Power Grid Components, a Blackstone portfolio company, announced that it has acquired Allied Bolt Inc., one of the leading global suppliers of outside plant hardware for the electrical utility and telecommunications industries.
Headquartered in Port Chester, New York, Allied Bolt was previously owned by Glen Malin, who has led the business as president since 2002 and will remain its president on a go-forward basis. The Malin family has run Allied Bolt since founding the company in 1955.
"The Power Grid Components team is thrilled to welcome Allied Bolt and Glen Malin into PGC’s portfolio of companies," said Rick McClure, CEO and founder of Power Grid Components. “Glen Malin and his team have built a trusted brand over several decades, developing a well-earned reputation for product quality, reliability, and customer service.
"With our significant experience in various segments of the value chains relevant to Allied Bolt, we are excited to help Allied Bolt take the next step in their growth journey and continue to deliver high-quality products that bring high speed data, digital services, and electrical power to customers across the United States.”
“I am very excited to formally join the Power Grid Components family,” said Malin. “I have known and respected Rick McClure and the PGC team for many years. As I considered options to take Allied Bolt to the next level, I concluded that PGC was the perfect fit for the business, given PGC’s approach towards improving and investing in businesses and strengthening their quality, reach and customer service.
"I am energized and excited to work for PGC to further grow Allied Bolt and continue to provide world-class service to our customers. I would also like to offer my deep-felt appreciation to our dedicated employees, sales representatives, distributors, suppliers, and especially our customers for your unwavering support, trust, and loyalty to Allied Bolt for seven decades.”
Power Grid Component’s acquisition of Allied Bolt reflects the favorable end market trends in both broadband infrastructure and the electric utility industries. Allied Bolt has capitalized on these trends in recent years, demonstrating strong growth as demand for its products have increased, driven by customers’ investments to expand and upgrade broadband infrastructure and the electrical grid.
