AlixPartners, the global consulting firm, has advised Schneider Electric SE (‘Schneider Electric’), a listed global industrial conglomerate, on the successful sale of its global Load Bank division to Hidden Harbor Capital Partners, LLC (‘Hidden Harbor’) via a newly incorporated entity, Avtron Power Solutions, LLC (‘Avtron Power Solutions’).
Schneider Electric’s load bank division is the leading global manufacturer of load banks, which is a critical power testing device used to test and improve the efficiency and effectiveness of power systems. The Company has developed its market leading position through its unrivalled high-quality product range, underpinned by its best-in-class intelligent controls platform, that is offered on a truly global scale.
AlixPartners, led by Nick Wood (Managing Director, Head of AlixPartners’ Industrial M&A practice), was engaged as the lead M&A advisor to run a full competitive sale process. The team worked with Schneider Electric and the management team to develop a robust business plan and supporting sales materials, engage with potential buyers, lead commercial negotiations, manage the due diligence and carve out process and drive the overall deal timetable.
Commenting on the transaction, Nick Wood said:
“We are very pleased to have supported Schneider Electric on another successful disposal. The newly independent load bank business is very well placed to capitalise on favourable long-term trends across the energy landscape and we are looking forward to seeing the Company continue to build on its market leading position over the coming years.”
Annie Dong, Director of M&A at Schneider Electric, commented:
“AlixPartners drove the sales process from the beginning to its conclusion often going far beyond what we would expect from a typical lead M&A adviser. Their extensive understanding of the business, supported by their experience in delivering complex carve outs was impressive and ultimately led to a great outcome for all parties.”
Bhavesh Patel, CEO of Avtron Power Solutions, commented:
“The AlixPartners’ team played an integral part in supporting us in the development of a standalone business plan and in providing insightful analysis that helped assess numerous carve out considerations. We not only appreciated their exceptional commitment throughout the process but also thoroughly enjoyed working with the team.”
Sourced from Alix Partners