Intrepid Advises Shermco on Its Acquisition of PowerTest

Intrepid Investment Bankers, a leading middle-market investment bank, announced today that it acted as the buyside advisor to Shermco Industries, a portfolio company of Gryphon Investors, on its acquisition of PowerTest.  Founded in 1974, with headquarters in Irving, TX, Shermco is a leading provider of electrical maintenance and design services intended for commercial, industrial, municipal, and utility customers. Founded in 2005 and based in Harrisburg, NC, PowerTest is a leading provider of field services, maintenance, testing, and repair to power distribution systems and equipment. Intrepid was retained by Shermco to identify strategic acquisition candidates focused on strengthening their services expertise and expanding their geographic footprint.

“This strategic acquisition is a significant milestone in our journey towards expanding and enhancing Shermco’s service offerings in the southeastern United States, and we anticipate continuing our acquisition strategy to expand our presence in key markets,” said Phil Petrocelli, CEO of Shermco. “This acquisition further enhances Shermco’s service offerings and provides their clients with innovative and comprehensive solutions while bolstering the geographic footprint in the Southeast,” said Joseph Husband, Director of Business Development at Intrepid.”

Gryphon Investors is a leading middle-market private equity firm focused on profitably growing competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, and Software sectors. With approximately $9 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $350 million per portfolio company. The Junior Capital strategy targets investments in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.

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About Intrepid’s Buy-Side Search Group

Intrepid’s Buy-Side Search Group specializes in working across a wide variety of industries with private equity sponsors, private equity-backed portfolio companies, and large corporate acquirers to execute their acquisition strategies. Our team combines the expertise of buy-side search specialists, Intrepid’s dedicated industry coverage groups, and the relentless execution and quality of a premier investment bank. We have access to relationships and resources worldwide as a member of global financial group MUFG, and in partnership with Oaklins, a global middle-market investment consortium.