Private Equity Helps Power Michigan

ITC

As a result of its partnership with private equity firm KKR & CO. L.P., Michigan-based International Transmission Company was able to invest more than $400 million to rebuild and upgrade the transmission grid in southeast Michigan. ITC is now the largest independently owned and operated electricity transmission company in the U.S., serving customers in more than 2,000 communities in seven states across the Midwest.

During KKR’s ownership, the Company invested over $400 million to rebuild and upgrade the transmission grid in southeast Michigan.
KKR exited this investment in 2007. Today, ITC is the largest independently owned and operated electricity transmission company in the U.S. and is the ninth largest electric transmission-owning company in the country based on total retail megawatt hours sales.
ITC and its operating subsidiaries now have more than 400 employees and nearly 1,000 skilled labor contractors.