Galtney Partners and Regent Square Capital led the acquisition of Generator Source LLC, formerly known as Diesel Service and Supply. Based in Brighton, Colo., Generator Source is a provider of commercial standby generators and related services. Galtney and Regent Square acquired the company from founder and owner, Ed Vecchiarelli Sr., as part of an overall business succession and growth strategy for the company. Vecchiarelli Sr. will continue to serve as a senior advisor to the company.
"Generator Source is a respected leader in a fast-growing, highly fragmented industry and we are excited to be a part of the next chapter of the company's success," said Rob Galtney, president of Galtney Partners. "The new partnership will combine their exceptional industry expertise with added resources that will further strengthen and expand Generator Source's position in the sector and will allow the company to achieve rapid growth and value creation."
Eddie Vecchiarelli, Jr., CEO of Generator Source, added, "We are excited to partner with Galtney and Regent Square. They share Generator Source's long-term vision to expand its geographic footprint and existing sales channels while maintaining its focus on customer satisfaction and retention. We are confident that the new partnership can build on Generator Source's legacy and allow Generator Source to realize its next stage of growth."
Kyle Brengel, partner at Regent Square who now serves as COO of Generator Source said, "As a veteran-owned private equity sponsor, Regent Square is keenly interested in building teams that share our values and that are dedicated to achieving principled, sustainable growth. This partnership between Galtney, Regent Square and Generator Source brings together highly compatible leadership to execute a compelling investment thesis that will be transformative in the aftermarket commercial generator industry."
Founded in 1981, Colorado-based Generator Source specializes in late model, low-hour commercial standby generators, ranging from 20kW to 4MW.