BRUSH Group to Be Acquired by Energy Investor Greenbelt Capital Partners

BRUSH Group Ltd, (“BRUSH” or the “Company”) a leading engineering solutions provider for UK electrical infrastructure projects, announced today that funds managed by Greenbelt Capital Management L.P. (“Greenbelt” or “Greenbelt Capital Partners”) have signed a definitive agreement to acquire the Company from funds managed by OEP Capital Advisors, L.P. (“One Equity”).

A true UK success story, BRUSH has greatly contributed to the UK’s electrical energy infrastructure for almost 150 years and operates from multiple locations across the UK as well as in Italy.

A trusted provider of power transformers, electrical switchgear, and engineering solutions for the transition to net zero, this transaction will see the firm build on the strong and sustained growth it has enjoyed in recent years, with reported revenue of circa £150M annually.

Through its innovative range of engineered products and engineering solutions, BRUSH supports both grid resilience and grid extension, enabling infrastructure upgrades, renewable energy integration, and capacity expansion to meet ever-increasing demand.

Nicolas Pitrat, CEO of BRUSH, said: “This deal represents a brilliant opportunity for BRUSH. From the outset, Greenbelt has liked what we do, and they are committed to supporting us as we continue to build on our enviable reputation for engineering excellence and technical know-how.

What makes this deal genuinely exciting is that Greenbelt has a wealth of expertise in the energy sector and are experts on growing businesses operating within the energy transition.”

He added, “On behalf of the BRUSH team, I would like to thank One Equity, who have been transformative for BRUSH over the last four years. We now look to the future with a new partner who are primed and ready to take us to the next level as we continue to deliver ever-more innovative and customer-focused solutions.”

Andy Hopping, Partner at Greenbelt, said: “Grid enablement and energy resilience are core themes at Greenbelt. We believe BRUSH plays a vital role in enabling the UK’s evolving electricity infrastructure—providing the equipment and engineering expertise needed to integrate renewables, upgrade aging assets, and meet rising demand. We are excited to partner with BRUSH’s seasoned leadership team and bring our sector experience to help support the company’s next phase of growth.”

Speaking on behalf of One Equity, Ori Birnboim, Partner, said: “One Equity is proud to have supported BRUSH through a remarkable journey of strategic growth since 2021. We thank Nicolas, the entire management team, and all of BRUSH’s employees for their unrelenting commitment to delivering best-in-class solutions for customers while keeping to their core values of safety, quality, and customer satisfaction.”

ENDS.

Notes for editors:

About BRUSH Group

BRUSH Group provides agile and adaptive engineering solutions and products, including consultancy services, design, and project management as well as award-winning product technology, to a wide range of projects. A chosen partner for national and regional power generation and distribution network operators, through innovation and a commitment to delivering solutions that address grid-resilience and drive system change, the Company supports the global drive to net zero, helping to create a future-proof infrastructure that meets the needs of today’s changing energy landscape.

BRUSH adopts a ‘solutions first’ approach to ensure the best fit for each customer project which is made possible using the combined expertise of the BRUSH family of Engineering Solutions subsidiaries – Aprenda, Eta Projects, KUS Power Engineering, McGowan, Poise and Rybka.

Find out more at www.brush.eu

About Greenbelt Capital Partners

Greenbelt Capital Partners is a private equity firm with offices in Austin, TX and New York, NY. The firm focuses on investing in leading middle-market companies that are enabling the transition to a more resilient and electrified energy future. With $2.5 billion in assets under management, Greenbelt aims to partner with exceptional management teams to drive growth and build lasting value across its portfolio. The senior team at Greenbelt has committed approximately $6 billion of equity capital across multiple portfolio companies and consummated over $70 billion of M&A and financings in over 260 transactions. For more information, visit www.greenbeltcapital.com.

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

Advisors

Kirkland & Ellis LLP served as legal counsel to Greenbelt in connection with the transaction. Lincoln International LLC served as financial advisor to BRUSH in connection with the transaction. Squire Patton Boggs LLP acted as legal counsel to the Company and One Equity Partners in connection with the transaction.

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