Founded by CEO Steven Townsend in 2005 and headquartered in Seffner, FL, PowerTown is a growing entrepreneur-driven company which provides outsourced services to power and utility companies throughout the Southeast and along the Eastern Seaboard. It specializes in a wide variety of distribution, transmission, telecommunication, and substation construction services.
“PowerTown’s strong performance and reputation in the industry for successful project execution generated strong interest from strategic and financial investors,” said Warren H. Feder, a partner at Carl Marks Securities who led the team that ran a thorough sales process. “Steve is a well-respected operator with over three decades of power industry experience. With the right capital and resources, PowerTown will be able to grow the business exponentially. We believe AEA Investors and Entregado Group are the ideal partners for Steve given their commitment to and deep understanding of the industry.”
“Carl Marks Securities understood from the start that PowerTown provides a service that is no longer a core competency of most utilities,” said Townsend. “Every city needs power lines, street lights, and substations, and we’ve spent more than a dozen years building world-class expertise in those services. With guidance from Carl Marks Securities, we now have exactly the partner we need to achieve our vision and meet our strategic growth objectives as we move into larger markets and additional service offerings.”
Carl Marks Securities, the broker-dealer affiliate of Carl Marks Advisory Group, provides financial advisory services related to merger and acquisitions and private placement of capital. It serves middle market companies and provides a broad range of capital market alternatives.