Mill Point Capital completed the cquisition of custom electrical products business from Pioneer for $50m.

Mill Point Capital, a private equity firm, that invests in information technology, foam packaging, metal component manufacturing, and facility services industries, completed the cquisition of custom electrical products business from Pioneer, a design, manufacture, service and integration of electrical power systems company, for $50m. The divestiture of our E-Bloc business is another critical step forward in the strategic transformation process we initiated in 2022. Pioneer is now solely focused on the growth of our Critical Power and eMobility business to fuel its larger potential. With additional capital we are well-positioned to continue to advance innovative solutions that address the growing grid gap challenges across the US and capture an ever-growing share of a massive market that has yet to be fully addressed," Nathan Mazurek, Pioneer Chairman and CEO.