JMC Capital Partners has acquired Phoenix Products, a manufacturer of rugged industrial lighting products.
Phoenix’s lighting products are used in a range of applications in ports, mines, marine, and other commercial and industrial markets. The company, which traces its roots back to 1892 when it was founded by George Wordingham, has a 68,000 sq. ft. design, manufacturing, and headquarters facility in Milwaukee (www.phoenixlighting.com).
“Phoenix’s LED lighting business presents great opportunities for our future in this industry,” said Scott Fredrick, CEO of Phoenix. “As a 126-year-old manufacturer, we know the value of adaptability and perseverance. JMC’s strategy is a perfect fit for Phoenix and its plan for long-term growth.”
“We are very pleased to partner with Phoenix and its management team,” said Michael D’Amelio, Managing Partner of JMC. “The company has a proud tradition of innovative high-quality products. With JMC’s support, Phoenix plans on aggressive growth both organically and through add-on acquisitions.”
JMC invests in what it calls the “lower-lower” middle market industrial product and technology sectors. The firm acquires companies with revenues between $5 million and $35 million and then executes a plan to grow the businesses and build profitability through add-on acquisitions and operational improvements. JMC was founded in 1999 by Mr. D’Amelio, and Lawrence Bero and is based in Boston (www.jmccp.com).
© 2018 Private Equity Professional | September 17, 2018
