PRNEWSWIRE
Vizimax, the global point-on-wave leader for transformer energization announces it has been acquired by Power Grid Components
LONGUEUIL, QC, Oct. 7, 2024 /PRNewswire/ -- Vizimax Inc., a leading provider of innovative solutions for electric power systems today announced that it has been acquired by Power Grid Components ("PGC"), a Blackstone portfolio company. Vizimax's controlled switching device is the market-leading solution for managing and optimizing inrush currents, thereby extending the useful life of critical equipment, including power transformers and circuit breakers. Headquartered in Longueuil, Quebec, Vizimax is led by President Jean-Guy Lacombe.
"We, at Vizimax, are very excited to join the Power Grid Components family," said Jean-Guy Lacombe, President of Vizimax. "This transaction represents a key step towards strengthening Vizimax's capabilities in our goal to help ensure grid reliability around the world and we view PGC as the perfect partner to help us continue to provide best-in-class service to our customers and further expand our presence in the U.S. market."
"At PGC, we seek partners who share our values and commitment to delivering innovative solutions to build, maintain, and protect the electrical grid," said Rick McClure, founder and CEO of Power Grid Components. "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."
The acquisition of Vizimax will expand PGC's footprint both in North America and internationally, as Vizimax sells into diverse markets around the world.
About Vizimax: Vizimax Inc, originally founded in 1988, is a leader in developing innovative solutions to address key challenges related to electrical grid switching, measuring, and controlling. Vizimax
About Power Grid Components: Power Grid Components, Inc. was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply highly-engineered, quality products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired six businesses. Power Grid Components
About Blackstone Energy Transition Partners: Blackstone Energy Transition Partners is Blackstone's energy-focused private equity business, a leading energy investor with a successful long-term record, having invested approximately $22 billion of equity globally across a broad range of sectors within the energy industry. Blackstone Energy Transition Partners
Media Contacts: Nicolas Major-Lacombe, Nmlacombe@vizimax.com; Elisabeth Law, Elisabeth.law@powergridcomponents.com
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