Milwaukee private equity firm Mason Wells has made an undisclosed investment in Cincinnati-based CE Power Solutions, a power engineering, testing and maintenance services provider.
CE Power targets utility and industrial customers, including utility power plants, alternative energy facilities, transmission and distribution substations, industrial facilities, institutional facilities and customers with critical power applications.
Mason Wells is currently investing through Mason Wells Buyout Fund III, which is worth $525 million.
“We are excited about the opportunity to partner with Mason Wells to continue the growth of CE Power,” said Bill McCloy, president and chief executive officer. “Mason Wells will provide CE Power with additional resources to achieve the company’s long-term growth initiatives and continue our investment in industry-leading services and safety. With their strong financial backing we will plan to rapidly expand our geographic footprint and anticipate adding new locations around the country, including through acquisition.”
“Mason Wells is pleased to support the existing management team in their growth strategy,” said Kevin Kenealey, senior managing director at Mason Wells. “CE Power’s management, employees and suppliers are all key factors that have allowed the company to consistently exceed the expectations of its customers. We believe the company provides an excellent platform for growth and is well positioned to capitalize on a number of favorable market opportunities.”