Bahrain - Global investment firm Investcorp has announced the sale of its investment in RESA Power (RESA), a major provider of electrical testing, transformer services, and life extension solutions for power distribution equipment.

The buyer is Kohlberg, and the transaction marks the first successful exit for Investcorp’s North American Private Equity Fund I.

Since Investcorp’s initial investment, RESA has seen its revenues more than quadruple. The company now serves thousands of commercial and industrial clients, utilities, and data centres across North America. During Investcorp’s ownership, RESA significantly boosted its organic growth and expanded its reach and service offerings through strategic mergers and acquisitions.

Investcorp executive chairman Mohammed Alardhi highlighted the importance of the US market in the firm’s growth strategy since 2015. “Our expertise in private markets in the United States has once again delivered outstanding results,” he said. “This success validates our investment strategy and the talent of our team. We aim to continue this globally across our private equity business.”

Investcorp acquired RESA in 2021, and since then, the company has grown its revenues approximately fourfold, now serving a vast customer base across 14 states and provinces in North America. A key element of this growth was an enhanced national accounts strategy and the completion of 14 strategic acquisitions that broadened RESA’s service portfolio and geographical presence.

Notably, RESA, under Investcorp’s ownership, also implemented an employee ownership programme, granting equity to all eligible employees. This initiative, a first in the electrical power industry, has contributed to a reduction in employee turnover by over 10 per cent, as employees directly benefit from the value they help create.

Investcorp global head of distribution Yusef Al Yusef described the sale of RESA as a “tremendous outcome” for investors. He emphasised that it validates their strategy of growing industrial services businesses through investments in digitisation, internal infrastructure, strategic M&A, and talent development. “The RESA team fully embraced our vision and is well positioned for continued success,” he added.

RESA Power chief executive Scott Harrison praised Investcorp as a “value-added partner” from the outset. He noted that together, they established the foundation for RESA’s digital transformation, including the introduction of AI-driven tools like Power Pulse for asset maintenance monitoring. Harrison also credited Investcorp’s guidance in creating a successful blueprint for mergers and acquisitions, which accelerated the company’s value creation plan.

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