Power Survey and Equipment Ltd., a Montreal, Canada-based manufacturer of power quality systems, received $24m in Series A2 funding round.
The round was initiated by majority investor EnerTech Capital and Investissement Québec, along with new investors led by Cycle Capital Management, joined by Fonds de solidarité FTQ and BDC Capital.
The company intends to use the funds to support M&A opportunities – including the recent acquisition of Power Standards Lab (PSL) – and drive geographic and product line expansion.
Led by Mario Barbaresso, President and CEO, Power Survey and Equipment provides customized power factor correction and harmonic filtering technologies and solutions. The company serves customers in the United States and Canada, and supports projects around the world through a premium network of agents, value-added resellers and distributors.