PE-backed Legend Corp eyes $30b power pipeline in buyout

The private equity-owned Legend Corp has acquired a business supplying high-voltage equipment to energy utilities as it positions for growth in a sector where up to $30 billion in spending is projected around Australia as the energy grid transforms.

Legend Corp, which is owned by Adamantem Capital, has agreed to buy the Acculec operations based in Brisbane, which has revenues of about $30 million. Acculec has been owned for the past six years by private equity company Anacacia Capital. 

Acculec specialises in the sourcing, manufacture and distribution of quality branded products, consumables and services mainly to owners of electricity transmission, distribution and storage assets, as well as industrial and commercial customers.

Serving Australian Utilities since 2002 with Engineered solutions, Legend Power Systems supplies a wide range of electrical connectivity, specialist tools, jointing and electrical safety products to meet the diverse requirements of overhead and underground power transmission and distribution.

Source: AFR