Boulder’s Grey Mountain Partners sells Sunbelt Transformer

BOULDER — Grey Mountain Partners, a Boulder-based private-equity firm, has sold Sunbelt Transformer, which provides electrical power solutions for commercial, industrial and utility customers.

Sunbelt, based in Sharon, Pa., and Temple, Texas, was acquired by New York-based Trilantic North America. Grey Mountain partnered with Sunbelt in December 2014 with the goals of expanding the product and service offering, and leveraging Sunbelt’s value proposition to serve new customers.

Robert W. Baird & Co. served as exclusive financial adviser to Sunbelt and Grey Mountain in the transaction. Terms of the deal were not disclosed.

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Trilantic’s investment came in partnership with Sunbelt’s CEO, Dan Sweeney, and other key members of management to support the company’s next phase of growth, the company said in a press release.

“The Trilantic North America team brings deep expertise in our end markets and has a proven history of providing strategic guidance and hands-on support to help growing businesses scale,” Sweeney said in a prepared statement. “We’re confident the financial and human capital commitment will help us better serve new and existing customers through investments in people, systems and solutions.”

Sunbelt provides critical electrical power solutions, such as transformers, switchgear and circuit breakers, as well as related repair and field services. The company operates from 10 locations across the United States.

Since 2003, Grey Mountain has invested in more than 40 companies across a wide range of industries. The firm is currently investing its $425 million Fund III and is actively pursuing new investment opportunities.