Apollo Global hybrid funds to acquire PowerGrid Services from Sterling Group

Apollo announced that Apollo-managed funds and affiliates associated with its hybrid strategies have agreed to acquire a majority stake in PowerGrid Services, a leading provider of maintenance and construction services to electric utilities across the United States. The Apollo Funds will partner with existing PGS investors, including company management and The Sterling Group, to support PGS’s continued growth. Quentin Gillette, CEO of PGS, and Beth Gillette, PGS Board Member and Strategic Advisor, said, “We are thrilled to announce this transaction with Apollo, which marks an exciting milestone for our company. We founded PGS with a clear vision to be a trusted utility partner dedicated to solving challenges, strengthening our nation’s electric grid and improving quality of life in the communities where we operate. Apollo’s operational and strategic support will help us level up our capabilities and growth while remaining true to our culture and core mission of providing safe and reliable services to our customers. We are also grateful for The Sterling Group’s support over the past several years.”