Oaktree Acquires Stake in Enercon Services from AE Industrial Partners

Aecon Group Acquires Oaktree’s 27.5% Convertible Preferred Stake in Aecon Utilities

June 25, 2026

Industrial Services

Aecon Group Inc. has entered into an agreement to purchase the convertible preferred equity investment held by Oaktree Capital Management’s Power Opportunities strategy in Aecon Utilities Group Inc. for $320 million. The deal is expected to close in the fourth quarter of 2026, after which Aecon will hold 100% of Aecon Utilities and capture the full economics of its electrical, communications, and pipeline distribution end-markets.

Arlington Capital Partners Acquires ENERCON and Merges It with Pond & Company

April 29, 2026

Energy

Arlington Capital Partners acquired ENERCON, a specialized nuclear and highly regulated power engineering firm, from funds managed by Oaktree. As part of the transaction, ENERCON will merge with Arlington portfolio company Pond & Company and operate under the ENERCON name from Atlanta-area headquarters.

Generac Holdings Signs Definitive Agreement to Acquire Enercon Engineering

February 23, 2026

Industrial Services

Generac Holdings Inc. has signed a definitive agreement to acquire Enercon Engineering, Inc., a custom power equipment and industrial enclosure manufacturer specializing in generator enclosures and UL-certified switchgear. The deal is intended to expand Generac’s Commercial & Industrial capabilities to serve accelerating demand for backup power in data center and other mission-critical markets, with closing expected in Q2 2026 subject to regulatory approvals.

Oaktree Partners with Electro Switch Corp.

September 10, 2025

Manufacturing

Funds managed by Oaktree Capital Management have partnered with Electro Switch Corp., a Weymouth, Massachusetts-based manufacturer of engineered switches and relays. The investment will provide resources to support Electro Switch’s strategic growth initiatives and long-term expansion into power, utility, data center, defense and industrial end markets; terms were not disclosed.

Enercon Services Acquires Ardent Environmental Group

July 12, 2022

Environmental Services

Enercon Services, a portfolio company of AE Industrial Partners, has acquired Ardent Environmental Group, an environmental consulting firm based in Corona, California. The add-on expands ENERCON's Environmental Services Group capabilities—adding Phase I/II site assessments, remediation and monitoring services—and increases its footprint in the Western United States.

AE Industrial Partners Acquires Enercon Services Inc.

February 10, 2021

Industrial Services

AE Industrial Partners, LP has acquired Enercon Services Inc., a multi-disciplinary engineering and environmental services firm focused on energy and industrial markets. The acquisition, which will serve as a platform investment for AEI Fund II, positions Enercon for growth and expansion into new markets and services; terms were not disclosed.