Oct 15, 2021
High Road Capital Partners' Portfolio Company Exponential Power Acquires Dry Creek and Static Power
High Road Capital Partners (www.highroadcap.com
) announced today that its portfolio company Exponential Power (www.exponentialpower.com
) has completed the acquisitions of Dry Creek Enterprises (www.criticalbatterysolutions.com
) and Static Power Conversion Services Inc. (www.staticpwr.com
), marking the third and fourth acquisitions for Exponential under High Road’s ownership, which began in 2017.
Founded by John Marino in 1999 and based in Bakersfield, California, Dry Creek Enterprises provides custom DC battery system design, project management, and battery testing, maintenance, and repair, as well as installation and removal services, to a variety of locations with critical power needs, including power plants, refineries, emergency response systems, and off-grid backup systems.
“The partnership is a great addition to Exponential Power,” says CEO Jake Walker. “John and his team bring a solid track record and unwavering passion for delivering exceptional service to the reserve power industry.” He added that the acquisition “expands our West Coast service presence and supplements our existing businesses extremely well, while aligning with our strategic vision.”
Static Power Conversion Services Inc., located in Columbia, Maryland, has provided comprehensive engineering, sales, and service to users and manufacturers of critical power systems for nearly four decades. Static Power was co-owned by Ruth McFadden, President; Andrew Nauman, VP & Director of Technical Services; and Robert De Lauter, Operations Manager, who will remain involved in the business.
“The Static team is very excited to join forces with Exponential Power,” said McFadden. “This partnership will allow us to provide our clients with an expanded product and service offering and enhanced expertise while continuing to provide the superior customer service our clients expect.”
Exponential Power CEO Jake Walker added, “We’re thrilled to partner with Static Power and bring our wide range of stored power solutions to the Mid-Atlantic region. Ruth, Andy, Rob, and the team are highly regarded in the industry for their products and service. We’re thrilled to have them on board, and we look forward to continuing to serve our customers and to accelerating the growth of our combined companies.”
The Dry Creek and Static Power acquisitions expand Exponential Power’s service offerings in new geographies and support its mission of delivering reliable and advanced reserve power technology solutions and providing unmatched service experience for customers throughout the United States.
Exponential Power’s acquisition of Dry Creek Enterprises closed on August 30, 2021; the acquisition of Static Power closed October 7, 2021. Ben Schnakenberg, Partner, led the transactions for High Road and was assisted by Tom Cassidy, Vice President. Twin Brook Capital Partners provided financing for the transactions, and Jones Day provided legal counsel to High Road and Exponential Power. Transaction consideration was not disclosed.
High Road Capital Partners has completed 68 transactions – 20 platform investments, 36 add-on acquisitions, and 12 exits – since its founding in 2007.
For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road targets niche-leading companies with revenues of $5 million to $100 million and EBITDA of $1 million to $10 million. Post acquisition, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
Exponential Power, Inc.
Exponential Power, Inc., is a leading provider in stored power solutions utilized by industry leaders in energy services, utilities, industrial, telecom, data center, motive power, and material-handling markets. Dedicated to solving problems, Exponential Power combines years of industry experience and the latest technologies to create the best, customized solution for each client. www.exponentialpower.com