Hanover Partners and Greyrock Capital completed the acquisition of Powertronix.

Hanover Partners and Greyrock Capital, two private equity firms, completed the acquisition of Powertronix, a developer of power product solutions. Financial terms were not disclosed. “As part of our thirty-year focus on niche manufacturers and industrial technology businesses, Hanover had identified attractive 'sticky' customer retention dynamics present in engineered-product developers providing essential componentry to medical device OEMs. Several years ago, we were privileged to meet the talented Powertronix team and we are delighted to have recently consummated a partnership with the business. Linda has done a fantastic job building Powertronix the last several years; and, under her continued leadership as CEO, we plan to make significant investments to support the substantial growth the company is experiencing with its impressive list of customers, and to scale Powertronix’s leading power-product solutions to new customers,” Aaron Aiken, Hanover Managing Partner.