MKD Electric Invests in Powercor Services
BOSTON, MA (June 8, 2021) – MKD Electric, LLC (“MKD”), a full-service industrial automation and electrical service platform, is pleased to announce the acquisition of Powercor Services (“Powercor”), a Power Design & Control Systems Integrator, serving customers across the US. This is the second investment MKD has completed since Hastings Equity Partners (“Hastings”), a preferred capital partner to founders of lower middle market businesses, acquired MKD in January 2021.
Based in Sterling, Virginia, and founded in April 2020, Powercor was established after recognizing the need and opportunity to provide turnkey electrical solutions within the mission critical data center space, from the utility to the server rack. The company has licensed engineers in over 13 states, field-based technicians in six states, and is strategically positioned to support both east and west coast operations. The dedicated team is comprised of decades of cumulative experience in the electrical services industry.
Powercor provides design, engineering, systems integration, testing, commissioning, equipment servicing and retrofit services. A combination of MKD and Powercor will create a scaled national provider servicing rapidly growing, attractive end markets, including data centers, as well as solar and renewables, parcel distribution, and industrial facilities.
“We are exuberant about the rapid growth trajectory of MKD and believe our addition of Powercor’s service offering will add material value for our new and existing data center customers”, said Greg Rzonca CEO of MKD Electric. Chris Payson, Chairman of Powercor Services added, “We are excited about Powercor’s growth prospects as part of the MKD Electric platform and know that our customers and clients will benefit immensely from the additional support of MKD and Hastings”.