One Equity Partners Completes Investment, Acquisition of EthosEnergy
EthosEnergy provides aftermarket maintenance, repair, and overhaul, as well as outsourced operations and maintenance to power generation and industrial customers.
One Equity Partners (OEP) finalized its investment in EthosEnergy, which employs more than 3,600 people across 23 global sites and facilities and three divisions: optimized solutions, operations and maintenance (O&M), and aerospace and defense maintenance, repair, and overhaul (MRO). It provides aftermarket MRO in addition to outsourced operations and maintenance for power generation and industrial customers operating industrial gas turbines and related complex equipment.
“EthosEnergy is uniquely positioned to meet the growing maintenance needs of an aging turbine fleet," said Ante Kusurin, Partner at One Equity Partners. "We are excited to partner with a strong management team and talented employees to help accelerate the company’s growth in a market experiencing strong secular tailwinds.”
The company is a rotating equipment service provider focused on the power generation, energy, industrial, and aerospace and defense markets. EthosEnergy was established in 2014 as a joint venture between John Wood Group and Siemens Energy AG, each contributing their non-OEM rotating equipment business lines and intellectual property.
“As we seek to enhance and grow our operations, we believe One Equity Partners is the right partner for us as we enter our next phase of growth,” said Ana Amicarella, CEO of EthosEnergy. “OEP’s longstanding, deep industrial sector expertise will support EthosEnergy as we serve growing needs in a critical industry.”
More EthosEnergy News
In December 2024, EagleBurgmann and EthosEnergy signed an agreement to support joint customers with compressor solutions: installation, upgrades, and emission reduction projects. The partnership will enhance both companies’ service offerings and assist customers with their operational and environmental requirements. EthosEnergy contributes its seal system design, project management, and compressor maintenance capabilities to provide reliable, efficient solutions customized for specific project needs. The company will utilize EagleBurgmann’s advanced seal technology and installation services to create a wholesale solution for customers.
EagleBurgmann focuses on industrial sealing technology, providing a range of products and services such as:
- Dry gas seals
- Mechanical seals
- Seal supply systems
- Magnetic couplings
- Carbon floating ring seals
- Expansion joints
In November, EP Produzione awarded EthosEnergy a multi-million-euro contract to retrofit its Trapani Thermoelectric Power Plant (TTPP) in northern Sicily. As the project unfolds, EthosEnergy will focus on integrity improvements for Unit 1 such as the replacement of exhaust systems and other auxiliary equipment. Over 10 years ago, the plant received a major overhaul: the original OEM partially converted two Frame 9B gas turbines into Frame 9E units. Wear and tear have accumulated on the exhaust system and other components due to harsh operating conditions since then, and now upgrades and modifications must be installed.
TTPP—formerly a dual fuel-fired power plant with natural gas and diesel oil—is now a 213-MW facility equipped with two open-cycle gas turbines, delivering emergency power supply and additional services for Sicily’s electricity grid. Italy’s Grid Authority recently supported the plant’s “Must Run” status and approved the first phase of its asset integrity project, primarily due to its strategic location. The plant is operated by EP Produzione and features a customized configuration specific to the site.
