Hartselle, AL and Houston, TX July 02, 2025
Supports Leading Provider of Electric Utility Maintenance and Construction Services in its Mission to Address Growing US Power Demand and Needed Grid Improvements
The Sterling Group completed the sale of PowerGrid Services (“PowerGrid” or the “Company”) to Apollo (NYSE:APO). PowerGrid is a leading provider of maintenance and construction services to electric utilities across the United States. Existing investors, including The Sterling Group and management, will partner with Apollo to support the Company’s continued growth.
PowerGrid keeps the lights on across America by delivering essential utility services—from routine construction and maintenance to emergency response. With over 1,700 skilled in-house professionals and thousands more through its national vendor network, PowerGrid brings scale and speed to utility customers nationwide. Its hybrid service model supports construction, repair and maintenance of the full power grid, including transmission, distribution, substations and vegetation management. The Company’s safety-first culture and reliability has made it a go-to partner for grid modernization and resilience efforts in over 35 states.
Lincoln International acted as financial advisor to PowerGrid and its shareholders and Stifel acted as financial co-advisor while Kirkland & Ellis LLP served as legal counsel.
J.P. Morgan Securities LLC acted as financial advisor to Apollo on the transaction, while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.
About PowerGrid Services
PowerGrid is a national provider of mission-critical electric utility services, offering a uniquely integrated platform across planned infrastructure work and rapid emergency response. Leveraging a hybrid service model that combines an in-house team of more than 1,700 skilled professionals with access to thousands of additional resources through our national vendor network, the company is built to respond quickly and safely when it matters most. PowerGrid supports the full electrical infrastructure lifecycle, providing construction, repair, and maintenance from distribution and transmission to substations and vegetation management. The Company’s commitment to safety and service excellence has made it a trusted partner for grid modernization, hardening, and event response to investor-owned utilities, municipalities, and co-ops across 35 states.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit www.apollo.com.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity investment firm that targets investments in manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 74 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has over $9 billion of assets under management. For further information, please visit www.sterling-group.com.
Past performance is no guarantee of future results and all investments are subject to loss.
Press releases and articles published prior to November 4, 2022 are being provided for informational purposes only and are not intended as advertising.
The Sterling Group is an operationally focused middle market private equity firm that builds winning businesses for customers, employees and investors.
PRIVACY NOTICES/TERMS OF USE/Website Privacy Policy
© 2026 The Sterling Group.All rights reserved.