ASCO Load Bank is now
Avtron Power Solutions

Hidden Harbor Capital Partners Acquires Avtron Power Solutions in 13th Platform Acquisition


Boca Raton, Florida, October 27, 2022 – Hidden Harbor Capital Partners (“Hidden Harbor”), an operationally focused private equity firm specializing in control investments in lower middle market companies, is pleased to announce the acquisition of Avtron Power Solutions, including the Avtron and N.J. Froment brands. Avtron Power Solutions is the global market leader in the design and manufacture of Load Banks— a critical solution for the testing and measurement of backup power systems— and serves the largest multinational organizations requiring uninterruptible power. The transaction carves out Avtron Power Solutions from the ASCO Power Technologies division of Schneider Electric (SU:FP). 

Based in Cleveland, Ohio, Avtron Power Solutions has been the market leader in load bank technology and manufacturing for over 50 years. Through decades of maintaining a strong reputation for industry-leading quality and flexibility to meet unique customer specifications, Avtron has become the provider of choice for the world’s healthcare facilities, data centers, government, equipment rental companies, generator OEMs, new energy landscape and power generation companies. The company’s engineering, configuration, and manufacturing expertise, as well as its proprietary SIGMA control platform, has sustained its market position and made it the partner of choice to ensure the reliability and performance of its customers’ backup power solutions. 

“As a firm, we are very optimistic about the tailwinds supporting demand for reliable backup power systems, and about the opportunity to execute on several growth opportunities for Avtron Power Solutions as a standalone business. We look forward to supporting the company’s continued growth and strong customer relationships,” said Christopher Paldino, Managing Partner at Hidden Harbor. 

“We look forward to partnering with management to execute a comprehensive carve-out and growth strategy. We believe that with Avtron Power Solutions’ expertise and Hidden Harbor’s resources, there is a clear path to achieve significant growth in key end markets and to expand the footprint globally,” said Russell Kreutter, Principal at Hidden Harbor.  

“It was essential for us to find a partner with deep carve-out experience and one who shares our core values and vision for growth. I could not be more excited to partner with Hidden Harbor to usher in a new era in our rich history. We are especially excited to work with Hidden Harbor’s portfolio operations group, which has a proven track record of executing corporate carveouts and helping companies execute at all levels of the organization,” said Bhavesh Patel, CEO of Avtron Power Solutions. 

Hidden Harbor’s acquisition of Avtron Power Solutions closed on September 30, 2022. Czech Asset Management, L.P. provided financing for the transaction.  Configure Partners served as financing advisor to Hidden Harbor.  Raymond James served as financial advisor to Hidden Harbor. Alix Partners served as financial advisor to Schneider Electric. Terms of the transaction were not disclosed.  


About Schneider Electric 

Schneider Electric S.E. (SU:FP) provides energy and automated digital solutions worldwide. Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. At Schneider, we call this Life Is On. 

About Hidden Harbor Capital Partners 

Hidden Harbor Capital Partners is a private equity firm which helps create business success stories by building teams focused on execution.  We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives.  Hidden Harbor currently manages over $700 million of equity capital and is investing out of its second fund, a $450 million vehicle.  To learn more, visit and our page on LinkedIn. 


Media Contact 

Julia Bennett: (904) 534-4468 / 

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