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FirstPower Group LLC Retains TekMark Growth Partners to Provide Acquisition Due Diligence & Market Development Consulting Services
Cleveland, OH, January 23, 2008 – First Power Group LLC recently purchased the high voltage circuit breaker reconditioning business operating within the Cardinal Pump division of Unifin International. To further justify the acquisition, First Power Group employed technical business consulting services from TekMark Growth Partners.
Working closely with First Power Group’s management, TekMark Growth Partners conducted broad market quantitative research, competitive analysis and extensive qualitative and primary research with numerous industry decision makers across a variety of electric utilities. The results confirmed electric utility equipment business and technical dynamics, assessed market needs and identified potential lead users for the newly formed utility equipment services group.
Jack Harley, First Power Group’s CEO commented “information and recommendations obtained from Tekmark’s acquisition due-diligence and overall business development services were instrumental in our decision to acquire Cardinal Pump’s high-voltage circuit breaker service business. In addition, TekMark’s services enabled us to identify and prioritize which electric utilities to contact for our new service offerings, thereby enhancing our ability to grow the business from day one of the acquisition.”
David Klein, a principal consultant with TekMark added “based on our analysis, First Power Group is ideally positioned to take advantage of the electric utility industry’s expanded need for equipment support services. Electric utilities are increasingly focusing their efforts on improved safety and reliability, building new infrastructure, and reducing outages. These dynamics, along with experienced utility maintenance personnel retiring and America’s growing energy needs, are resulting in a high demand for outsourced equipment support services including the maintenance & reconditioning of high voltage transmission circuit breakers.”
About FirstPower Group LLC
FirstPower Group LLC is an engineering and equipment services company focused on maintaining and upgrading high voltage switching devices and compressors used by electric utilities to control the flow of power. Formerly part of J.W. Harley Inc. (Harley), FirstPower offers a full range of services including repairs, conversions, modifications, and upgrades that increase the reliability and extend the life of switching devices and compressors. A substantial parts inventory, specialized SF6 insulating gas handling equipment, laser leak detection instruments and a full service machine shop provide the capabilities to service multiple circuit breaker brands and sizes.
About TekMark Growth Partners
TekMark Growth Partners Ltd., www.tekmarkgp.com, is a leading technology, marketing and strategic management consulting firm. We help technology and engineered product based companies grow through a variety of proven processes and programs focused on new business development, new product development, technology commercialization, channel management, technical research, competitive analysis and overall strategy development. In addition to the energy industry, other focus market and product areas include aerospace, semiconductor, MEMs devices, nanotechnology, electronics, electro-optics, photonics, sensors, thin film processing equipment, test & measurement systems, and other similar technology devices, equipment and industries.
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