Sussex-based
Power Test, a dynamometer and test system manufacturer, has been acquired by Dallas-based
StoneTree Investment Partners according to an announcement Friday. Terms of the deal were not disclosed.
"This investment by StoneTree will help us to drive further growth by combining Power Test's exceptional products and unsurpassed customer support with StoneTree's operational excellence," said
Alan Petelinsek, chief executive officer at Power Test. "This is an exciting time for all Power Test employees and customers as we build upon the foundation of success we have created together with our new partner."
Power Test has approximately 170 employees. With the sale of the company, there are no anticipated changes to the number of Power Test employees or to the current leadership team, according to Joe Froehlich, managing director of Milwaukee-based
TKO Miller, who advised Power Test through the sale process. Petelinsek hopes to provide the necessary resources to support future growth of the company, Froehlich said.
“Power Test is an ideal business for StoneTree -- a strong, innovative management team who leads a growing industrial business with a leading position in niche markets,” said Joel Stanwood, partner at StoneTree. “We are pleased to partner with Alan and the Power Test team and look forward to supporting the company's continued growth.”
The sale of Power Test comes on the heels of two acquisitions made by the company in the last two years.
In June 2020, Power Test acquired Milwaukee-based
Taylor Dynamometer in a deal that brought together two local competitors in the powertrain testing market.
Also in 2020, Power Test acquired Manchester, New Hampshire-based
DynoMite Dynamometer, a manufacturer of dynamometers.
