OpenGate Capital Portfolio Company, Power Partners, Inc., Provides Critical Support Following Aftermath of Hurricane Irma

Continuous Production Fulfilled Immediate Demand for Distribution Transformers

LOS ANGELES, CA and ATHENS, GA – October 23, 2017 – OpenGate Capital, a global private equity firm, announced today in a joint statement with its portfolio company, Power Partners, Inc. (“PPI”), a US-based manufacturer of distribution transformers, that PPI has completed a nearly unprecedented manufacturing run to meet the critical demands of its customers who were severely impacted by Hurricane Irma.

Not since Hurricane Katrina has PPI encountered such a high volume of immediate demand for its products. Despite its own employees enduring a loss of power at their residences for 48 hours, the team at PPI worked continuously for more than three weeks, 24 hours a day, to meet the demand of its customers. In this period, over 5,000 liquid distribution transformers were shipped to PPI customers in Florida and PPI’s home state of Georgia which had also suffered power loss caused by high winds and downed trees.

Scott Childs, Director of Sales and Marketing at PPI said “PPI has many alliance partners in the regions that were hit by Hurricane Irma. Even though many on our own team were personally impacted, we recognized the greater needs of our customers and worked around the clock to produce a tremendous volume of units.”

Koben Miceli, PPI’s Chief Executive Officer said, “While restoring power was just one part of a massive recovery effort, we are incredibly proud that we were able to help our partners and their customers in the aftermath of the hurricane. One of PPI’s seven value charters is thrill the customer and rise to the challenge. Our team members definitely rose to the challenge, working diligently to serve our customers most in need.”

Within the first 24 hours of running continuous operations, PPI customers were quick to share their gratitude. A customer at Florida-based electricity company serving central Florida wrote an email in the days following the delivery of PPI transformers that read, “I just wanted to take a second to thank you for your efforts in supporting us!  I am grateful for all that you are doing in supporting us to get transformers shipped and power back on.”

PPI is based in Athens, Georgia and manufactures overhead, round tank, and submersible distribution transformers to customers in the US, Mexico and in the Caribbean. Founded in 1958, Power Partners has produced over 9 million transformers and is a highly regarded name in the transformer industry.

About OpenGate Capital

OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California and has a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate and build successful businesses. To date, OpenGate Capital has executed more than 40 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments. For more information, please visit www.opengatecapital.com.

About Power Partners

Power Partners, Inc. is a leading manufacturer of overhead distribution transformers, serving utility, industrial and commercial customers in North America, Central America, Mexico, the Caribbean and other markets. More than 9 million transformers have been produced at the company’s manufacturing facility in Athens, GA, over its 50-year history. Power Partners offers the shortest manufacturing cycles in the industry and has a stellar track record of responding to storms with great speed. The company is ISO 14001: 2008 certified. For more information, please visit www.powerpartners-usa.com.

For more information, please contact:

OpenGate Media Contacts

Alanna Chaffin

Email: achaffin@opengatecapital.com

Telephone: +1 (310) 432-7000

 

Mike Sitrick, Sitrick & Company

Email: Mike_Sitrick@sitrick.com

Telephone: +1 (310) 788-2850

 

OpenGate Business Development Contact

Joshua Adams

Email: jadams@opengatecapital.com

Telephone: +1 (310) 432-7000

 

Power Partners Contact

Scott Childs

Email: scott.childs@powerpartners-usa.com

Telephone: +1 (706) 548-3121 Ext 400

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