Kirkland Advises Centerbridge-Backed MacLean on Merger with Power Grid Components

Kirkland & Ellis advised Centerbridge Capital Partners and its portfolio company, MacLean Power Systems (MPS), on a definitive agreement to merge MPS with Power Grid Components (PGC), a portfolio company of Blackstone Energy Transition Partners and Blackstone Capital Partners. The transaction will also recapitalize MPS. Pursuant to the transaction, PGC’s existing financial sponsor, funds affiliated with Blackstone Energy Transition Partners and Blackstone Capital Partners, will become the majority owner of the combined company, acquiring ownership interests in MacLean currently held by Centerbridge Partners. The combined company will create a unique platform serving U.S. utilities in an era of unprecedented demand due to growing power consumption, electrification, aging infrastructure, grid hardening trends and an evolving power supply. Terms of the transaction were not disclosed.

Read the transaction press release

The Kirkland team included corporate lawyers Maggie Flores, Jimin He and John McKelvey; tax lawyers Mike Beinus, Polina Liberman, David Gilbert and Eli Kukharuk; debt finance lawyers Judson Oswald, Paul Rezvani and Negin Fatahi; and antitrust & competition lawyers Matt Reilly and Chuck Boyars.