Gravity Power and Rental, a provider of critical power generation and equipment rental infrastructure solutions, announced Aug. 4 that the company has been acquired by Firefly Capital Management and its affiliates. Gravity operates a fleet of more than 2,000 mobile power generation units, together with a complementary portfolio of rental equipment, including fluid management, light towers, pumps and heaters. The Company’s more than 275 employees serve thousands of sites across 13 states, delivering power as a service for microgrids and onsite operations across energy, industrial, and digital infrastructure end markets.
“We spent the last several months looking for the right owner to continue the momentum in our mobile power and rental business, and Firefly is that partner,” said Rob Rice, President and CEO of Gravity. “Firefly is a long-term owner focused on energy and critical infrastructure. They believe in our people and in our mission: customer focused, reliable, efficient, and safe power and rental infrastructure solutions.”
“The Gravity team has built an industry reputation, fleet, safety record, and customer relationships that took years in the field to earn,” said Jon Doochin, Partner of Firefly Capital Management. “Our goal with Gravity is to invest in its people for the long term. Demand for reliable onsite power is expanding rapidly, and Gravity has the fleet, the people, and the customer track record to continue to be a market leader.”
“Gravity has earned its reputation one deployment at a time,” said Jakob Blomqvist, Partner of Firefly Capital Management. “This team delivers for its customers every day, and we are proud to back them.”
Gravity will continue to operate under its name and brand, led by Rob Rice and the existing management team.
Davis Graham & Stubbs LLP served as legal counsel to Firefly. Piper Sandler & Co. served as financial advisor and Vinson & Elkins LLP served as legal counsel to the sellers.
About Gravity
Gravity is a leading provider of critical power generation and equipment rental infrastructure solutions. The Company operates a fleet of more than 2,000 natural gas and diesel power generation units, alongside fluid management and other rental equipment to a wide variety of end markets across the United States. Gravity delivers customer focused, reliable, efficient and safe power and rental solutions for microgrids, onsite operations and the direct power and rental needs of its customers. For more information, visit www.gvty.com.
About Firefly Capital Management
Firefly Capital Management is a private investment firm focused on building and financing companies in critical infrastructure, including energy and healthcare. As a long-term owner, Firefly partners with management teams to build and scale exceptional companies.
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