Allied Power Group announces addition of David Theis as its new President & Chief Operating Officer
Houston, TX, May 22, 2017 – Allied Power Group (“Allied” or the “Company”) announced today the appointment of David (Dave) Theis as President and Chief Operating Officer. Mr. Theis brings over thirty (30) years of successful operational, business development and strategic leadership experience to Allied, most notably founding and growing Leading Edge Turbine Technologies, which was acquired by Dresser-Rand during 2010. Most recently, Mr. Theis served as Senior Vice-President at PAS Technologies, Inc., where he led the Company’s global sales organization and energy business.
“I’m extremely pleased to welcome Dave to our growing team,” said Bruce Agardy, CEO of Allied. “The addition of Mr. Theis fortifies the Company’s strong position and reputation in the industrial gas turbine aftermarket, and serves to enhance the Company’s existing growth initiatives in rotor repair, field services and manufacturing of new replacement components.”
Mr. Theis said, “I look forward to working alongside Allied’s existing management team and helping achieve the Company’s strategic vision. From my perspective, Allied is the most well-positioned, well-capitalized independent provider of a fully-integrated suite of industrial gas turbine products and services. I look forward to continuing to foster Allied’s strong reputation of true partnership with its customers.”
Jerad McMayon, a Partner with OFS Energy Fund and Chairman of the Board of Directors, added, “Since our investment in Allied in late 2015, we have been pleased with the Company’s growth trajectory. The addition of Mr. Theis will provide even greater momentum for executing on the Company’s strategic plans.”
Allied Power Group is a growing independent provider of critical components and services to its customers in the power generation, refining, pipeline and general industrial sectors. Allied’s fully-integrated suite of Industrial Gas Turbine products & services include engineered inspections and repairs, specialized coatings, precision manufacturing of replacement components, experienced field service professionals, multi-faceted rotor repair and an expansive inventory of refurbished parts. The Allied team is comprised of seasoned industry veterans with expertise in engineering and access to the latest technology which allow it to provide its customers with innovative and flexible solutions. Allied’s mission is to consistently partner with its customers to provide targeted engineered solutions that maximize asset readiness and reliability, while alleviating unnecessary risk.
About OFS Energy Fund
Houston-based OFS Energy Fund is a private equity firm that specializes in acquiring and recapitalizing lower middle-market energy service companies. OFS seeks to provide capital to business owners in the form of buyouts, recapitalizations and growth equity investments. OFS currently has in excess of $300 million of committed private equity capital under management across its Fund II and Fund III. Additionally, OFS lends industry relationships, ideas for operational improvement and support in developing strategic growth plans and initiatives. For more information please visit www.ofsfund.com.