Veritas Capital Fund Management LLC on Thursday, Aug. 6, said it will acquire Saber Power Services LLC, a provider of power infrastructure services, from Greenbelt Capital Management LP.

Veritas didn’t disclose the terms of the transaction but said Saber Power’s management team will retain a significant minority stake. President and CEO Brian Bratton and the existing leadership team will continue to lead the company.

The Deal reported in December that Greenbelt has tapped Harris Williams LLC to run a sale process for Saber. The Deal added that Rosharon, Texas-based Saber generates about $150 million in Ebitda and could command a valuation of more than $2 billion based on recent power infrastructure transactions.

Founded in 2010, Saber provides electrical design, construction, testing and maintenance services for substations and medium-to-high voltage infrastructure systems. The company serves the industrials, technology, midstream, utility and renewable sectors in Texas and the greater Southeast region.

An investor group led by Greenbelt acquired the business from Oaktree Capital Management LP in November 2023 for $250 million to $499 million, according to data from SPS by With Intelligence. Oaktree’s 2019 investment in Saber was valued at $50 million to $249 million, according to SPS.

Saber received $650 million in debt from Blackstone Credit & Insurance to refinance its capital structure, support an investor dividend and provide Greenbelt with flexibility as it considers potential exits, Pitchbook Data Inc. reported in October. The company acquired electrical engineering and field services firm inoLECT LLC in May 2025 for an undisclosed amount.

Austin, Texas-based Greenbelt is a growth-focused middle market private equity firm focused on control and significant minority investments ranging from late-stage growth equity to private equity to infrastructure development across the energy sector.

In June 2025, Greenbelt closed its inaugural fund, Greenbelt Capital Partners III LP, at its hard cap of $1 billion.

New York-based Veritas invests in aerospace and defense, healthcare, education, sustainability and infrastructure and financial technology companies. The firm has completed more than 250 investments, according to its website and in February closed its ninth flagship fund with $15.3 billion in commitments.

Veritas on Wednesday announced the acquisition of Trinity Consultants Inc., a provider of engineering and consulting services to the natural and build environment, from Oak Hill Capital Partners LP. The Deal also had reported Trinity was on the block.

Veritas acquired BGIS Global Integrated Solutions Canada LP, a provider of technical integrated facilities management services, from CCMP Capital Advisors LP and Alberta Investment Management Corp. in July.

Veritas expects the Greenbelt transaction to close in the fourth quarter of 2026.

Veritas used a Gibson, Dunn & Crutcher LLP team led by John M. Pollack and Christopher R. Harding for counsel. Veritas partner and co-head Daniel Sugar worked internally on the transaction.

Pollack and Harding also advised on the Trinity acquisition.

Saber Power and Greenbelt looked to Harris Williams for financial advice and a Kirkland team led by Shubi Arora, Jhett R. Nelson, Bo R. Cook and Lucas E. Spivey for counsel. Greenbelt partner Christopher Murphy was on the sale in-house along with Bratton.

Harris Williams and Kirkland advised Saber on its 2023 sale to Greenbelt.