FMI Capital Advisors Announces Sale of American Power to GridTek Utility Services
FMI Capital Advisors is pleased to announce the sale of American Power, LLC (American Power) to GridTek Utility Services (GridTek), a First Reserve portfolio company and leading provider of electrical transmission and distribution maintenance, repair and upgrade services for utility and industrial customers. FMI Capital Advisors served as the exclusive financial advisor to American Power for this transaction.
Headquartered in Mesa, Arizona, American Power provides a complete range of transmission, substation and distribution services for both energized and de-energized environments. The transaction expands GridTek’s services footprint in the Southwestern U.S.
“With their knowledge of the electric utility space, FMI proved to be a key player throughout the transaction process,” said Robert McDaniel, Owner of American Power. “They found a partner whose mission aligns with ours, and we are excited to embark on this new journey with GridTek.”
About American Power, LLC
Headquartered in Mesa, Arizona, American Power is a power transmission and distribution company that serves investor-owned utility companies in Arizona and New Mexico. To learn more, visit www.amrpwr.com.
About GridTek Utility Services
GridTek Utility Services (fka The Goldfield Corporation) is a leading provider of electrical transmission and distribution maintenance services engaged in the maintenance of electrical infrastructure for the utility industry and industrial customers. For more information about the Company, please visit the Company's website at: https://gridtekus.com/.
About FMI Capital Advisors
FMI Capital Advisors has fully dedicated and deeply experienced investment banking teams advising clients on merger and acquisition (M&A) transactions across the built environment. We maximize value for our clients through our deep market knowledge, strong technical expertise and an unparalleled network of industry relationships.
FMI Capital Advisors Contact:
Daniel Shumate
Managing Director
[email protected]
919.785.9266