PDI Acquires Onyx Power update from September 2008

Power Distribution, Inc. (PDI) has acquired Onyx Power, Inc. a leading maker of  custom power magnetics and power distribution equipment for the data center, the two companies said today. PDI, which makes power distribution and voltage regulation products, is based in Richmond, Va. and was acquired by Bertram Capital in April 2007. Financial terms of the PDI-Onyx deal were not disclosed.

"The addition of Onyx will strengthen our platform's competitive positioning in the marketplace by giving us now a third manufacturing center located in California, complementing our Michigan and Virginia facilities," said Bertram Capital Managing Director Jeff Drazan. "It will provide enhanced customization capabilities, deeper design expertise, shorter lead times, enhanced logistics, and new product opportunities, making PDI the undisputed leader in the power distribution equipment industry."

"PDI is the logical company for us to join forces with," said Onyx Power principal Jeff Wiederkehr. "We are looking forward to working with the team at PDI and are very excited about the many opportunities available to the combined entity."

Onyx Power was formed in 2005 through a management buyout of the magnetics division of MGE UPS Systems Inc. (which was acquired by Schneider Electric). Bertram Capital Management is a private equity investment firm in San Mateo, Calif. with $350 million in capital under management.