Brush Group Ltd — a provider of power transformers, electrical switchgear, and engineering solutions that has contributed to the UK’s electrical energy infrastructure for almost 150 years and operates from multiple locations across the UK as well as in Italy — has announced today that ‘funds managed by
Greenbelt Capital Management has signed a definitive agreement to acquire the company from funds managed by OEP Capital Advisors’. Brush reports revenues of about £150 million annually.
Brush’s CEO Nicolas Pitrat said: “This deal represents a brilliant opportunity for Brush. From the outset, Greenbelt has liked what we do, and they are committed to supporting us as we continue to build on our reputation for engineering excellence and technical know-how. What makes this deal exciting is that Greenbelt has a wealth of expertise in the energy sector and are experts on growing businesses operating within the energy transition.
“On behalf of the Brush team, I would like to thank One Equity, which has been transformative for Brush over the last four years. We now look to the future with a new partner that is primed and ready to take us to the next level as we continue to deliver ever-more innovative and customer-focused solutions.”
Andy Hopping, a partner at Greenbelt, said: “Grid enablement and energy resilience are core themes at Greenbelt. We believe Brush plays a vital role in enabling the UK’s evolving electricity infrastructure — providing the equipment and engineering expertise needed to integrate renewables, upgrade aging assets, and meet rising demand. We are excited to partner with Brush and bring our sector experience to help support the company’s next phase of growth.”
Greenbelt Capital Partners, a private equity firm with US offices in Austin (Texas) and New York, focuses on investing in leading middle-market companies that are enabling the transition to ‘a more resilient and electrified energy future’ and has $2.5 billion in assets under management. OEP, founded in 2001 and spun out of JP Morgan in 2015, is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. It has offices in New York, Chicago, Frankfurt and Amsterdam.