Power Grid Components (PGC), a key player in supplying components for the electrical grid, has revealed a significant leadership transition. Effective August 18, 2025, Michael Plaster, a seasoned industry veteran with nearly 40 years of experience, will assume the role of Chief Executive Officer, succeeding Rick McClure. McClure will transition to Chairman of the Board, guiding PGC through its next phase of growth and innovation in the electrical components sector.
Michael Plaster joins PGC as CEO, effective August 18, 2025.
Rick McClure transitions to Chairman of PGC’s Board of Directors.
Plaster brings 20 years of leadership experience from ABB.
PGC focuses on electrical grid components, including switchgear and insulators.
The transition aims to drive PGC’s growth in the energy transition era.
Blackstone Energy Transition Partners supports PGC’s strategic direction.
Michael Plaster, previously Executive Vice President at ABB, brings extensive experience in electrification and automation to PGC. At ABB, he led the U.S. Electrification commercial organization since May 2020, managing a 3,000-person team and driving significant growth in the North American Distribution Solutions business. His roles at Kirby Risk Electrical Supply and Schneider Electric further honed his skills in sales growth and operational excellence. Plaster’s academic credentials include a Bachelor of Science in Mechanical Engineering Technology from Purdue University and an MBA from Butler University, complemented by ABB’s Senior Leadership Development Program at IMD in Lausanne, Switzerland.
“In Mike, we have found the ideal next CEO for PGC, and I could not be more excited about the company’s future,” said Rick McClure. Plaster’s proven track record and industry influence, including his service on the NEMA Board of Governors, position him to lead PGC effectively.
Founded in 2017 by Rick McClure, Power Grid Components has grown through the acquisition of eight businesses, establishing itself as a leading supplier of high-voltage disconnect switchgear, insulators, instrument transformers, and power distribution products. The company plays a critical role in supporting the evolving electrical grid, particularly during the ongoing energy transition. Plaster’s appointment aligns with PGC’s strategy to enhance customer partnerships and deliver responsive solutions.
“I am very excited to join PGC and build on Rick’s success in partnering with our customers as we navigate through the energy transition and deliver responsive solutions to the evolving electrical grid,” said Mike Plaster.
Backed by Blackstone Energy Transition Partners, PGC benefits from the firm’s extensive investment in the energy sector, totaling over $24 billion globally. “Since founding PGC in 2017, Rick has been a pioneer in the electrical components sector,” said John-Paul (JP) Munfa, a Senior Managing Director at Blackstone. The firm’s support underscores PGC’s potential for sustained growth and innovation under Plaster’s leadership.
Power Grid Components is poised for a dynamic future, leveraging Plaster’s expertise and McClure’s strategic oversight as Chairman to strengthen its position in the electrical components industry.
Power Grid Components was formed by electrical utility veteran Rick McClure in 2017 to acquire and grow companies that supply products used in the North American electric power grid and adjacent industries. Since its founding, PGC has acquired eight businesses. Today, PGC is a supplier of high-voltage disconnect switchgear, high-quality porcelain, composite and glass insulators, instrument transformers, outside plant hardware, controlled switching devices, power distribution products, and fixed-load transformers.
Blackstone Energy Transition Partners is Blackstone's energy-focused private equity business, a leading energy investor with a successful long-term record, having invested over $24 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders.
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