Grand Haven-based Grand Transformers, a designer and manufacturer of transformers and inductors, today announced it has acquired Warner Power, a designer and manufacturer of electrical transformers and power systems in New Hampshire. Terms of the deal were not disclosed.
Grand Transformers is a portfolio company of Blackford Capital, a Grand Rapids-based private equity firm that acquires, manages, and builds middle-market manufacturing, distribution, and service companies.
"The acquisition of Warner adds significant technical capabilities to Grand Transformers, thereby expanding our ability to serve our existing customers' needs in the medium voltage market and in liquid-cooled transformer applications," says Jeff Helminski, chairman of Grand Transformers and managing director at Blackford Capital.
Helminski says Warner provides highly engineered power conversion products that improve process reliability and efficiency for a broad range of industries. He says the manufacturing facilities of both companies will continue production, and management teams from both companies will remain in place, with Nick Hoiles, CEO of Warner Power, being named as CEO of the combined businesses. Warner Power has 75 employees.
Grand Transformers, founded in 1948, serves the elevator, power quality, energy, machine tool, and oil and gas industries, among others. The company has 75 employees and a 55,000-square-foot facility in Grand Haven. Blackford Capital acquired Grand Transformers in 2014. Other portfolio companies include Mopec, Staging Concepts, and Gem Laser, among others.