29 Apr 2025
Investcorp, a leading global alternative investment firm, today announced that it has sold its investment in RESA Power (“RESA” or ‘The Company”), a leading provider of power systems electrical testing, transformer services, and life extension solutions for power distribution equipment, to Kohlberg. This transaction marks the first exit for Investcorp’s North American Private Equity Fund I.
Since Investcorp’s acquisition in 2021, RESA has grown revenues and EBITDA by over 4x and today serves thousands of commercial & industrial, utility and datacenter customers across North America. During Investcorp’s ownership period, the Company significantly accelerated organic growth and expanded capabilities across geographies and product categories through strategic M&A. The Company also instituted an Employee Ownership Program that granted equity to all employees with at least one year of service, the first-of-its-kind in the electrical power industry. In addition, to remain at the forefront of technological innovation, RESA most recently invested in machine learning and artificial intelligence technology to better serve their customers.
Mohammed Alardhi, Executive Chairman of Investcorp, stated: “Since we embarked upon our growth journey in 2015, the US has been our biggest growth avenue. Our expertise in private markets, demonstrated over four decades in the world’s largest economy, is evident once again. We have consistently invested in attractive middle-market service businesses in the US, and this outstanding result validates our investment strategy and the talent of our team. We aim to replicate RESA’s success globally across our Private Equity business.”
Amit Gaind, Senior Managing Director and Head of Commercial Services at Investcorp, said: “RESA Power is a one-of-a-kind business and we are proud of the partnership with Scott Harrison and the entire management team. The RESA team embraced our collective vision early on and the collaboration allowed us to accelerate growth both organically and inorganically while taking care of our employees. This is a great outcome for our shareholders and RESA is well positioned for continued success under Kohlberg’s stewardship.”
Scott Harrison, Chief Executive Officer, RESA Power, said: “We are deeply grateful for our partnership with Investcorp. Together, we laid the foundation for sustainable growth by investing in our people and processes, transforming RESA into a stronger, more dynamic company. With Kohlberg’s deep industry expertise and track record of success, we are confident that we have found the ideal partner to help us unlock the next chapter of growth and continue our momentum.”
Investcorp’s North America Private Equity group has been investing in mid-market businesses since 1982 and currently focuses on control buy-out investments in the Business & Professional Services and Commercial Services sectors. It has completed approximately 70 platform investments, deploying more than $23 billion in transaction value since inception.
Guggenheim Securities, LLC and Baird acted as financial advisors and Gibson, Dunn & Crutcher LLP served as legal counsel to Investcorp and RESA in connection with the transaction.