Core Insights - Apollo Funds have agreed to acquire a majority stake in PowerGrid Services (PGS), a leading provider of electric utility maintenance and construction services in the US, to support its growth in response to increasing power demand and necessary grid improvements [1][3] Company Overview - PowerGrid Services (PGS) provides essential utility services, including routine construction, maintenance, and emergency response, with over 1,400 skilled in-house professionals and a national vendor network [2][5] - PGS operates a hybrid service model that supports the entire power grid lifecycle, including transmission, distribution, substations, and vegetation management, and has established a safety-first culture [2][5] Strategic Goals - The partnership with Apollo is expected to enhance PGS's capabilities and growth while maintaining its commitment to safety and reliable service [3] - Apollo aims to leverage its resources to accelerate PGS's geographic expansion and targeted acquisition strategy, positioning PGS to meet the growing demand for power and contribute to grid stability [3] Historical Context - The Sterling Group has supported PGS since 2021, helping the company triple in size and deliver critical electric grid services [3][8] Financial Advisory - J.P. Morgan Securities LLC acted as the financial advisor for Apollo Funds, while Lincoln International served as the financial advisor for PGS and its shareholders [4]