October 16, 2006—Power Plus!, a California-based supplier of temporary power, completed a partial acquisition of JT Packard & Associates, Inc. JT Packard, which offers service for all brands and types of network-critical power equipment, such as uninterruptible power supply (UPS) systems, batteries, DC plants, generators, and HVAC, has expanded exponentially in recent years. Since 2003, revenues have increased more than 500%.
According to Jeff Cason, President of JT Packard, “At this stage in our development, it makes sense to partner with an industry veteran. Our significant, sustained growth attracted the interest of numerous investors; Power Plus! appealed to us due to its similar business model and complementary services. In addition, Power Plus! will foster JT Packard’s growth without disruption.” Cason continued, “We are very excited about the potential of this partnership.”
The offices and employees of JT Packard and Power Plus! will continue to function as essentially separate entities.
As a sign of expansion to come, JT Packard is constructing a new headquarters in proximity to its current location in Madison, Wisconsin; the company anticipates doubling both its corporate and national operations by 2011. Phase I of the new construction is slated for completion in October 2007.
For more information, visit the JT Packard Web site.
