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US-based manufacturer and distributor of low-voltage transformers for utility, renewable energy, commercial and industrial markets.
Founded in 2019 in Athens, US, Spire Power Solutions L.P. manufactures and distributes single-phase and three-phase low-voltage power transformers for utility, renewable energy, commercial and industrial customers. It sells directly on a B2B basis to utility providers and renewable energy firms. In December 2022, Electric Research and Manufacturing Cooperative, Inc. acquired the company from Mill Point Capital, with terms undisclosed. Its latest round was a USD 65.50 mn Buyout led by Mill Point Capital, and the company plans to expand distribution transformer capacity and enter new markets by 2024.
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