Daily News: January 30, 2017

Dunes Point Acquires Power Distribution from Smiths Group


Dunes Point Capital has acquired Power Distribution from Smiths Group.

The debt for the transaction, together with an equity co-investment, was provided by certain funds advised by FS Investments and sub-advised by GSO Capital Partners and Bank of America Business Capital. DPC Investment Partners provided the controlling equity for the transaction.

Kirkland & Ellis served as legal advisor to DPC and Alvarez & Marsal Transaction Advisory Group served as financial advisor to DPC. Harris Williams & Co. served as financial advisor to Smiths Group.

Located in Richmond, VA, PDI designs, manufactures, and services mission critical power distribution, static switching, and power monitoring equipment for corporate data centers, industrial and commercial customers sold under the PDI and Onyx Power brands.

PDI has operating facilities in Virginia and California and employs approximately 450 people.