Industrial Growth Partners has acquired Grakon Holdings, a designer and manufacturer of lighting systems and components sold to the transportation markets. This is the sixth platform investment made by Industrial Growth Partners IV, LP.
Grakon’s products include customized interior and exterior LED lighting systems, nameplates and trim components for OEMs in the heavy truck, specialty vehicle and rail end markets. The company is the market leader in the customized lighting market for heavy trucks in North America, and also meaningfully serves customers in Europe and Asia. Grakon is headquartered in Seattle with additional operations in Farmington Hills, MI; Helmond, Netherlands; and Dongguan, China (www.grakon.com).
Industrial Growth Partners (IGP) intends to grow Grakon by taking the company to new geographies and end markets, and will also grow the company through strategic acquisitions.
“IGP’s familiarity with Grakon’s key end markets through its prior investments and the firm’s deep experience in the industrial sector made IGP an ideal equity partner for us,” said Dave Paborsky, President and CEO of Grakon.
Industrial Growth Partners provides equity capital to lower-middle market manufacturing and manufacturing services companies with revenues of $30 million to $100 million. The firm invests equity in a range of transactions involving a change of ownership, such as management buyouts, leveraged buyouts, corporate divestitures, recapitalizations and management buy-ins. Industrial Growth Partners was founded in 1997 and is based in San Francisco (www.igpequity.com).
2014 PEPD • Private Equity’s Leading News Magazine • 11-6-14
