MML Capital to acquire CG Power Systems Ireland.

MML Capital, a private equity firm, agreed to acquire CG Power Systems Ireland, the manufacturer of distribution transformers. Financial terms were not disclosed. The investment is subject to approval from the Competition and Consumer Protection Commission. “First and foremost, it provides the business with stability, following a period of uncertainty with difficulties in the Avantha / CG Group. It gives the business a strong institutional backer, providing security to our dedicated team and confidence to our valued employees, customers and supplier base. We intend to use this backing to invest further in our Cavan facility and broaden our international product and market expansion,” Stephanie Leonard, CG Power Ireland MD.