Pittsburgh private equity sponsor Regent Square Capital and Houston PE firm Galtney Partners have acquired Generator Source LLC. Formerly known as Diesel Service and Supply, the company is a sales and service provider of commercial standby generators and related services in Colorado and Southern Wyoming.
Galtney and Regent Square acquired Generator Source from founder and owner, Ed Vecchiarelli Sr., as part of an overall business succession and growth strategy. Vecchiarelli will continue to serve as a senior adviser to the company.
Under the new ownership, Generator Source hopes to expand its geographic footprint and existing sales channels while maintaining its focus on customer satisfaction and retention.
Kyle Brengel, a partner at Regent Square who now serves as COO of Generator Source stated, “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.”
Regent Square specializes in making investments in middle-market and lower-middle-market businesses that are owned and operated by their founders.