Shermco Industries Acquires Power Test, a Leading NETA Testing Company

Source: www.gulfoilandgas.com 4/2/2024, Location: North America

Shermco Industries, Inc. ("Shermco"), one of North America's largest and fastest growing providers of electrical testing, maintenance, commissioning and repair services, announced today it has completed the acquisition of Power Test, Inc. ("Power Test"), a NETA-accredited electrical testing business based in Harrisburg, NC. Terms of the transaction were not disclosed.

Since 2005, Power Test has been a leader in providing field service, maintenance, testing, repair and analysis of power distribution systems and equipment to numerous customers in Charlotte and Raleigh, NC and surrounding areas. Power Test is accredited by NETA, the InterNational Electrical Testing Association.

The Power Test management team, including Ron McCormick, Doug Templeton and Rich Walker, will join Shermco following the acquisition. Leveraging the support and resources of the wider Shermco organization, the team will continue to offer unmatched service excellence and a rigorous focus on safety, aligning with Shermco's foundational values.

"This strategic acquisition is a significant milestone in our journey towards expanding and enhancing Shermco's service offerings in the southeastern United States, and we anticipate continuing our acquisition strategy to expand our presence in key markets," said Phil Petrocelli, CEO of Shermco.

Doug Templeton, owner at Power Test, added, "We are very excited to join the Shermco team, which shares our dedication to maintaining the highest standards in safety and professionalism for both our employees and clients. Their additional resources and expertise will allow us to continue to grow and add innovative services."

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


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