One Equity Partners Expands Portfolio with EthosEnergy Deal

One Equity Partners Completes Acquisition of EthosEnergy

One Equity Partners (OEP), a distinguished middle market private equity firm, has successfully completed its investment in EthosEnergy. This acquisition marks a pivotal moment for OEP, aligning with its strategic goal of enhancing its footprint in the rotating equipment service sector, a vital part of power generation and energy management.

Understanding EthosEnergy

EthosEnergy has established itself as an independent service provider, focusing on delivering superior support for rotating equipment. Formed as a joint venture in 2014, it emerged from a collaboration between major players in the energy sector, including John Wood Group PLC and Siemens Energy AG. The innovative approach of combining resources and expertise from these reputable entities has positioned EthosEnergy as a leading provider in maintenance, repair, and overhaul services for complex equipment worldwide.

Services and Operations

The company specializes in aftermarket services, ensuring that industrial gas turbines and associated systems remain operational and efficient. With its three key divisions—Optimized Solutions, Operations & Maintenance, and Aerospace & Defense MRO—EthosEnergy is equipped to meet the diverse needs of its clients. This comprehensive service offering gives the company a unique advantage in responding quickly to the challenges of aging infrastructure and industry demands.

EthosEnergy's Growth and Market Position

With more than 3,600 employees spread across 23 locations globally, EthosEnergy is poised for significant growth. The current trends in the energy sector, particularly the increase in demand for gas power due to the rise of renewable energy sources, underscore the importance of reliable service providers like EthosEnergy. They play a crucial role in stabilizing the grid while traditional power sources evolve to meet contemporary energy needs.

Strategic Vision for the Future

Ante Kusurin, Partner at OEP, expressed confidence in EthosEnergy’s capabilities, stating that the company is well-positioned to address the growing maintenance requirements of an aging turbine fleet. The partnership will leverage OEP’s extensive industrial sector experience to accelerate EthosEnergy’s growth trajectory.

Industry Trends and Opportunities

Several key trends are shaping the gas power market, including the ongoing growth in emerging markets, the adoption of electric vehicles, and the diversification of electrification within industrial operations. EthosEnergy is strategically placed to capitalize on these trends, ensuring that it meets the rising operational needs of its clientele effectively.

Voices from Leadership

Ana Amicarella, the CEO of EthosEnergy, emphasized the critical nature of this partnership: “We are excited to collaborate with One Equity Partners to enhance and expand our operations. Their deep-rooted expertise in the industrial sector will be instrumental in navigating our next phase of growth.” This partnership highlights a shared vision of innovation and dedicated service to clients worldwide.

The Path Ahead

While financial terms of this strategic acquisition remain undisclosed, the collaboration between OEP and EthosEnergy signifies a major step towards building a stronger, more resilient operation tailored to the industry's evolving landscape. As KPMG International provided financial advice and Davis Polk & Wardwell LLP ensured legal support, the groundwork has been laid for EthosEnergy to harness its potential and grow robustly in a competitive market.

About One Equity Partners

One Equity Partners is a middle-market private equity firm dedicated to driving growth in the industrial, healthcare, and technology sectors across North America and Europe. With a proven track record of more than 400 global transactions, OEP focuses on transforming businesses and creating lasting value. Established in 2001 and supported by a professional team, the firm operates out of locations including New York and Chicago.

About EthosEnergy

EthosEnergy is dedicated to providing innovative solutions for energy challenges and service needs in various sectors, including power, oil & gas, and aerospace. By focusing on sustainability and efficiency, EthosEnergy aims to empower its clients to achieve greater success in an ever-evolving marketplace. Through strategic partnerships and a commitment to excellence, the future looks bright for EthosEnergy and its valued stakeholders.

Frequently Asked Questions

What is the significance of the acquisition of EthosEnergy by One Equity Partners?

This acquisition enhances OEP's position in the rotating equipment sector and aligns with its growth strategy.

When was EthosEnergy founded?

EthosEnergy was established in 2014 as a joint venture between major energy industry entities.

What services does EthosEnergy provide?

EthosEnergy specializes in aftermarket maintenance, repair, and overhaul services for rotating equipment.

How many employees does EthosEnergy have?

EthosEnergy employs over 3,600 individuals globally across various facilities.

What markets does EthosEnergy serve?

EthosEnergy serves the power generation, oil & gas, and aerospace industries, among others.

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