NEW YORK, April 22, 2019 /PRNewswire/ -- GenNx360 Capital Partners ("GenNx360") is pleased to announce that its portfolio company, GenServe, LLC ("GenServe"), has acquired Power Performance Industries ("PPI" or the "Company") on April 18, 2019.
Based in Yonkers, New York, PPI provides maintenance and repair services to industrial generators and backup power solutions, as well as generator and equipment sales and rentals. The Company serves a diverse set of customers in the healthcare, corporate and real estate end markets.
"PPI offered an attractive opportunity for us to strengthen our repair and maintenance portfolio in the Metro New York area while further expanding into the Northern New York and Connecticut regions. In addition, the Company has exciting and strategic relationships on both the equipment sales and service side that we look forward to further developing," said Mike Vahling, President and COO of GenServe.
"PPI is a great addition to the GenServe platform. This move continues GenNx360's buy and build strategy and further positions GenServe as the leading generator maintenance, service and sales provider in the North Atlantic region," said Daphne Dufresne, GenServe Board member and Managing Partner at GenNx360.
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 New York, 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.
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 www.gennx360.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations
Tel: +1 212.257.6772
SOURCE GenNx360 Capital Partners