OpenGate Capital Portfolio Company, Power Partners, Inc., Provides Critical Support Following Aftermath of Hurricane Irma

Continuous Production Fulfilled Immediate Demand for Distribution
Transformers

LOS ANGELES & ATHENS, Ga.–(BUSINESS WIRE)–OpenGate
Capital, a global private equity firm, announced today in a joint
statement with its portfolio company, Power Partners, Inc. (“PPI”), a
US-based manufacturer of distribution transformers, that PPI has
completed a nearly unprecedented manufacturing run to meet the critical
demands of its customers who were severely impacted by Hurricane Irma.

Not since Hurricane Katrina has PPI encountered such a high volume of
immediate demand for its products. Despite its own employees enduring a
loss of power at their residences for 48 hours, the team at PPI worked
continuously for more than three weeks, 24 hours a day, to meet the
demand of its customers. In this period, over 5,000 liquid distribution
transformers were shipped to PPI customers in Florida and PPI’s home
state of Georgia which had also suffered power loss caused by high winds
and downed trees.

Scott Childs, Director of Sales and Marketing at PPI, said, “PPI has
many alliance partners in the regions that were hit by Hurricane Irma.
Even though many on our own team were personally impacted, we recognized
the greater needs of our customers and worked around the clock to
produce a tremendous volume of units.”

Koben Miceli, PPI’s Chief Executive Officer, said, “While restoring
power was just one part of a massive recovery effort, we are incredibly
proud that we were able to help our partners and their customers in the
aftermath of the hurricane. One of PPI’s seven value charters is thrill
the customer and rise to the challenge. Our team members definitely
rose to the challenge, working diligently to serve our customers most in
need.”

Within the first 24 hours of running continuous operations, PPI
customers were quick to share their gratitude. A customer at
Florida-based electricity company serving central Florida wrote an email
in the days following the delivery of PPI transformers that read, “I
just wanted to take a second to thank you for your efforts in supporting
us! I am grateful for all that you are doing in supporting us to get
transformers shipped and power back on.”

PPI is based in Athens, Georgia, and manufactures overhead, round tank,
and submersible distribution transformers to customers in the US, Mexico
and in the Caribbean. Founded in 1958, Power Partners has produced over
9 million transformers and is a highly regarded name in the transformer
industry.

About OpenGate Capital

OpenGate Capital is a global private equity firm specializing in the
acquisition and operation of businesses seeking revitalization through
growth and operational improvements. Established in 2005, OpenGate
Capital is headquartered in Los Angeles, California, and has a European
office in Paris, France. OpenGate’s professionals possess the critical
skills needed to acquire, transition, operate and build successful
businesses. To date, OpenGate Capital has executed more than 40
transactions ranging from corporate divestitures to turnaround
acquisitions, industry consolidations and other special situation
investments. For more information, please visit www.opengatecapital.com.

About Power Partners

Power Partners, Inc. is a leading manufacturer of overhead distribution
transformers, serving utility, industrial and commercial customers in
North America, Central America, Mexico, the Caribbean and other markets.
More than 9 million transformers have been produced at the company’s
manufacturing facility in Athens, GA, over its 50-year history. Power
Partners offers the shortest manufacturing cycles in the industry and
has a stellar track record of responding to storms with great speed. The
company is ISO 14001: 2008 certified. For more information, please visit www.powerpartners-usa.com.

Contacts

OpenGate Media Contacts
Alanna Chaffin
+1 (310) 432-7000
[email protected]
or
Sitrick
& Company
Mike Sitrick
+1 (310) 788-2850
[email protected]
or
OpenGate
Business Development Contact
Joshua Adams
+1 (310) 432-7000
[email protected]
or
Power
Partners Contact
Scott Childs
+1 (706) 548-3121 Ext 400
[email protected]