September 21, 2011 – Private equity firm Pfingsten Partners LLC announced that its portfolio company—Powervar Holdings LLC—has acquired the stock of ONEAC Corp., a business of Emerson. Based in Libertyville, Ill., ONEAC is a designer and manufacturer of power quality products that provide power conditioning and protection against line disturbances and outages.
“The combination of ONEAC and Powervar will allow us to leverage our strengths in the core markets we serve and provide for expansion opportunities into the telecom and connectivity markets,” said George Lannert, president and CEO of Powervar.
“The addition of ONEAC expands capabilities for both companies on a global scale,” said John Underwood, senior managing director at Pfingsten. “ONEAC and Powervar unite two industry leaders to capitalize on the high growth potential we see in the niche power quality market.”
Powervar is a global manufacturer and distributor of branded and private label electrical power-conditioning equipment for the medical, retail point-of-sale, industrial and other markets. Products include transformer-based isolated power conditioners and uninterruptible power supplies that resolve power quality problems within mission-critical electronic equipment.
The transaction closed September 9, 2011. No financial terms were disclosed.
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