Allied Power Group Completes Acquisition of Eta Technologies; Rebrands as “APG”; Purchases Houston-Based Facility
News • June 29, 2018
Allied Power Group (“APG”) is pleased to announce the completion of three impactful initiatives as it continues to execute its strategy of building the only fully-integrated independent provider of maintenance solutions to the industrial gas turbomachinery market: i) the acquisition of Eta Technologies, LLC, ii) a rebranding initiative as APG and iii) the purchase of its corporate and operational headquarters in northwest Houston.
Acquisition of Eta Technologies
Eta Technologies, LLC (“Eta”) is the leading independent provider of new and aftermarket parts and maintenance solutions for Siemens V-Series industrial gas turbines. Richard Curtis and John Kearney, the founders of Eta, will join APG in critical leadership roles.
“We are thrilled to welcome Rich and John to the APG team,” said David Theis, APG’s President. “Eta’s V-Series expertise fits seamlessly with APG’s strategy of providing full-service solutions to the power generation industry, including turbine component repair, rotor repair, new parts manufacturing and field service capabilities, and we believe the combination will drive meaningful revenue growth, particulaly internationally.”
“Joining forces with a large pure-play independent provider of gas turbine maintenance solutions has made sense for some time,” said Richard Curtis, founder of Eta. “Dave’s arrival at APG, in conjunction with its success in providing integrated products and services to its customers, were attractive drivers in our selection of a partner; we are extremely enthusiastic about this combination.”
APG has completed a corporate rebranding initiative and welcomes its customers, visitors and friends to its newly re-launched website at www.alliedpg.com.
Purchase of APG’s Corporate and Operational Headquarters
APG has acquired full ownership of its once-leased Houston-based, 120,000 square foot, fit-for-purpose repair and manufacturing facility; APG had been leasing the property since 2009.
Financial terms of the Eta Technologies acquisition and the facility purchase were both undisclosed.
“APG has achieved several transformative milestones during the last year, which is a credit to the efforts of the leadership team, both its tenured members and recent key additions,” said Austin David, APG’s CFO. “We are witnessing dynamic trends in the power generation market, and our team is keen to execute on its next round of growth initiatives.”
“We have seen transformational execution at APG during our ownership period, particularly since the addition of Dave Theis as our President last spring. We believe completion of these initiatives positions APG for further growth as the company continues to execute its strategy,” said Scotty Reynolds, a Member of the APG Board of Directors and a Director at OFS Energy Fund.
APG 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 and 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 APG leadership team is comprised of power generation industry veterans with expertise in engineering and access to the latest technology which allow it to provide its customers with innovative and flexible solutions.
For further information contact:
Lee Wood, Vice President Sales & Marketing, Allied Power Group
Elizabeth LaBelle, Senior Client Service Manager, Allied Power Group
Tel: +1-888-830-3535 www.alliedpg.com