Power Grid Components (PGC) – a Blackstone portfolio company – announced that it has acquired Vizimax, a leading provider of innovative solutions to measure, control and switch high- and medium-voltage electric power systems. And Vizimax’s controlled switching device is the go-to solution for managing and optimizing inrush currents, thus extending the useful life of critical electrical equipment, including power transformers and circuit breakers.
Based in Longueuil, Quebec, Vizimax is led by President Jean-Guy Lacombe and was previously owned by a group of investors led by BDC Capital and Yaletown Ventures. The acquisition of Vizimax will expand on PGC’s footprint both in North America and internationally, as Vizimax sells into diverse markets worldwide.
Integrating Vizimax’s specialized offering into PGC’s portfolio will enhance Vizimax’s capability to deliver solutions that bolster the electrical grid’s reliability, safety, and security, aligning seamlessly with PGCs core mission.
Nomura Greentech acted as financial advisor to Power Grid Components on the transaction.
KEY QUOTES:
“At PGC, we seek partners who share our values and commitment to delivering innovative solutions to build, maintain, and protect the electrical grid. 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 utilized in electrical systems around the world. We look forward to helping Jean-Guy and his team accelerate the growth of Vizimax, particularly here in the United States.”
-Rick McClure, founder and CEO of Power Grid Components
“We, at Vizimax, are very excited to join the Power Grid Components family. This transaction represents a key step towards strengthening Vizimax’s capabilities in our goal to help ensure grid reliability around the world. We view PGC as the perfect partner to help us continue to provide best-in-class service to our existing customers and further expand our presence in the U.S. market, given PGC’s deep bench of experienced professionals and long-standing relationships with utilities, original equipment manufacturers, and renewable energy developers.”
-Jean-Guy Lacombe, President of Vizimax
