Madison River Capital (“MRC”), a lower middle market private equity firm, today announced a strategic investment in Nexus Power (the “Company”), a manufacturer representative and provider of design, engineering, procurement, and project management solutions for integrated high-specification power systems. The investment will support Nexus Power’s geographic expansion, targeted acquisitions in design engineering, and team growth, as the Company capitalizes on accelerating demand for power infrastructure across data centers, utilities, and industrial end-markets. Terms of the transaction were not disclosed.
Headquartered in Salt Lake City, Utah, Nexus Power serves customers across government, utilities, data centers, mining, oil and gas, and semiconductor manufacturing. The Company operates through two segments: a Commissions business generating revenue under exclusive territory agreements with tier-one manufacturers, and a Solutions business managing end-to-end coordination of low to high voltage gear, engineering partners, and delivery logistics. The Company is differentiated through its embedded electrical design engineering capability which is integrated directly into the sales process, enabling customers to specify the right equipment, navigate emerging technologies, and develop long-term power infrastructure plans with a single accountable partner. Nexus Power is ABB’s exclusive manufacturer representative across 11 Western and Mid-Western states, a relationship spanning more than 20 years, and partners with Hitachi and approximately 20 other electrical equipment manufacturers.
Under MRC’s ownership, Nexus Power will pursue geographic expansion, broaden its manufacturer partnerships, and execute a targeted growth strategy to significantly expand its platform and capabilities in service of its customers. The Company is well positioned to capitalize on the broad megatrend of electrification, driven by grid modernization, artificial intelligence infrastructure, data center buildouts, and the reshoring of industrial manufacturing. These secular tailwinds are accelerating demand for the kind of high-specification, end-to-end power solutions Nexus Power is built to deliver. MRC will work closely with the Nexus Power leadership team to pursue these many opportunities with a shared commitment to a customer-first approach, disciplined and sustainable growth, and long-term value creation.
“This partnership with Madison River Capital marks an important milestone for Nexus Power,” said Pete Jones, President and CEO of Nexus Power. “We have built a business that is differentiated across our manufacturer relationships, our technical depth, and our ability to deliver end-to-end solutions. This investment gives us the capital and strategic support to scale faster than we could on our own. Madison River Capital has the expertise to appreciate what we have built and where the market is going, and they share our commitment to realizing the full potential of our platform at this exciting moment in our industry.”
“I am thrilled that Nexus Power is partnering with Madison River Capital at this time of tremendous opportunity for the business,” said Rich Haag, Co-Founder and Board Member of Nexus Power. “They are deeply experienced investors and collaborative partners who share our vision for the future and will help us reach our full potential. I look forward to supporting Pete and the team to achieve all that we can in this next chapter.”
This investment marks MRC’s second in the high-specification electrical infrastructure space, following its successful investment in JDC Power Systems, a leading electrical systems integrator exclusively serving the data center market.
“Nexus Power has demonstrated exactly the kind of execution in a sector with strong tailwinds that we look for in our portfolio companies,” said David Wittels, Managing Partner of Madison River Capital. “Pete and his team have built a business with a strong team, loyal customers across the value chain, a unique approach to the market, and a clear path to continued scale. We know how critical it is to have the right technical and commercial capabilities in place to serve this market, and have high conviction in what Nexus Power has built and in the opportunity ahead of them. We are excited to partner with them as they enter this next stage of growth.”
“Nexus Power has earned its growth through genuine expertise and a differentiated approach that customers rely on across the entire buying process,” said Matthew Clancy, Managing Director at Madison River Capital. “We believe there is a significant opportunity ahead to build on that momentum, and we look forward to working alongside Pete and his team to capture it.”
Holland & Knight LLP served as legal advisor to Madison River Capital. Paul Hastings LLP served as legal advisor to Nexus Power and Bundy Group served as exclusive financial advisor to Nexus Power. Main Street Capital served as debt financing partner to the transaction.
“We are pleased to partner alongside Madison River Capital in Nexus Power’s next chapter of growth,” said John Watson, Managing Director at Main Street Capital. “The Company’s strong platform and talented management team made this a compelling opportunity, and we look forward to supporting their vision.”
About Nexus Power
Nexus Power is a manufacturer representative and provider of design, engineering, procurement, and project management solutions for integrated high-specification power systems. Formed in 2022 through the merger of two established manufacturer representatives and headquartered in Salt Lake City, Utah, the Company serves customers across the government, utilities, data center, mining, oil and gas, commercial, and semiconductor end-markets. An ABB-approved selling supplier with exclusive territorial agreements across 11 Western and Mid-Western states, Nexus Power also partners with Hitachi and approximately 20 other electrical equipment manufacturers. For more information, visit nexuspower.com.
About Madison River Capital
Madison River Capital (MRC) is a lower middle market private equity firm that invests across a variety of industries, with a focus on healthcare services, industrials, business services, and infrastructure. It partners with founders and management teams to enhance business growth and drive sustainable value creation. MRC was formed through the spin-out of the corporate private equity investment team of Jefferson River Capital, the family office of Tony James. It is comprised of 14 investment professionals and operating executives with extensive experience and a decade-long history of collaboration. For more information, please visit www.mrivercapital.com.
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