GenNx360 Capital Partners announced Jan. 4 that GenServe, a portfolio company of GenNx360, has acquired Illini Power Products and Gen-Power. Financial details of the deal were not announced.
GenServe is a provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region, also with significant presence across Texas and Florida and serving mainly commercial customers in various industries, the company said.
GenNx360 is a New York-based private equity firm investing in middle market business services and industrial companies.
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Illini Power Products provides maintenance and repair services for generators and backup power solutions, as well as generator and related equipment sales. Gen-Power, a sister company to Illini Power Products, provides rental generators and accessories to commercial, municipal and other end markets.
“The acquisition of Illini Power Products and Gen-Power marks another major geographic expansion for GenServe,” said Fred Smagorinsky, GenServe’s CEO. “We are excited to bring their team into the GenServe family and accelerate our growth. We are also pleased that the leadership team from the Company, including their former owner and President, Scott Harbaugh, and their General Manager, Chris Rizzo, will be joining GenServe.”