RESA Power Expands and Enhances its Transformer Services Capabilities with the Acquisition of Power Asset Recovery Corporation

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Dec 10, 2024, 08:54 ET

HOUSTON, Dec. 10, 2024 /PRNewswire/ -- RESA Power, LLC (the "Company"), a market leader in power systems electrical testing, transformer services, and life extension solutions for power distribution equipment, has announced the acquisition of Power Asset Recovery Corporation ("PARC").

Based in North Canton, Ohio, Power Asset Recovery Corporation has specialized in supplying substation power transformers, ranging in size from 5MVA to >100MVA, along with high-voltage transformer parts such as insulated bushings (up to 500kV), pumps, LTC switches, fans, and gauges since 1996.

Power Asset Recovery Corporation ("PARC")

Power Asset Recovery Corporation is closely aligned with RESA Power's existing transformer services business, and this acquisition will enable both companies to offer a broadened portfolio of products and services to their respective customer bases.

Mark Angus, Chief Growth Officer at RESA Power, commented on the acquisition, "I'm genuinely delighted and excited to have Rick and the PARC team join RESA. From our very first meeting, it became obvious that not only is there alignment from a business perspective, but we share the same passion, enthusiasm, and unrelenting focus on providing our customers with unparalleled levels of service and accessibility to hard-to-find electrical power distribution solutions."

Rick Kopf, President and Founder of Power Asset Recovery Corporation, stated, "Along with my fellow co-owners, we are excited to partner with RESA Power. Their national footprint and broad range of electrical power services and products will allow us to expand more quickly into new geographic markets and provide our customers with an expanded product and service offering. The culture at RESA fits well with what we have created at PARC over the last three decades, and this partnership will provide the opportunity to accelerate the growth of our business and provide our valued employees an environment in which to grow and be supported by the RESA Power team. Our Management and co-workers will remain with the company, and we will continue to provide our customers with the same enthusiastic, honest, service they've come to expect for almost 30 years."

This is the eighth acquisition that RESA Power has completed in 2024, and the thirteenth since the beginning of 2022, when it joined Investcorp.

In accordance with RESA Power's commitment to recognizing the hard work and expertise of its newly acquired employees, the company offers immediate participation in the Employee Ownership Plan (EOP) to any employee who joins through acquisition and has or will soon reach, a year of service with their newly acquired company in the current year. This unique benefit in the electrical power industry is designed to demonstrate RESA Power's appreciation for its employees and to align with the company's "One RESA" philosophy, which emphasizes collaboration and teamwork across all divisions. By providing all employees with a stake in the company's success, RESA Power is fostering a culture of shared ownership and enabling its employees to contribute to the long-term growth and success of the business.

About RESA Power

RESA Power, a portfolio company of Investcorp, a global alternative investment firm, is a market leader in power systems services and life extension solutions for power distribution equipment used in mission-critical environments. With locations across the United States and Canada, RESA Power is uniquely capable of ensuring its customers' critical power systems are safe, reliable, and operating at peak efficiency. The technicians and engineers at RESA Power are experts in testing and servicing transformers, relays, breakers, and other key components of power distribution and control systems. RESA Power also provides quick turn-around custom manufactured or retrofit switchgear and breaker solutions and maintains an extensive inventory of obsolete and hard-to-find components. For more information about how to join the RESA Power group, visit www.resapower.com or follow @RESAPower on LinkedIn

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Alexis Motl
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SOURCE RESA Power