Sensing a trend for increased measurement and control applications in the power grid, Falfurrias Capital Partners and industry veteran Dave Pacyna have made Instrument Transformer Equipment Corp. (ITEC) the first acquisition for their new investment platform, North American T&D Group.
“There is a solid underlying thesis for growing demand for instrument transformer products,” said Dave Pacyna former CEO of Siemens’ North American T&D divisions and current CEO of the new venture with Falfurrias. “With the expanding use of real time data collection and automated control & protection schemes in both the transmission and distribution networks, there will be a natural rise in the need for instrument transformers.”
ITEC, based in Charlotte, North Carolina, has been in business since 1993 and manufactures a broad range of both oil-filled and dry type instrument transformers designed for use in high accuracy applications like metering, data collection, and control/protection. The company’s founders, John Cochran and Paul Millward, will remain actively involved in the business.
North American T&D Group is seeking to make additional investments in T&D product businesses which enable the safe, reliable, efficient operation of a modern power grid. The terms of the ITEC deal were not disclosed.