News | One Equity Partners
JUN212021
One Equity Partners Completes Acquisition of BRUSH

Successful Carve-Out and the Company’s Simultaneous Acquisition of Aprenda Reflect OEP’s Core Strategy of Accelerating Growth Through Transformational Acquisitions

NEW YORK – One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has completed the acquisition of the BRUSH Group (“BRUSH” or “the Company”), a leading independent provider of equipment, services and solutions for electrical power generation and distribution. Terms of the private transaction were not disclosed.

Founded in 1889, and headquartered in Ashby de la Zouch, United Kingdom, BRUSH has a long and rich history serving power generation, control and distribution products, namely turbogenerators, transformers, and switchgear. The Company’s 1,200 employees also provide a wide range of services for these same product segments worldwide. BRUSH’s products are used across a wide range of end markets, including utilities, industrial, maritime, rail, data centers and renewable applications.

“With a rich history dating back to the 1880s, BRUSH has a proven track record for market leadership, product innovation, and trusted customer service. OEP is excited to partner with BRUSH’s industry-leading management team for the next chapter in the BRUSH story,” said Ori Birnboim, Managing Director, OEP. 

OEP’s acquisition of BRUSH comes at a time when the electrical power sector is undergoing a significant transformation, as governments and corporations work to supply the increased demand for electric power against the backdrop of aging grid infrastructure.

“The world has chosen electricity as its power source for the 21st century, and BRUSH is well positioned to benefit from these positive underlying electrification trends. BRUSH supports its customers upgrading aging grids, meeting peak and standby power needs, and deploying new products for rapidly evolving requirements such as EV charging, data centers, rail transportation, smart grid and renewable applications,” said Steve Lunau, Managing Director, OEP.

Additionally, BRUSH has acquired Aprenda, a well-respected specialist electrical engineering company that provides a wide range of high-level consultation, design and turnkey installation services for customers in the UK power distribution industry, for undisclosed terms. The acquisition of Aprenda, a Cambridgeshire, UK-headquartered business, will provide BRUSH with a leading design engineering platform focused on UK power distribution network projects.

“OEP has a strong track record of building market-leading industrial companies through organic and inorganic investment initiatives that drive operational performance, add product capabilities and expand geographic reach,” said Chris Abbott, CEO of BRUSH. “We’re thrilled to have completed the acquisition of Aprenda with the support of OEP and pleased to be partnering as we continue to further develop the Company. Together, we look forward to starting a new and exciting chapter of growth for BRUSH.”

OEP has a long history of investing in and positioning industrial manufacturing businesses in Europe and the U.S. for sustained growth, including USCO, a leading supplier of aftermarket and OEM parts to the global earthmoving machinery industry; Intren, a provider of electric utility services; and Walterscheid Powertrain Group, a global provider of connected and smart powertrain solutions and complete in-service support for the world’s leading off-highway and industrial equipment manufacturers.

Dechert LLP served as legal advisor to OEP on the Transaction.

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About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds 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 300 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 www.oneequity.com.

About BRUSH

BRUSH has a long and rich history serving power generation customers as an OEM of generation, control, and distribution products. While primarily known for supplying industry leading turbogenerators and power management systems, BRUSH also designs and manufactures transformers and switch gear of equally high quality. BRUSH serves the global power generation and distribution markets with a strong foundation of technical knowledge to support grassroots projects, capacity expansions, and drop-in-replacements. For more information, please visit www.brush.eu/.