By Anthony Capkun
August 15, 2017 – Power Survey & Equipment Ltd.—a Montreal-based manufacturer of power quality systems—says it has received $24 million US in funding, which “will be used to support company growth, including the PSL [Power Standards Lab] acquisition, as well as geographic expansion and new product development”.
“The investor syndicate’s strategy with this investment and acquisition is to position Power Survey as a major player in the power quality industry, able to offer an expanded range of services to customers.” explained said Andrée-Lise Méthot with Cycle Capital Management.
The funding round was initiated by majority investor EnerTech Capital and Investissement Québec, along with new investors led by Cycle, joined by Fonds de solidarité FTQ and BDC Capital.
“Our initial investment in Power Survey was aimed at building the foundation for a scalable company, with the goal of expanding into a broader set of power management solutions,” said Scott Ungerer with EnerTech Capital. “This new round of financing reaffirms our belief that Power Survey is well-positioned to capitalize on these opportunities, and the PSL acquisition is a strong move toward providing a more comprehensive solution set to the marketplace.”
Since 1948, Power Survey & Equipment Ltd.has been a provider of customized power factor correction, and harmonic filtering technologies and solutions.