MEMPHIS, Tenn. and RALEIGH, N.C., Dec. 14, 2023 (GLOBE NEWSWIRE) -- CES Power LLC (“CES Power” or “the Company”), a leading global provider of sustainable mobile power generation, distribution, and temperature control solutions for large events, today announced that it has acquired Roundrock Technology (“Roundrock”), a provider of scalable IT services to the entertainment industry. CES Power is backed by industrial-focused private equity firm Allied Industrial Partners (“Allied”). Terms of the transaction were not disclosed.
Based in Raleigh, NC, Roundrock is a multi-faceted IT services provider offering design, installation, software development and logistics management for major music festivals, sporting events, and corporate gatherings. Founded 20 years ago as TOURtech, Roundrock has been a pioneer in the industry, setting the bar high as the demands on networks evolve. Roundrock’s co-founders, CEO Allen Cook and COO Shannon Cook, will remain with the Company.
With the acquisition, Roundrock will become an integral part of CES Technologies, CES Power’s specialized technology division. CES Technologies focuses on providing cutting-edge Wi-Fi and network infrastructure, mapping software, and sustainable power solutions tailored for large-scale events. The inclusion of Roundrock's services will bolster CES Technologies' capabilities, offering comprehensive and innovative solutions to enhance connectivity and efficiency and to address the complexity of large scale events. This strategic move signifies a leap forward for CES Technologies in leading the industry with scalable and sustainable event technology solutions.
Jay Henderson, President of CES Technologies, said, "The integration of Roundrock into CES Technologies marks a union of two world-class enterprises. We look forward to reaping the benefits of the synergies created by combining Roundrock's innovative services and CES Technologies’ expertise."
Greg Landa, CEO of CES Power, added, "This acquisition is a testament to our dedication to the live events industry. Merging Roundrock's agility with our infrastructure capabilities amplifies our commitment to excellence and connectivity at large-scale events."
Allen Cook said, "Joining forces with CES Technologies is a thrilling next step for us. We're ready to harness this partnership to foster growth and continue delivering cutting-edge solutions tailored to the dynamic needs of the entertainment sector."
Roundrock is the ninth significant acquisition for CES Power since Allied's acquisition in June 2021, with CES Power actively pursuing further strategic acquisitions.
“In just over two years, CES Power has significantly expanded its breadth and depth of services through both M&A and organic growth, and we are proud to continue to support the Company’s evolution,” said Bradford Rossi and Philip Wright, Co-Founders and Managing Partners at Allied. “This latest acquisition strengthens CES Power’s ability to deliver reliable, seamless infrastructure solutions to event promoters nationwide, and positions the Company to take advantage of the robust demand for live events.”
About Roundrock Technology
Since 2003, Roundrock Technology has been at the forefront of connecting audiences at major events through advanced technology. With services spanning tech asset management, custom deployable systems, and scalable permanent installations, Roundrock excels in enhancing event connectivity and efficiency. Visit https://www.roundrock.technology for further details.
About CES Power LLC
Established in 2000 with headquarters in Memphis, TN, CES Power boasts an extensive history of delivering dependable, secure power solutions across broadcasting, entertainment, and industrial domains. Now, with the integration of Roundrock Technology, CES Technologies emerges as a formidable force in IT solutions for the entertainment industry. For more insights, visit cespower.com and cestechnologies.com.
About Allied Industrial Partners
Founded in 2019, Allied Industrial Partners LLC (“Allied”) is a lower and middle-market private equity firm that thematically invests in high-growth companies within various industrial subsectors, including industrial rentals, manufacturing, distribution, environmental services, and critical infrastructure. Allied seeks to partner with experienced management teams that can benefit from its operational enhancement capabilities and active, hands-on involvement, allowing the firm to execute buy-and-build strategies. For more information, visit alliedindustrialpartners.com.
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