The Principals of True North Advise SESCO in Sale
SESCO acquired by LFM Capital
The Principals of True North Strategic Advisors are pleased to announce the sale of their client Systems Engineering and Sales Co. (“SESCO” or the “Company”), a leading supplier of power transformer installation and maintenance processing equipment, to LFM Capital. CP Energy Holdings (“CPEH”) also participated as a minority investor.
Founded in 1968 and with roots extending back to the early 1900’s, SESCO designs and manufactures transformer service equipment and custom oil purification systems. This equipment allows for the safe operation of medium and high-voltage transformers across North America. SESCO is based in Fort Wayne, Indiana.
SESCO will be a part of LFM's electric grid reliability platform, which was launched earlier this year in partnership with ZTZ Services International, LLC, a provider of online transformer monitoring products and solutions.
Jim Stout, SESCO President, stated, “SESCO’s established technical expertise in oil purification and transformer service equipment will be a powerful addition to the platform. Since acquiring SESCO in 1991, we have maintained our focus on product differentiation and long-lasting customer service, leading to our prominent market position and loyal customer base. We are excited about working with LFM and CPEH to ensure a bright future as part of a larger platform.”
LFM Capital, based in Nashville, Tennessee, is a private equity firm focused on lower middle market manufacturing and industrial services businesses. LFM Executive Managing Director, Steve Cook, commented on the transaction, “SESCO has an unparalleled track record as a true market leader with dedicated customers directly tied to the aging power grid. LFM is delighted to partner with Jim and the SESCO team to help the business continue its growth and meet rising customer demand.”
CP Energy Holdings is a private investment firm focused on driving the decarbonization, modernization, reliability and resilience of the energy, power and industrial sectors.
True North Strategic Advisors were the lead strategic and financial advisors to SESCO in this transaction. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc., member FINRA/SIPC. Burch and True North are not affiliated entities.
