Cascadia Capital (“Cascadia”), an investment bank serving middle market clients globally, today announced that it acted as the exclusive financial advisor to Vancouver, Washington-based Pacific Power Group (“PPG”), a leading distributor of marine engines and power generators, in its acquisition by MSHS Group, a portfolio company of MPE Partners, a private equity firm focusing on lower middle market leveraged buyouts, recapitalizations, and build-up investments.
Founded in 1958, Pacific Power Group is a leading product and parts sales and service provider of marine engines, power generators, commercial automatic transmissions, and new and remanufactured engines. Predominantly located along the Pacific Coast and Western U.S., PPG has recently established marine engine facilities on the Gulf Coast and has continued its long history of supplier relationships and providing customers a complete solution to their power needs.
“I am immensely proud of the company that our team has built, and how our technical expertise, excellent service, and commitment to values have allowed us to achieve competitive growth. I’m excited to work with MPE Partners, as their resources and expertise will support Pacific Power Group in its geographic expansion and in its products, parts, and services offerings,” said Silvio Piccini, CEO of Pacific Power Group. “We are grateful to Cascadia for being a trusted advisor, and their industry expertise and understanding of the competitive landscape proved greatly valuable in this complex transaction.”
The Pacific Power Group business will complement MSHS, a leading third-party maintenance, repair, and overhaul services provider for marine and power generation applications. PPG and MSHS offer similar products and services in the marine engine and power generation segments, and both companies have complementary supplier relationships. This acquisition will provide for a strong geographical presence on the U.S. West, East, and Gulf coasts along with expanded products, services, and end markets.
“Cascadia is honored to have represented Pacific Power Group and its shareholders,” added Jamie Boyd, Cascadia Managing Director and Head of the firm’s Energy Transition & Climate Tech practice. “We are very pleased with this partnership between two strategically aligned businesses working to provide turnkey power solutions, and we are looking forward to seeing the benefits of their combined innovation in technical and engineering capabilities and customer expansion.”
For more information about this transaction, please contact the Cascadia Capital deal team: