Firefly Capital Management Acquires Gravity Power & Rental

Gravity will retain its brand identity and current leadership team, with CEO Rob Rice continuing to oversee operations. The company specializes in power-as-a-service, deploying natural gas and diesel generators alongside support equipment like pumps and heaters to microgrids and industrial facilities. According to Firefly partners Jon Doochin and Jakob Blomqvist, the acquisition serves as a long-term play to capitalize on the widening gap between traditional grid capacity and the needs of onsite operations.

Firefly intends to maintain the existing management structure while providing the capital necessary to scale the company’s reach. For the transaction, Vinson & Elkins LLP and Piper Sandler & Co. advised the sellers, while Davis Graham & Stubbs LLP provided legal counsel to Firefly. The acquisition marks a significant consolidation in the mobile power sector, positioning Gravity to expand its reach within the energy and industrial end markets where reliable, onsite power is increasingly viewed as a mission-critical asset.