The new platform investment will look to support power grid resiliency and modernization, aiming to drive change in energy distribution while setting a new standard in safety and innovation
NEW YORK & LONDON–(BUSINESS WIRE)–Stellex Capital Management (“Stellex”), a New York-based private equity firm, announced today that it has entered into an agreement to acquire the U.S. assets of Rokstad Holdings Corporation (“Rokstad” or the “Company”), a provider of transmission and distribution (“T&D”) services for critical power infrastructure from FTI Consulting Canada Inc, in its capacity as court-appointed receiver of Rokstad. Financial terms of the transaction were not disclosed.
The transaction remains subject to the approval of the Supreme Court of British Columbia (BC), the hearing for which is currently scheduled for January 31, 2025. Once the transaction is authorized by the BC Court, it will be subject to certain closing conditions.
Rokstad provides a comprehensive suite of mission-critical T&D solutions enabling utilities to maintain, enhance, and ensure the reliability and resilience of power infrastructure across the U.S. Founded in 2018, the Company has become a critical partner to the International Brotherhood of Electrical Workers (“IBEW”) and power utilities across the U.S., providing critical maintenance and project solutions.
Stellex is partnering with Catalyst Utility Partners (“CUP”), a firm focused on energy and power utility solutions. CUP is led by John F. Carter and advised by his business partner Dean Seavers, both of whom have extensive leadership experience in the utility, fire and life safety industries and strong track records of driving growth and operational improvements.
Mr. Carter stated, “We are excited to announce this notable acquisition. This transaction combines the strengths of CUP and Stellex with the aim of building a major industry participant within the electric, power and utilities space. We believe Rokstad will not only drive change in energy distribution, but also set a new standard in safety and innovation in the sector as well as provide more support and opportunities to its employees. Safety and workforce development training are key to the Company’s future growth.”
“The partnership with CUP and the acquisition of the U.S. assets of Rokstad are a natural fit for our investment strategy,” added Irina Krasik, Managing Director at Stellex. “By combining our resources and expertise, we will strive to establish Rokstad as a strong player within energy solutions. The industry is at an inflection point where power resiliency and uptime are critical, and natural disasters pose a direct threat to safe power delivery. We believe Rokstad will be able to leverage our capital and strategic resources to meet customers at their critical points of need.”
About Rokstad Holdings Corporation
Rokstad Holdings Corporation is a leading provider of transmission and distribution services for critical power infrastructure across the U.S. With a reputation for safety, reliability, and technical expertise, Rokstad serves utilities with solutions ranging from emergency storm response to large-scale construction projects. The Company’s skilled workforce enable it to deliver high-quality service while adapting to the evolving needs of the energy sector. Rokstad is committed to powering communities and supporting the efficiency of critical electrical infrastructure.
Additional information about Rokstad is available at https://rokstadpower.com/.
About Stellex Capital Management LLC
With offices in New York, Pittsburgh, Detroit, and London, Stellex Capital is a private equity firm with over $3.9 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, industrial tech, food processing and tech-enabled services.
Additional information may be found at www.stellexcapital.com.
About Catalyst Utility Partners
Catalyst Utility Partners is a leading provider of management and energy solutions, specializing in building automation, security, and utility services. Committed to innovation and excellence, CUP helps organizations optimize their energy use, enhance operational efficiency, and ensure safety across various sectors.
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