Kohlberg & Company backed Myers EPS acquires Storage Power Solutions

CPE News

CPE News (1.18.2024) – Myers Emergency Power Systems (Myers EPS), a portfolio company of Kohlberg & Company, LLC, has acquired Storage Power Solutions (SPS), a leading provider of battery energy storage systems (BESS). SPS will be rebranded under Myers EPS. Financial terms were not disclosed.

Founded by Laszlo Lakatos-Hayward and Mike Oreskovic, Whitby, Ontario based Storage Power Solutions designs, manufacturers and distributes Lithium-iron-phosphate (LFP) based battery energy storage.

Bethlehem, PA, Myers EPS is a leading designer and manufacturer of highly engineered emergency lighting backup power technology.

In August 2021, Kohlberg & Company, LLC, in partnership with CEO John Daly, acquired Myers EPS from Graham Partners which retains a significant ownership position.

photo credit:Storage Power Solutions

News Release

MYERS EPS ANNOUNCES TRANSFORMATIVE ACQUISITION OF BATTERY ENERGY STORAGE SYSTEMS PROVIDER STORAGE POWER SOLUTIONS

Launches EnerShed™, a Dedicated Line of Battery Energy Storage Systems (BESS) Products

BETHLEHEM, Pa. – January 17, 2024 – Myers Emergency Power Systems (“Myers EPS”), a leading designer and manufacturer of highly engineered emergency lighting backup power technology, today announced the acquisition of Storage Power Solutions (“SPS”), a leading provider of battery energy storage systems (BESS), with proprietary, scalable technology serving the commercial and industrial, utility, and EPC end markets. SPS will be rebranded under Myers EPS.

With the acquisition of SPS, Myers EPS is accelerating its expansion and capabilities in high growth, regulatory-driven, energy efficiency categories that will enable its customers to drive meaningful energy cost savings through clean, renewable energy usage. As part of the transaction, Myers EPS is also launching its EnerShed™ product line, a smart energy storage solution with scalability starting from 60kW and capabilities to serve all end market environments. EnerShed reduces customers’ reliance on the energy grid, manages energy usage and pricing fluctuations, and ultimately decreases energy costs. Additionally, EnerShed meets the compliance requirements for California’s Title 24 solar plus storage regulations.

“We are extremely excited about our acquisition of SPS and the best-in-class design expertise the SPS team brings to the Myers EPS organization,” said John Daly, CEO of Myers EPS. “Likewise, we are thrilled to launch EnerShed, which is highly customizable and possesses unique product capabilities. We have one of the most flexible systems on the market, allowing us to meet a broad spectrum of customer needs including retrofitting power systems. As we look ahead, we plan to partner with a wide range of go-to-market channels, including solar installers and EPC contractors, to offer reliable and safe systems.”

Utilizing the full suite of Myers EPS’ proprietary technology, EnerShed offers a comprehensive feature set, making it the most powerful and safe energy storage solution available in the market.

“We are very excited that SPS has joined the Myers EPS family as we have a shared focus on innovation, quality, safety, and customer service,” said Laszlo Lakatos-Hayward and Mike Oreskovic, founders of SPS. “The combined forces of our two organizations, along with the launch of EnerShed creates a unique product offering serving the most pressing energy needs of our customers.”

EnerShed represents a BESS with the highest energy density, lowest operating costs, and smallest footprint. This Analog Intelligent storage technology allows customers to maximize return on investment, supporting many use cases including peak shaving, time-of-use savings (energy arbitrage), net-metering/revenue generation, demand response, and back-up power. Visit https://bess.myerseps.com/ for more information on this exciting new offering.

About Myers EPS

Myers EPS is at the forefront of innovation, offering integrated technology solutions mandated by building and construction safety codes to mission-critical industries, including education, data centers, government buildings, distribution warehouses, and healthcare centers. We serve over 10,000 customers globally across our extensive product lineup, which encompasses centralized and mini inverters, and our products ensure that critical infrastructure settings receive uninterrupted power during outages. Trust Myers EPS to safeguard your mission-critical operations with unwavering reliability and safety. For more information, visit www.myerseps.com.

Contact

For Myers EPS:
Becky Gagliardi
becky.gagliardi@myerseps.com