Investcorp sells Resa Power Company to Kohlberg
Investcorp, a leading global alternative investment firm based in Bahrain, has announced that it has sold its investment in Resa Power, a leading provider of power systems electrical testing, transformer services, and life extension solutions for power distribution equipment, to Kohlberg.
This transaction marks the first exit for Investcorp's North American Private Equity Fund I, said the company in a statement.
Resa has grown revenues by over four times and today serves thousands of commercial & industrial, utility and datacenter customers across North America.
During Investcorp's ownership period, the company significantly accelerated organic growth and expanded capabilities across geographies and product categories through strategic M&A, it stated.
Mohammed Alardhi, Executive Chairman of Investcorp, said: "Since we embarked upon our growth journey in 2015, the US has been one of our biggest growth avenues. Our expertise in private markets, demonstrated over four decades in the world's largest economy, is evident once again."
"We have consistently invested in attractive middle-market service businesses in the United States and this outstanding result validates our investment strategy and the talent of our team. We aim to continue this success globally across our Private Equity business," he stated.
Since Investcorp's acquisition in 2021, Resa has grown revenues approximately fourfold and today serves hundreds/thousands of customers in 14 states and provinces across North America.
During Investcorp's ownership period, the Company accelerated organic growth through an enhanced national accounts strategy and completed 14 strategic add-on acquisitions to expand across service offerings and geographies.
The Company also instituted an Employee Ownership Program that granted equity to all employees with at least one year of service, the first-of-its-kind in the electrical power industry, said the statement.
By providing an opportunity for employees to participate in the value that they helped to create, the Company has reduced employee turnover by over 10 percent.
Yusef Al Yusef, Global Head of Distribution at Investcorp, said: "The sale of Resa is a tremendous outcome for our investors, and validates our strategy of growing industrial services businesses through investments in digitization, internal infrastructure, strategic M&A and talent."
"The Resa team embraced our vision fully and is well positioned for continued success," he added.
Resa Power CEO Scott Harrison said: "Investcorp was truly a value-added partner for Resa since day one. Together we laid the groundwork for our digital transformation, including the introduction of proprietary, AI-driven tools like Power Pulse, which monitors asset maintenance cycles."
"Also, by creating a repeatable blueprint for M&A, Investcorp helped accelerate our value creation plan ahead of schedule," he added.
A global investment manager, Investcorp specialises in alternative investments across four asset classes: Private Equity, Real Assets, Credit and Liquid Strategies.
Since its inception in 1982, the group has focused on generating attractive returns for clients. Today, it manages $55 billion in assets, including assets managed by third party managers.
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