Lewis & Clark Capital Adds Power Specialties, Promac and JMI Instrument to Ovation Holdings
January 20, 2022
St. Louis-based private equity firm Lewis & Clark Capital acquired Raytown, Missouri-based Power Specialties Inc., Fenton, Missouri-based Promac Inc., and Highland, Indiana-based JMI Instrument Co., and folded them into its holding company Ovation Holdings. The three businesses will be merged to form Allied Instrumentation, expanding Ovation's capabilities across seven states and adding more than $50 million in annual revenue as add-on acquisitions.
- Buyers
- Lewis & Clark Capital, Ovation Holdings
- Targets
- Power Specialties Inc., Promac Inc., JMI Instrument Co.
- Platforms
- Ovation Holdings
- Industry
- Industrial Services
- Location
- United States
- Transaction Type
- Addon
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