NEW YORK, April 16, 2018 /PRNewswire/ -- GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm which invests in middle market business services and industrial companies is pleased to announce its acquisition of GenServe Inc. ("GenServe" or the "Company"), effective April 12, 2018. GenServe is the largest independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving primarily commercial customers in various industries. The Company's complete and extensive service platform positions it as a one-stop-shop for all generator needs. Established in 1990, the Company has more than 80 employees, including the largest team of Electrical Generating Systems Association (EGSA) certified technicians in the Northeast. GenServe is headquartered in Plainview, NY with two additional branch offices in Fairfield, NJ and Pennsauken, NJ.
"We are excited to begin this partnership with GenServe. Its talented employees and leadership have built a great company with a stellar reputation for safety, quality, and exceptional customer service. We look forward to helping the Company expand their footprint and drive industry-leading growth," said Daphne Dufresne, the GenNx360 Managing Partner who led the transaction.
Michael Vahling, President of GenServe, commented, "GenNx360's knowledge and extensive experience working with business-to-business service companies makes for an attractive partnership opportunity. We look forward to working with GenNx360 to successfully execute on the next phase of our growth strategy."
Financial terms of the transaction were not disclosed.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit http://www.gennx360.com.
About GenServe Inc.
GenServe is a leader in the sale, maintenance and repair of industrial generators and backup power solutions. The Company has the largest team of EGSA certified technicians in its core service area of Metro-NY, Long Island, New Jersey, and Eastern Pennsylvania. GenServe is a one-stop shop provider of comprehensive emergency power supply system solutions to protect companies against the high cost of power failure. For more information on GenServe Inc., please visit www.genserveinc.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partner
Carmen Rojas, Investor Relations Manager
SOURCE GenNx360 Capital Partners