Citizens Financial : Advises PCX on its Acquisition by Hubbell Industrial Controls

07/28/2022

PROVIDENCE, RI - Citizens M&A Advisory announced today that it served as the exclusive financial advisor to PCX Holding LLC ("PCX") on its acquisition by Hubbell Industrial Controls, Inc.

Based in Raleigh, N.C., PCX is a leading designer and manufacturer of modular power solutions for applications to the data center, energy and commercial construction markets. With 228,000 square feet in manufacturing space, the company operates out of two facilities in North Carolina. PCX was established in 1993 and spun out of IES Holdings (NASDAQ: IESC) in 2002.

Former PCX Chairman Rocco Di Lillo said: "The family at PCX has worked tirelessly these last two decades to drive innovation, allowing our customers to reduce construction costs and time and making us a leader in the industry. The Citizens M&A team were consummate professionals - working diligently throughout the entire process to help achieve our strategic goals and realize our reach valuation. I had full trust in their expertise and guidance as we worked through challenges and found solutions."

Mark Filippell, managing director at Citizens M&A Advisory, said: "The Di Lillo family has grown PCX from a small electrical contractor into a major force in the energy management and data storage industry. Their engineering excellence, persistence and gusto are an inspiring example to entrepreneurs across the country. It was an honor to help them advance their business and reach their potential."

Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 150 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $226.7 billion in assets as of June 30, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

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The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.