OpenGate Capital Portfolio Company, Power Partners, Inc., Names Mr. Koben Miceli as Chief Executive Officer

Tenured Operating Executive with More Than 20 Years of Experience
Brings Global Operations Management Skills to Transformer Business

LOS ANGELES & ATHENS, Ga.–(BUSINESS WIRE)–OpenGate
Capital, a global private equity firm, announced today in a joint
statement with its portfolio company, Power Partners, Inc. (“PPI”), a
US-based manufacturer of distribution transformers, that PPI has
appointed Mr. Koben Miceli as Chief Executive Officer, effective
immediately.

Miceli is a results-oriented operating executive with a solid background
in global operations management and a demonstrated track record in
turnaround situations that have led to improved customer experiences and
business growth. Miceli was previously with Dematic Corporation as
Executive Vice President of Global Operations and had been promoted from
the positions of Senior Vice President of Global Procurement and Vice
President of Operational Excellence and Strategy. Prior to Dematic,
Miceli has held senior operations positions with Nexeo Solutions as
Director of Supply Chain Management, Catalent Pharma Solutions as
General Manager, and Honeywell Corporate and Aerospace with the most
recent title of Senior Director, Manufacturing Globalization Strategy.

“We are excited to have Koben join PPI as our new CEO,” said Desmond
Nugent, Principal at OpenGate Capital responsible for the operations of
the firm’s North American investments. “Koben’s track record of
energizing teams, driving operational effectiveness and creating value
makes him an ideal fit. We are confident he will infuse focus,
enthusiasm and innovation at PPI.”

“PPI has a well-established platform to build upon and grow,” said
Miceli. “I am thrilled to join the team and work to strengthen PPI’s
product and services while maintaining our position as a leader in
bringing the highest quality distribution transformers to our customers
in all of our many communities.”

PPI is based in Athens, Georgia and manufactures overhead, round tank,
and submersible distribution transformers to customers in the US, Mexico
and in the Caribbean. Founded in 1958, Power Partners has produced over
8.9 million transformers and is a highly regarded name in the
transformer industry.

OpenGate Capital acquired PPI in 2016 through the firm’s first
institutional fund, which also holds Hufcor, EverZinc, Alfatherm, Bois &
Matériaux, and Energi Fenestration Solutions in its global investment
portfolio.

About OpenGate Capital

OpenGate Capital is a global private equity firm specializing in the
acquisition and operation of businesses seeking revitalization through
growth and operational improvements. Established in 2005, OpenGate
Capital is headquartered in Los Angeles, California and has a European
office in Paris, France. OpenGate’s professionals possess the critical
skills needed to acquire, transition, operate and build successful
businesses. To date, OpenGate Capital has executed more than 40
transactions ranging from corporate divestitures to turnaround
acquisitions, industry consolidations and other special situation
investments. For more information, please visit www.opengatecapital.com.

About Power Partners

Power Partners, Inc. is a leading manufacturer of overhead distribution
transformers, serving utility, industrial and commercial customers in
North America, Central America, Mexico, the Caribbean and other markets.
More than 8.9 million transformers have been produced at the company’s
manufacturing facility in Athens, GA, over its 50-year history. Power
Partners offers the shortest manufacturing cycles in the industry and
has a stellar track record of responding to storms with great speed. The
company is ISO 14001: 2004 certified. For more information, please visit www.powerpartners-usa.com.

Contacts

OpenGate Media Contacts
Alanna Chaffin, +1 (310) 432-7000
[email protected]
or
Sitrick
& Company
Mike Sitrick, +1 (310) 788-2850
[email protected]
or
OpenGate
Business Development Contact
Joshua Adams, +1 (310) 432-7000
[email protected]
or
Power
Partners Contact
Scott Childs, +1 (706) 548-3121 Ext 400
[email protected]