Shermco Expands Capabilities with Acquisition of Power Products and Solutions

Supports the company's strategic expansion, doubling service capacity in the Charlotte, NC area

IRVING, Texas, March 11, 2025 /PRNewswire/ -- Shermco Industries, a leader in electrical testing, engineering, maintenance, and repair, announced today the acquisition of Power Products and Solutions (PPS), a NETA-accredited electrical testing and maintenance provider and PEARL-certified breaker reconditioning specialist based in Charlotte, NC. This strategic acquisition doubles Shermco's capacity in the Charlotte area, strengthens its infrastructure, and enhances its ability to deliver exceptional service across the Southeast and beyond. Terms of the transaction were not disclosed.

The acquisition represents a strategic advancement in Shermco's commitment to delivering best-in-class electrical system expertise and reliability. Since 1985, PPS has been a trusted provider of electrical acceptance testing, circuit breaker repair, maintenance, and emergency services throughout the Carolinas.

This partnership expands Shermco's workforce in Charlotte, enhances technical capabilities, and strengthens its service portfolio—including a PEARL-certified breaker shop. With enhanced infrastructure and combined local expertise, Shermco is well-positioned for continued growth and to provide exceptional service across the Carolinas and surrounding regions.

"The acquisition of PPS represents a significant milestone in Shermco's mission to raise the bar for electrical system quality and reliability by strengthening our ability to provide even more comprehensive high-quality services to our clients across the Southeast and beyond," said Phil Petrocelli, CEO of Shermco. "By welcoming skilled team members and expanding our capabilities in our core areas of focus, we are better positioned to deliver safe, reliable operations to our diverse client base."

Shermco is majority-owned by San Francisco-based Gryphon Investors, a leading middle-market private investment firm.

About Shermco
Headquartered in Irving, TX, Shermco provides electrical testing, engineering, maintenance, commissioning and repair services to a wide range of utility, industrial, energy and other end markets. With more than 40 locations, Shermco serves a diversified blue-chip client base across North America. The Company is an active participant in NETA (the InterNational Electrical Testing Association), EASA (Electrical Apparatus Service Association), and AWEA (American Wind Energy Association). For more information, visit www.shermco.com.

About Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on profitably growing, competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon's highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon's three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon's targeted investment sectors.

Shermco Contact:

Drew Johns
Vice President, Corporate Development
Shermco Industries
Drew.Johns@shermco.com

Gryphon Contact:
Jennifer Hurson
845-507-0571
jhurson@lambert.com

or

Caroline Luz
203-570-6462
cluz@lambert.com

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SOURCE Gryphon Investors