MacLean Power Systems has signed definitive agreements to acquire Delta Star, adding large-scale power transformers, mobile substations and related field services to its electric grid infrastructure portfolio.
The transaction follows MacLean Power Systems’ combination with Power Grid Components earlier in 2026 and is intended to create a broader portfolio spanning transmission, distribution and substation infrastructure.
Existing MPS financial sponsors Blackstone Energy Transition Partners, Blackstone Capital Partners and Centerbridge Partners are expected to make substantial additional investments to fund the acquisition.
Founded in 1908 and headquartered in Lynchburg, Virginia, Delta Star produces engineered-to-order power transformers, mobile and unitized substations, auxiliary trailers and field services.
Its customers include electric utilities, data centers, industrial companies and renewable energy operators.
Delta Star employs more than 1,400 people across the U.S. and Canada and operates manufacturing campuses in Lynchburg, Virginia; San Carlos, California; and Saint-Jean-sur-Richelieu, Quebec.
The acquisition will expand MPS further into the substation market and add larger-scale transformer capabilities as utilities and data center operators invest in additional power infrastructure and grid modernization.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed.
Jefferies, JPMorgan, Barclays and UBS are serving as financial advisors to MacLean Power Systems. Vinson & Elkins and Blake, Cassels & Graydon are serving as legal advisors.
Wells Fargo is serving as financial advisor to Delta Star, with Hunton Andrews Kurth, Johnson Legal Group and Woods Rogers providing legal counsel.
KEY QUOTES:
“At MPS, every decision starts with our customers and the challenges they face in building, maintaining, and modernizing the grid. Delta Star brings highly respected power transformer and mobile substation capabilities, which complement our existing portfolio and strengthen our ability to support customers across the full power delivery network. Just as importantly, Delta Star brings a team that shares our commitment to safety, quality, reliability, and doing the right thing for the customer every day. We look forward to welcoming Delta Star’s dedicated employees to our team and to supporting Delta Star’s continued growth by expanding capacity and working together to deliver even greater value to our shared customer base.”
Steve Scharnhorst, CEO of MacLean Power Systems, and Mike Plaster, President of MacLean Power Systems
“We are excited about the opportunities this transaction creates for Delta Star, our employees, and our customers. MPS shares our commitment to quality, innovation, and serving the evolving needs of the electrical grid. Together, we will be well positioned to build on Delta Star’s strong foundation and continue delivering the reliable power solutions our customers depend on.”
Jason Greene, President and CEO of Delta Star
“Delta Star has a long track record of serving electric utilities and other customers across North America with a high degree of innovation, quality, and trust. Its leading power transformer and mobile substation solutions further strengthen MPS’s capabilities, and we are excited to work to help accelerate the combined company’s continued growth.”
JP Munfa, Senior Managing Director at Blackstone, and Mark Zhu, Managing Director at Blackstone
“We continue to see significant demand for investment across dependable power infrastructure. This combination with Delta Star enhances MPS’s ability to deliver critical equipment and solutions that help utilities, data centers, power generation providers, and other customers meet evolving needs while strengthening the safety, reliability and efficiency of the North American electric grid.”
David Foley, Global Head of Blackstone Energy Transition Partners
“We are thrilled that Delta Star is joining MPS and look forward to working with Delta Star’s employees and customers going forward. Delta Star shares MPS’s strong commitment to innovation, quality, and customer service, which will enable the combined business to enhance its offerings and better serve customers as it grows.”
Conor Tochilin, Senior Managing Director at Centerbridge
