MacLean Power, Power Grid Components Merge to Form Major Utility Supplier
MacLean Power Systems (MPS) and Power Grid Components (PGC), two of the most established manufacturers serving the electrical infrastructure sector, have announced the signing of definitive agreements to merge and recapitalize MPS. This transaction represents a major consolidation within the utility equipment market at a time when demand for high-quality, engineered grid components is accelerating across the United States.
Under the terms of the deal, funds affiliated with Blackstone Energy Transition Partners and Blackstone’s flagship private equity strategy—PGC’s existing financial sponsor—will become the majority owners of the new combined organization. Blackstone will acquire the ownership stake in MPS currently held by Centerbridge Partners, marking a strategic realignment intended to support long-term growth in the rapidly expanding power infrastructure sector.
The merger will unite the product portfolios, capabilities, and customer networks of MPS and PGC, creating a powerful platform positioned to support U.S. utilities at a moment of unprecedented transformation. Growing electricity consumption, widespread electrification across industries, aging infrastructure, expanded grid-hardening efforts, and the transition toward cleaner power sources are all driving demand for robust, reliable grid components. The combined entity will be one of the largest suppliers of highly engineered equipment for electric transmission, distribution, substations, and communication systems across North America.
MacLean Power Systems: A Long-Standing Leader in Utility Infrastructure
Founded in 1986, MacLean Power Systems has built a decades-long reputation as a trusted partner for utilities, telecom operators, and contractors across the United States. The company specializes in customer-driven, highly engineered components essential for the construction, maintenance, and upgrading of critical grid assets. Its product ecosystem spans switches, pole line hardware, insulators, arresters, connectors, anchors, crossarms, and a wide array of related components.
MPS has distinguished itself through exceptional lead times, product reliability, and ongoing innovation. From rapid deployment during emergency grid restoration to large-scale utility buildouts, MPS solutions are designed with ease of installation, operational efficiency, and long-term durability in mind. This focus on cost reduction and reliability enhancement has made MPS a preferred partner for organizations responsible for maintaining the backbone of America’s electric grid.
Power Grid Components: A Curated Portfolio of Essential Electrical Equipment Suppliers
Power Grid Components was founded in 2017 with a clear objective: to assemble and grow a portfolio of companies delivering critical products to the North American electrical grid and adjacent industries. Over the last several years, PGC has successfully built a diverse collection of businesses offering high-quality, specialized components.
PGC’s portfolio includes:
- Royal: High-voltage disconnect switchgear
- Newell and Meister: Porcelain, composite, and glass insulators
- ITEC: Instrument transformers
- Allied Bolt: Outside plant hardware
- Vizimax: Controlled switching devices
- Elliott: Pad-mounted power distribution products
- Mid-Central Electric: Fixed-load transformers
These businesses serve a broad customer base including major utilities, OEMs, telecommunications providers, packagers, and distributors. The combination of PGC and MPS will significantly broaden the product reach and solution offerings available to these customers.
A Strategic Combination for a Changing Grid Landscape
Once merged, the new MPS/PGC platform will form one of the largest vertically integrated suppliers of engineered utility equipment in North America. The combined organization will offer a comprehensive portfolio addressing nearly every major segment of power infrastructure—from transmission to distribution, substations, grid modernization, and communication networks.
Leadership teams at both MPS and PGC will continue in their current roles post-closing, ensuring operational continuity and supporting a seamless integration. Together, the companies plan to leverage their complementary strengths to accelerate innovation, expand manufacturing capabilities, and enhance customer service.
Executive Perspectives on the Merger
Steve Scharnhorst, CEO of MacLean Power Systems, expressed appreciation to Centerbridge Partners for their partnership and praised MPS employees and customers for contributing to the company’s strong growth in recent years. “We are excited to partner with PGC and Blackstone to accelerate the growth of this industry-leading platform,” he said, emphasizing the opportunity to expand the company’s market presence and product offerings.
Mike Plaster, CEO of Power Grid Components, highlighted the strong alignment between the companies’ values and customer service philosophies. “MacLean Power Systems is a premier brand in our industry,” he noted. “MPS’s comprehensive product portfolio complements PGC’s offerings, and their commitment to service matches ours. Together, we can better serve our customers across all segments of the electrical grid.”
Executives from Blackstone also underscored the strategic significance of the transaction.
JP Munfa, Senior Managing Director, and Mark Zhu, Managing Director, stated that MPS plays a critical role in maintaining and strengthening the electric grid’s safety and resilience. They expressed confidence in the combined company’s ability to drive innovation and meet escalating infrastructure needs.
David Foley, Global Head of Blackstone Energy Transition Partners, added that the investment aligns directly with Blackstone’s focus on opportunities emerging from increased electrification and the broader energy transition. Foley emphasized that MPS, together with PGC, is well positioned to benefit from growing demand for equipment that enhances the reliability, efficiency, and safety of the nation’s power networks.
Conor Tochilin, Senior Managing Director at Centerbridge Partners, reflected positively on MPS’s growth during Centerbridge’s ownership, noting the company’s alignment with long-term trends in grid modernization. He stated that the combination with PGC will unlock significant potential for both companies in a rapidly expanding sector.
Strengthening Blackstone’s Energy Transition Portfolio
The acquisition of MPS builds on Blackstone’s recent investments aligned with electrification and the transition to cleaner energy systems. Blackstone Energy Transition Partners has formed high-conviction investment themes around rising electricity demand and the need for modern grid infrastructure. Previous investments include PGC itself, Wolf Summit Energy, Hill Top Energy Center, Shermco, Enverus, Lancium, Potomac Energy Center, Sediver, Trystar, Westwood, and others.
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