Seacoast Capital Invests in ElectroCraft
Search

Seacoast Capital Invests in ElectroCraft

electrocraft nf1Seacoast Capital has made an investment in ElectroCraft to support its acquisition of Hansen Corporation, a manufacturer of motion control products.

“We were looking for the right kind of financing partner to provide the junior capital necessary for the Hansen acquisition,” said Mike Karsonovich, President and Chief Executive Officer of ElectroCraft.  “Seacoast’s team was very responsive, completed their diligence on our business in a short period of time and delivered on their promises.  We look forward to working with Seacoast to continue the growth of ElectroCraft with the Hansen acquisition and, potentially, future acquisitions.”

ElectroCraft is a provider of fractional-horsepower motor and motion control products for medical, industrial, and commercial applications.  The company’s products are used in pumps, office equipment, medical devices, aircraft and thousands of other applications.  ElectroCraft is headquartered in Dover, NH with operations in the United States, Europe, and Asia  (www.electrocraft.com).

Hansen Corporation is a manufacturer of motion control products, including DC motors, synchronous motors, and clock movements, among others.  The company is based in Princeton, IN (www.hansen-motor.com).

tom gorman nf2“We believe that the business combination of ElectroCraft and Hansen will result in an industry leading platform within the motion control sector.  Seacoast is excited to partner with ElectroCraft’s management and we look forward to our ongoing support of the business,” said Tom Gorman, Partner at Seacoast Capital.

Seacoast Capital provides between $3 million and $12 million of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations. While industry agnostic, Seacoast has a particular interest in the specialty manufacturing, value-added distribution, and business services sectors.  Seacoast targets investments in companies with $10 million to $150 million in revenue and $2 million or more of EBITDA. Seacoast is currently investing its third fund, Seacoast Capital Partners III, with $150 million of capital commitments.  The firm was founded in 1994 and has offices in Boston and San Francisco (www.seacoastcapital.com).

2014 PEPD • Private Equity’s Leading News Magazine • 10-8-14

To search in site, type your keyword and hit enter