Apollo Hybrid Funds Acquire Majority Stake in PowerGrid Services
July 2, 2025
Apollo-managed funds and affiliates associated with Apollo’s hybrid strategies have agreed to acquire a majority stake in PowerGrid Services (PGS). The Sterling Group and management are partnering with Apollo following the transaction, which is subject to customary closing conditions. The deal was later completed by The Sterling Group with Apollo.
- Buyers
- Apollo-managed funds and affiliates associated with Apollo’s hybrid strategies, Apollo (NYSE: APO)
- Targets
- PowerGrid Services (PowerGrid/PGS)
- Sellers
- The Sterling Group, PowerGrid Services management (existing investors, named as partnering)
- Industry
- Industrial Services
- Location
- Alabama, United States
- Transaction Type
- Buyout
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