High Road Capital Partners acquires Nolan Power Group
Nolan Power will be combined with Storage Battery Systems ("SBS"), which High Road acquired in May 2017.
NEW YORK, JULY 30, 2018 – High Road Capital Partners (www.highroadcap.com) announced that it has completed the acquisition of Nolan Power Group, LLC (www.nolanpower.com). Nolan Power will be combined with Storage Battery Systems ("SBS"), which High Road acquired in May 2017 and was the seventh platform acquisition for High Road Capital Partners Fund II.
Based in Mandeville, La., Nolan Power Group is the Gulf Region's premier provider of stationary power management solutions. It supplies and services reserve power batteries, stationary batteries, chargers and rectifiers, DC power systems, uninterruptible power supply (UPS) systems and supporting products for applications across the industrial, manufacturing, oil and gas, data center and telecommunications markets.
"Nolan Power Group is a leading provider of critical standby power solutions and services, and its top-notch technicians and commitment to service and training have positioned the company as the go-to provider in the Gulf Region," said Ben Schnakenberg, Partner, High Road Capital Partners. "Nolan Power's service offering is highly complementary to SBS, and we look forward to supporting both companies as they look to leverage these capabilities to accelerate growth," Schnakenberg continued.
"We are thrilled to partner with High Road and SBS to expand our offerings and geographic reach," said Bobby Nolan, Jr., CEO, Nolan Power Group. "High Road supports our commitment to be the premier provider of standby power services and solutions, and we are excited to have access to their resources and expertise to take Nolan Power to the next level."
Storage Battery Systems and Nolan Power Group will continue to operate as independent entities led by their respective management teams, and Bobby Nolan will join the combined companies' Board of Directors.
High Road's acquisition of Nolan Power Group closed on July 20, 2018. Mr. Schnakenberg led the transaction for High Road and was assisted by Nick Martino, Operating Partner; Scott Rubino, Principal; and Tom Cassidy, Associate. Twin Brook Capital Partners provided financing for the transaction. High Road was advised by Jones Day. KPMG Corporate Finance advised Nolan Power Group. Transaction consideration was not disclosed.
High Road Capital Partners has completed 49 transactions – 18 platform investments, 24 add-on acquisitions and seven exits – since its founding in 2007.