National Power Corp. Acquired by Valley Ridge Investment Partners
CHATTANOOGA, Tenn. – FourBridges Capital today announced that National Power Corp. has been acquired by Valley Ridge Investment Partners, with significant equity and debt financing provided by Tecum Capital and C3 Capital. FourBridges acted as exclusive advisor to National Power.
Since it was founded in 1985, Raleigh, NC-based National Power has provided customers with practical managed power and network infrastructure solutions. National Power is a leader in its markets for mission-critical electric wiring and infrastructure installations for major cable, telecommunications, wireless and broadband companies. The company also is a national “Master Distributor” for Eaton Power Quality products and the only “Industrial Distributor” for Generac Generators in the Carolinas.
Owner and founder Eddie Youngblood remains president of National Power, LLC and retains a minority equity stake. All of the existing management team and employees will remain in their current roles.
“This investment group, led by Valley Ridge, has the desire, vision and financial capability to grow the company beyond the success we’ve had over the last 30 years,” Youngblood said. “FourBridges was instrumental in making this deal happen. Their team worked closely with ours and guided us through the entire selling process — from marketing the company, to attracting buyers with a shared philosophy, to structuring a deal that accomplished our objectives. This is a fantastic outcome for National Power, our customers, and employees.”
With the financial support of Tecum and C3, Valley Ridge and the company expect significant additional growth investment in hiring of field service technicians, expanding product and service offerings, upgrading enterprise resource planning systems, reviewing certain acquisition ideas and other general corporate purposes.
“Eddie has dedicated his career to building a successful, customer-first company, and the work he poured into his business was recognized by Valley Ridge, Tecum and C3,” said Ralph Montgomery, a managing director with FourBridges. “It was a pleasure working with the National Power team, and we look forward to seeing the future success of this partnership.”
Legal assistance was provided to the Company by Smith Anderson. McGuireWoods and JonesDay represented Valley Ridge and Tecum/C3, respectively, with legal advice. CohnReznick provided accounting, tax and quality of earnings advice to Valley Ridge in conjunction with this transaction.
For questions about this transaction, or to learn about multiples that owner-operators are seeing in this market, contact Ralph Montgomery at 423.702.7499.