Asplundh Acquires Voltyx from Arcline and Industrial Growth Partners

Arcline Investment Management Acquires Electric Power Systems and North American Substation Services

April 21, 2021

Infrastructure

Arcline Investment Management acquired Electric Power Systems (EPS) and North American Substation Services (NASS) from Industrial Growth Partners to create a leading electric infrastructure services platform (now branded Voltyx). Industrial Growth Partners retained a minority stake in the combined business; the deal brings together protection and control engineering, high-voltage apparatus testing, and substation maintenance capabilities to serve utilities, renewable energy, data center and commercial customers.

Potawatomi Ventures Acquires Lyons Electric

July 30, 2025

Electrical Services

Potawatomi Ventures has acquired Lyons Electric, a Delafield, Wisconsin-based commercial and industrial electrical contractor. The deal brings Lyons Electric into Potawatomi's Emerging Technologies Group to expand its energy and infrastructure services and enhance capabilities in electrical construction, design/build, and operations & maintenance.

Shell USA, Inc. Acquires Volta Inc.

March 31, 2023

Energy

Shell USA, Inc., a subsidiary of Shell plc, has completed the all-cash acquisition of Volta Inc., adding Volta’s EV charging and digital out-of-home media network to Shell’s mobility business. The deal, approved by Volta stockholders and cleared by regulators, transfers Volta’s charging-and-media operations into Shell’s U.S. mobility organization.

Astorg Acquires Majority Stake in Steliau

February 26, 2024

Industrial Services

Astorg, a European private equity firm, has signed an agreement to acquire a majority stake in Steliau, a pan-European value-added distributor (VAD) of electronic solutions, from B&Capital. Steliau, founded in 1992 and headquartered in Montrouge, France, employs more than 200 people across eight countries and will partner with Astorg to accelerate organic growth and execute a buy-and-build strategy.

Ash & Co Acquires Birkel Electric

December 4, 2024

Electrical Services

Ash & Co acquired Birkel Electric, a Chesterfield, Missouri-based electrical contracting firm founded in 1967. The transaction was supported by capital provider Tamarix Capital Partners and advised by Madison Street Capital; financial terms were not disclosed.

Arendals Fossekompani, Advent International and Generation Invest in Volue ASA

October 28, 2024

Software

Arendals Fossekompani, Advent International and Generation Investment Management, via their acquisition vehicle Edison Bidco, have completed a voluntary tender offer to acquire Volue ASA. The take-private buyout positions Volue to accelerate growth as a supplier of software and data solutions to the energy and infrastructure sectors, supporting both organic expansion and future add-on acquisitions.