中文AV

(鈥淥EP鈥�), a middle market private equity firm, today announced that it has agreed to acquire , a global independent service provider focusing on rotating equipment for customers in the power generation, energy, industrial, and aerospace and defense markets.

EthosEnergy was formed in 2014 as a joint venture between [LON: WG] and [ETR: ENR], each of whom contributed their non-OEM rotating equipment business lines and intellectual property. EthosEnergy provides aftermarket maintenance, repair, and overhaul (鈥淢RO鈥�) as well as outsourced operations & maintenance to power generation and industrial customers operating industrial gas turbines (鈥淚GTs鈥�) and other related, complex equipment. EthosEnergy has three divisions: Optimized Solutions, Operations & Maintenance (O&M), and Aerospace & Defense MRO. The company employs more than 3,600 individuals across 23 global sites and facilities.

鈥淓thosEnergy is uniquely positioned to meet the growing maintenance needs of an aging turbine fleet," said , Partner at 中文AV. "As energy demand rises, these turbines are being pushed beyond their initial design parameters, creating significant opportunities for EthosEnergy鈥檚 flexible, cost-effective services.鈥�

The gas power market is benefitting from several trends, including emerging market growth, adoption of electric vehicles, electrification of heat and other industrial functions, increasing data center demand, and a growing share of 鈥榠ntermittent鈥� renewable capacity that relies on dispatchable gas power to stabilize the grid.

鈥淎s we seek to enhance and grow our operations, we are pleased to have OEP backing us as a partner,鈥� said , CEO of EthosEnergy. 鈥淥EP鈥檚 longstanding and deep industrial sector expertise will support EthosEnergy as we serve growing needs in a critical industry.鈥�

Financial terms of the private transaction were not disclosed.

KPMG International Ltd. provided financial advice, Davis Polk & Wardwell LLP provided legal counsel and Arnovia LP provided commercial advice.

About 中文AV
中文AV (鈥淥EP鈥�) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit .

About EthosEnergy
EthosEnergy turns on potential to deliver services and solutions globally for rotating equipment to make energy affordable, available, and sustainable. Tailoring solutions for the power, oil & gas, industrial and aerospace markets, so customers can achieve more. For more information, visit .