Haynes Boone represented Pioneer Power Solutions, Inc. (Nasdaq: PPSI) in the sale of its Pioneer Custom Electrical Products, LLC (PCEP) business unit to Mill Point Capital LLC, a private equity firm headquartered in New York. The transaction includes $50 million in cash and equity considerations, with the buyer also assuming certain liabilities.
Pioneer Power Solutions designs and manufactures electrical power systems and mobile EV charging solutions, while PCEP provides energy infrastructure solutions to support modern power needs like microgrids and EV charging.
The deal team was led by Houston Mergers and Acquisitions Partner Simin Sun and New York Capital Markets Partner Rick Werner.
Key support was provided by Haynes Boone M&A Associates Brent Duddles, Janet Wyse and Lisa Vasek, Employee Benefits Counsel Tom Hogan and Labor and Employment Partner Jason Habinsky, all contributing to the firm’s nationwide effort.
As part of the transaction, PCEP will join Voltaris Power LLC, a platform formed by Mill Point to expand its presence in electrical infrastructure solutions.
Haynes Boone’s M&A Practice Group has comprehensive experience handling middle-market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $50B. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies.
