Fernweh Group Announces Acquisition of Sun Industrial Group by Calvin Power Services, a Fernweh Group Company
February 28, 2024

SAN JOSE, CA - Fernweh Group LLC (“Fernweh”), an engaged investor in and operator of industrial companies, proudly announces the acquisition of Sun Industrial Group LLC (“SIG”), a mechanical construction support and services provider to the energy and industrial sector. SIG will be a part of Calvin Power Services (“Calvin Power”), a newly established industrial and energy services platform company established by Fernweh to serve the growing and diverse needs of customers in these end-markets. 

The acquisition of SIG provides Calvin Power with a mechanical contractor with a strong brand and reputation in supporting construction projects for energy and industrial companies in the US and Latin America. SIG is well-known among its customers for its exceptional record of safety, quality, and productivity, and ability to deliver complex and schedule-critical megaprojects on an accelerated timeline.  

SIG’s President, Jarrett “Smiley” Smith, expressed enthusiasm about the transaction, stating, “The combination of Sun Industrial Group with Calvin Power signifies the next great chapter in this customer-focused business.  We are excited about the service opportunities with marquee clients and sharing our knowledge and experience with other Calvin Power businesses in the future.  We believe there is a large market for service-focused businesses and the combination with Calvin Power will provide a great foundation and leadership team to support the expansion of SIG and our ability to service businesses nationally. We thank the Fernweh team for the opportunity to grow this business and look forward to working with them.” 

The CEO of Fernweh, Nick Santhanam, added “Sun Industrial Group is a leading mechanical contractor business that has a service-focused mindset and puts employee and customer safety first.  The leadership team of Smiley and Brandon McGhee brings significant industry expertise to the job sites, leading to project efficiency and a historic safety record.  Customers and competitors revere their safety protocols and ability to put people first as their main priority in their jobs.  We look forward to leveraging this experience in ensuring best in class services across the platform. We are delighted to extend a warm welcome to Smiley, Brandon, and the SIG team to the Fernweh family.”

About Fernweh Group LLC:

Fernweh is an investment firm led by leaders from global institutions with experience working with companies in the industrial and industrial technology sectors on strategy, M&A, and operational transformation. Fernweh believes that the mid- and small-cap industrial and industrial technology sectors are the backbone of the economy and the engine for its growth. By combining management capability, operational and strategic transformation support, and capital for each company’s unique context, history, and needs, Fernweh aims to be a builder of businesses and create value for all stakeholders. Fernweh’s portfolio of businesses includes Dabico Airport Solutions (www.dabico.com) and Avail Infrastructure Solutions (www.availinfra.com). Fernweh’s CEO co-authored the book on the industrial technology sector “Titanium Economy,” which has been on the WSJ best seller list. Learn more at www.fernweh.com

For any inquiries, please contact Siddarth Madhav (Siddarth.madhav@fernweh.com).