NOJA Power to Be Acquired by Goldman Sachs Alternatives

NOJA Power, a global leader in medium-voltage switchgear and grid automation technology, today announced that it has entered into a definitive agreement to be acquired by Goldman Sachs Alternatives. This investment marks a significant milestone for the Brisbane-based manufacturer and positions the company to accelerate its next phase of international growth, innovation and long-term investment in its business.

Under the terms of the agreement, founders Neil O’Sullivan, Oleg Samarski, Jay Manne and Quynh Anh Le will make a significant reinvestment alongside Goldman Sachs Alternatives and will continue to lead the business. Continuing as shareholders and leaders of the business reinforces a shared commitment to NOJA Power’s long-term strategy, culture and continued delivery of world-class engineering solutions to utility customers in more than 100 countries.

Neil O'Sullivan, Group Managing Director and CEO of NOJA Power, said:
“Partnering with Goldman Sachs Alternatives marks the beginning of an exciting new chapter for NOJA Power. Their global platform and long-term investment approach aligns with our ambition to accelerate growth, expand manufacturing capacity and continue delivering cutting-edge grid automation technology to customers worldwide.”

Ellerston Capital has been a proud cornerstone investor of NOJA Power in recent years and welcomes the investment by global investor Goldman Sachs.

Stephanie Hui, Asia Pacific Head of Private and Growth Equity at Goldman Sachs Alternatives, said:
“NOJA Power is a standout Australian engineering success story, combining differentiated technology, global market leadership and an exceptional founder-led culture. We are excited to work closely with NOJA's founders, including Group Managing Director and CEO, Neil O'Sullivan, as they build on the company's strong track record of innovation and expand its international footprint.
This investment reflects our strategy of investing in and partnering with market-leading businesses serving critical infrastructure. As electricity networks become increasingly digital, resilient and interconnected, we believe NOJA Power is exceptionally well positioned for its next phase of long-term growth.”

Ellerston Capital Solutions and Harris Williams acted as exclusive financial advisors to NOJA Power in the transaction.

The transaction remains subject to regulatory approvals, including a review by Australia’s Foreign Investment Review Board. Completion is expected later in 2026.

About Private Equity at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $706 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has approximately $4.0 trillion in assets under supervision globally as of June 30, 2026.

Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.