Vizimax Inc., a leading provider of innovative solutions for electric power systems, announced that it has been acquired by Power Grid Components (“PGC”), a Blackstone portfolio company. Vizimax’s controlled switching device is the market-leading solution for managing and optimizing inrush currents, extending the life of critical equipment including power transformers and circuit breakers. Headquartered in Longueuil, Quebec , Vizimax is led by President Jean-Guy Lacombe .
“At Vizimax, we are very excited to join the Power Grid Components family,” said Jean-Guy Lacombe , President of Vizimax. “This transaction represents a key step in strengthening Vizimax’s capabilities in our goal to help ensure power grid reliability around the world and we see PGC as the perfect partner to help us continue to best serve our customers and further expand our presence in the U.S. market.”
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“At PGC, we look for partners who share our values and our commitment to providing innovative solutions to build, maintain and protect the electric grid,” said Rick McClure , Founder and CEO of Power Grid Components. “By adding Vizimax to our portfolio of companies, we gain exceptional talent, including an experienced leadership team led by Jean-Guy, and a product that offers unparalleled protection for critical power devices used in electrical systems around the world. We look forward to helping Jean-Guy and his team accelerate Vizimax’s growth.”
The acquisition of Vizimax will expand PGC’s presence both in North America and internationally, as Vizimax sells in a variety of markets around the world.
Power Grid Components, Inc. was founded by electric utility veteran Rick McClure in 2017 to acquire and grow companies that supply high-quality, engineered products used in the North American electric grid and adjacent industries. Since its founding, PGC has acquired six companies.
SOURCE: PRNewswire