Company Overview
Energy management solutions company designing and manufacturing electrical and mechanical controls for general lighting, outdoor lighting, irrigation, water heating, HVAC/R, and pool & spa applications.
Investment Status
Active. Seeking add-on acquisitions to expand the product portfolio and expand geographically.
Transaction Overview
Recapitalization of the company. The management team invested in the transaction.
Investment Thesis
- The preferred brand for electrical contractors with a product portfolio of reliable, engineered, and low average selling price products
- Long tenured relationships with electrical distributors due to a track record of quality, innovation, and availability as well as customer service and support
- Execute on identified operational improvement opportunities to continue to reduce lead times, automate production, improve procurement functions, and increase product quality and reliability
- Leverage in-house design and engineering talent to accelerate new product development within core categories and position the Company for adjacent product category expansion
- Pursue strategic add-on acquisitions to increase market share, add complementary product categories, expand geographic reach, and further penetrate the electrical products landscape
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