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Greenbelt Explores Sale of Saber Power Services With Harris Williams, Eyeing Over $2B EV
Greenbelt Capital Partners-backed electrical services firm Saber Power Services is running an early-stage sale process with Harris Williams, according to sources.
The company is projected to generate about $200 million of EBITDA in fiscal year 2026, growing in the teens, sources said, adding that the company could potentially fetch a low-teens multiple in a sale, implying an enterprise value of more than $2 billion.
Headquartered in Houston, Saber is a provider of electrical infrastructure services, including design, installation, testing and maintenance of medium- and high-voltage systems, according to its website.
A Greenbelt Capital-led group that included Schroders Capital, StepStone Group and Wafra acquired the company from Oaktree Capital Management in 2023, with financing from Blackstone Credit, according to a press release at the time.
As of Dec. 31, 2025, Blackstone Private Credit Fund and Blackstone Secured Lending Fund held Saber’s first lien debt, according to Octus’ BDC Database. The debt priced at SOFR+550 bps with 9.27% all-in yield and is slated to mature in October 2031.
A list of Saber’s CLO holders can be found HERE
In the broader industrials sector, average pricing of senior direct loans to back M&A transactions was around SOFR+457 bps in the first quarter of 2026, slightly down from SOFR+464 bps in the fourth quarter of 2025, according to Octus’ Private Credit dashboard.
Amid recent headwinds in the software sector, where AI-related risks are weighing on sentiment, market participants pointed to the energy and infrastructure sector as a bright spot for capital deployment, Octus reported this week.
One recent example is LS Power’s purchase of Constellation Energy’s generation assets in PJM, with Santander leading up to a $3 billion leveraged loan to finance the transaction. Separately, Traverse Midstream Partners launched a $1.1 billion seven-year first lien term loan B, with the price talk at SOFR+225 to 250 bps and 99.5 OID, to fund a leveraged buyout by ePointZero. The deal is led by Santander and Mizuho, and commitments are due Wednesday, April 22.
Saber, Greenbelt Capital and Harris Williams did not return requests for comment.
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