution facilities strategically located across North America.
The transaction is subject to customary closing conditions.
Baird served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Golden Gate Capital. Harris Williams served as financial advisor and Davis Polk & Wardwell LLP served as legal advisor to DMC Power and Bridgepoint. KPMG and EY Parthenon also advised Bridgepoint.
