Center Rock closes Power Services Group continuation vehicle led by New 2ND Capital

Center Rock has closed a continuation vehicle for Power Services Group, with New 2ND Capital leading the deal, PE Hub reported. The Cape Coral, Florida company supplies aftermarket services and parts for steam and gas turbines into power generation, industrial and petrochemical markets, and the report carries no price, no vehicle size and no split between new capital and rolled positions.

Aftermarket turbine work rests on an installed base — parts and service sold against equipment already in the field, spread across three end markets whose cycles rarely turn together. Power generators, general industry and petrochemical operators each buy on their own schedule, a spread that gives the cash-flow profile a sponsor can hold past a standard fund term. Whether that is what drew Center Rock to a continuation rather than a sale is not in the report.

The Power Services Group vehicle is the third continuation close this publication has covered in twelve days, and like the first two it arrived without a number. Amulet closed a US Fertility vehicle on September 18 and the report carried no price; Sun Capital closed its second vehicle of 2026 for Anderson Global on September 29, and that report had no price, no size and no lead buyer.

Three closes are not a trend in themselves, but they line up with the broader shift: continuation vehicles have moved from alternative exit to primary one, and the sponsor's mark sits at the center of each. When the sponsor sets the price and LPs choose only between cash and a roll, the LPAC vote and the rollover election carry all the weight, and none of the three reports describes either.

The capital side tilts it further: secondaries funds keep raising more than the market executes, so lead buyers are competing for the vehicles that do come, and a sponsor has little reason to volunteer a mark. That last step is inference; the Power Services Group coverage amounts to a company description and a close.

What would break the pattern is a number — a disclosed price, a stated rollover ratio, a lead buyer's share. Any one of them would let a rolling LP measure this mark against the last one. Until then the only price on Power Services Group is the one Center Rock set, and any comparison will surface in fund reporting rather than in the announcement.