Power Grid Components, Inc. announced Dec. 20 that it has acquired Amelia, Ohio-based Meister International — a fellow distributor of products used to build, maintain and upgrade the North American electric power grid.
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Terms were not disclosed for the deal, which closed in November and represents Power Grid’s fifth acquisition since the company was formed by private investment firm Shorehill Capital LLC and electric grid products industry veteran Rick McClure in 2017.
Meister distributes high- and medium-voltage porcelain and polyester insulators, bushings, bus and standoff pass throughs and related utility hardware. The company was founded in 2003
“Meister is a well-respected name in the industry and an important strategic addition for Power Grid,” said McClure, PGC’s President and CEO, in a news release. “This transaction strengthens our ability to serve customers with an expanded suite of insulator and related utility products along with reliable customer service.”
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Shorehill Capital and McClure formed Power Grid to acquire companies that produce and distribute power grid products in North America. Along with Meister, Power Grid includes Newell Porcelain, Instrument Transformer Equipment Corporation and Royal Switchgear Manufacturing Company. The group of Power Grid companies serve electric utilities, original equipment manufacturers and other customers supporting the electric grid.