GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm which invests in middle market business services and industrial companies is pleased to announce its acquisition of GenServe Inc. (“GenServe”or the “Company”), effective April 12, 2018. GenServe is the largest independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving primarily commercial customers in various industries. The Company’s complete and extensive service platform positions it as a one-stop-shop for all generator needs. Established in 1990, the Company has more than 80 employees, including the largest team of Electrical Generating Systems Association (EGSA) certified technicians in the Northeast. GenServe is headquartered in Plainview, NY with two additional branch offices in Fairfield, NJ and Pennsauken, NJ.
“We are excited to begin this partnership with GenServe. Its talented employees and leadership have built a great company with a stellar reputation for safety, quality, and exceptional customer service. We look forward to helping the Company expand their footprint and drive industry-leading growth,”said Daphne Dufresne, the GenNx360 Managing Partner who led the transaction.
Michael Vahling, President of GenServe, commented, “GenNx360’s knowledge and extensive experience working with business-to-business service companies makes for an attractive partnership opportunity. We look forward to working with GenNx360 to successfully execute on the next phase of our growth strategy.”
Financial terms of the transaction were not disclosed.