PowerGEM – a leading provider of simulation modeling software for the electric power industry – has announced a strategic growth investment from global private equity firm TA Associates. Launched in 2000 and based in Clifton Park, NY, PowerGEM’s power systems transmission reliability and market simulation software products serve more than 200 power systems stakeholders.
The company’s software is leveraged by the nation’s top grid operators, including many U.S. ISOs and electric utilities, generation/transmission developers, and engineering firms for assessing electric transmission grid reliability and the impacts of transmission congestion in the U.S. electricity markets.
Electric power companies depend heavily on PowerGEM’s software for simulations, insights, analyses and related technical consulting to optimize decision-making and foster efficient power markets.
The power grid is becoming increasingly challenging with the shift to renewable generation and the high demand for maintaining reliability, this partnership with TA will enable PowerGEM to continue serving its growing client base, accelerate the release of new offerings, and execute high-growth initiatives.
The financial terms of the transaction were not disclosed. And FMI Capital Advisors served as the exclusive financial advisor to PowerGEM for this transaction.
KEY QUOTES:
“In TA, we found a partner who understands PowerGEM’s vision and our commitment to supporting the rapidly evolving needs of the North American power grid. We appreciate the continued support of our clients as we enter this next phase of growth.”
- Boris Gisin, Co-Founder and Chief Science Officer of PowerGEM
“TA offers the experience, broad network and value-add capabilities we need as we aim to grow our suite of software and services offerings to further expand our market reach. We are very excited about this partnership and thrilled for the journey ahead with TA.”
- Manos Obessis, Co-Founder and Chief Business Officer of PowerGEM
“We are honored that the PowerGEM team chose TA as the company’s first institutional investor. PowerGEM has a proven track record of delivering value for its clients, and we see this as an opportunity to further scale the Company’s impact. We look forward to partnering closely with Boris, Manos, and the entire team to execute on priority growth opportunities.”
- Charles Ha, Principal at TA
“TA has a long history of partnering with founder-owned companies and decades of sub-sector expertise in electric utility and simulation modeling software, such as our recent investment in Technosylva. We are excited by this opportunity to support PowerGEM’s growth.”
- Ashu Agrawal, Managing Director at TA
