Published by Todd Bush on August 10, 2022
CLEVELAND and BOSTON, Aug. 9, 2022 /PRNewswire/ -- MPE Partners ("MPE" or "Morgenthaler Private Equity"), along with portfolio company Motor-Services Hugo Stamp, Inc. ("MSHS") announced the acquisition of Pacific Power Group, LLC ("PPG" or the "Company"). PPG is an industry leading provider of products, parts, and maintenance, repair, and overhaul ("MRO") services for marine, energy, commercial, and industrial equipment.
>> In Other News: Clearlake Capital-Backed FloWorks Acquires Flotech
MPE and MSHS partnered in the transaction with members of PPG's management team, led by Bill Mossey. David Santamaria, CEO of MSHS, said, "For over 30 years, PPG and MSHS have strived to be their clients' trusted partners and recognized for their customer-centered mindset and a deep commitment to a set of common core values. PPG and MSHS are extremely complementary companies with similar ways of working."
Joe Machado, Partner at MPE, added, "We are thrilled to bring together PPG and MSHS to accelerate the growth opportunities of the merged businesses. The combination expands each company's technical talent base, geographic footprint, product offerings, MRO service capabilities, and end-markets to better serve customers."
Bill Mossey, President of PPG, noted, "I am especially excited about how the scale of these firms together enables expanded recruiting and training, which allows us to broaden our technical services. Through an expanded investment in this area, we will strive to become more capable and have greater capacity to solve our customers' challenges and allow them to focus more on their businesses."
Forbright Bank and City National Bank of Florida provided financing to support the transaction. BakerHostetler served as legal advisor to MPE. Cascadia Capital acted as the investment banking advisor to Pacific Power Group. Terms of the transaction were not disclosed.
Headquartered in Vancouver, WA, PPG is an industry leading provider of products, parts, and maintenance, repair, and overhaul ("MRO") services for marine, energy, commercial and industrial equipment. For more information, please visit www.pacificpowergroup.com.
Headquartered in Fort Lauderdale, FL, MSHS is a leading independent, third-party MRO services provider for marine and power generation applications. For more information, please visit www.mshs.com.
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.
SOURCE MPE Partners
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🚀 Climeworks Raises USD 162M to Scale Up Technology 🛠️ DNV Advances Skylark to Enable Safe Scaling of CO2 Pipelines for Carbon Capture and Storage 🍁 Canada’s Rising Role in the G...
Inside This Issue 🏗️ Hyundai Unveils $6B Hydrogen-Powered Steel Mill in Louisiana, Aims to Position State as National Energy Leader 🤝 Deep Sky Inks Next DAC Deal in Germany with Greenlyte Carbon T...
Inside This Issue 🍁 Inside Canada’s Quiet Takeover of the Carbon Capture Industry ✈️ Phillips 66 to Supply SAF to British Airways in Calif 💧 HyVera Distributed Energy Launches Green Hydrogen-On-De...
Next-Gen Construction: 200 & 500kVA Hybrid Fuel-Cell Power USA - English
Elemental Energy launches its latest 200 & 500kVA hybrid hydrogen-BESS solution to optimise power supplies and eliminate combustion generators LONDON, July 3, 2025 /PRNewswire/ -- Elemental En...
Researchers in China have developed a groundbreaking technique that allows proton exchange membrane (PEM) electrolyzers to produce clean hydrogen from impure water, potentially reducing costs and e...
BILBAO, Spain--H2SITE has been awarded the EIC (European Innovation Council) Accelerator program for a project aimed at deploying a first-of-its-kind ammonia cracking unit capable of producing 1 to...
Trump's Budget Bill Boosts Fossil Fuels, Hits Renewable Energy
WASHINGTON - The budget bill the U.S. Senate passed on Tuesday and the House of Representatives is now debating for final approval would dampen development of wind and solar power, kill climate fun...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.