EthosEnergy Secures Investment from One Equity Partners Amid Rising Electricity Demand
Deal News | Jan 02, 2025 | One Equity Partners
One Equity Partners (OEP), a prominent middle market private equity firm, has completed its acquisition of EthosEnergy, a key provider of services for rotating equipment in the power generation, energy, industrial, and aerospace markets. Originally formed as a joint venture between John Wood Group and Siemens Energy, EthosEnergy offers an array of after-market services such as maintenance, repair, overhaul, and operations management. With the acquisition, OEP aims to tap into strong growth trends in the gas power market driven by increasing global electricity demands, electrification initiatives, and the rise of renewable energy requiring reliable gas power support. EthosEnergy is poised to leverage OEP's industrial expertise to boost its growth trajectory, particularly in serving the operational demands of aging turbine fleets globally. Financial details on the acquisition remain undisclosed.
Sectors
- Private Equity
- Energy and Power Generation
- Industrial Equipment Services
- Aerospace and Defense
Geography
- Global – EthosEnergy is a global company with operations in over 23 sites worldwide, indicating its international presence across multiple countries.
- North America and Europe – One Equity Partners focuses on investments in North America and Europe, indicating where they likely have significant operations and influence.
Industry
- Private Equity – The article revolves around the activities of One Equity Partners, a private equity firm, in acquiring another company.
- Energy and Power Generation – EthosEnergy operates in the power generation sector, providing services for rotating equipment, which is crucial for energy production.
- Industrial Equipment Services – EthosEnergy specializes in maintenance, repair, and overhaul services in the industrial sector, particularly concerning complex machinery like turbines.
- Aerospace and Defense – EthosEnergy also serves the aerospace and defense industries, diversifying its service offerings beyond energy.
Financials
- Not disclosed – The financial terms of the EthosEnergy acquisition by One Equity Partners were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| One Equity Partners | Bidding Company/Buyer | Company | A middle market private equity firm engaged in acquiring EthosEnergy. |
| EthosEnergy | Target Company | Company | A global service provider focusing on rotating equipment for the energy and industrial sectors. |
| John Wood Group PLC | Selling Company | Company | Former joint venture partner of EthosEnergy, contributing its non-OEM rotating equipment business. |
| Siemens Energy AG | Selling Company | Company | Former joint venture partner of EthosEnergy, providing its non-OEM rotating equipment business. |
| KPMG International Ltd. | Financial Advisor | Company | Provided financial advice for the transaction. |
| Davis Polk & Wardwell LLP | Legal Advisor | Company | Provided legal counsel in the transaction. |
| Arnovia LP | Commercial Advisor | Company | Provided commercial advice for the transaction. |
| Ante Kusurin | Partner at One Equity Partners | Person | Partner from One Equity Partners discussing the strategic benefits of the acquisition. |
| Ana Amicarella | CEO of EthosEnergy | Person | EthosEnergy's CEO speaking on the benefits of partnering with One Equity Partners. |