Funding will support M&A opportunities and drive geographic and product line expansion
Montréal, July 24, 2017 – Power Survey and Equipment Ltd.
“As the new investor lead, we collaborated with Fonds de solidarité FTQ to establish Power Survey’s market value,” said Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital Management
“EnerTech’s investment thesis has focused on the increasing role that distributed energy resources play at the edge of the grid, leading us to invest in areas related to connectivity, optimization, and energy management,” said Scott Ungerer, Founder and Managing Director of EnerTech Capital
“As original investor with EnerTech, we are delighted that new investors are joining us in this round of financing,” said Pierre Gabriel Côté, President and CEO of Investissement Québec. “Our investment enables a Québec-based company to expand by acquisition – a strategy that is consistent with our mission to create value for our businesses.”
“This transaction will solidify the position of PS in the market. This is a good example of an innovative Quebec company that ensures its sustainability by adopting strategies of growth based on acquisitions outside Quebec," said Alain Denis, Senior Vice President, Innovation, of Fonds de solidarité FTQ
“Investing in growing technology companies like Power Survey is an important part of BDC's co-investment strategy," said Phil Anzarut, Partner, co-investor at BDC Capital
“With this investment and our recent acquisition of PSL, we are well positioned to provide solutions to an even broader customer base,” said Mario Barbaresso, President and CEO of Power Survey / Power Standards Lab. “We are grateful to our group of investors for their strong support, and excited that our expanded organization will provide an end-to-end electric power quality solutions to our customers.”
About Power Survey and Equipment Ltd.
Since 1948, Power Survey and Equipment Ltd., (PS) has been a market-leading provider of customized power factor correction and harmonic filtering technologies and solutions. PS serves customers in the United States and Canada, and supports projects around the world through a premium network of agents, value-added resellers and distributors. PS helps reduce high rate-based surcharges for commercial and industrial power users who experience power factor and harmonics issues. For more information, please visit: http://www.powersurvey.com/
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