CVC Buys Radwell from Greenbriar

CVC Buys Radwell from Greenbriar

CVC's buy of Radwell was made through its seventh fund and Greenbriar will remain as a minority investor

Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment including logic controllers, encoders and servo motors

SOURCE: Getty Images

CVC Capital has acquired Radwell International, a distributor of new and surplus industrial automation components.

CVC Capital is acquiring its majority interest in the company from founder and CEO Brian Radwell and Greenbriar Equity Group, both of whom will remain shareholders in the company. CVC’s investment is being made through its seventh fund, CVC Capital Partners VIII LP.

Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment – logic controllers, data control systems, integrated circuits, timers, and servo motors – for plant floor and facilities maintenance machinery.

Radwell also provides a range of services to its customers including systems integration, programming, field calibration, and repair. The company was founded in 1979 and is headquartered near Philadelphia in Willingboro, New Jersey with nine total locations across the United States, Canada, the United Kingdom, and Germany.

“Radwell is an incredibly special business and we are honored to have supported Brian and the Radwell team as their first institutional partner,” said Niall McComiskey, a managing partner at Greenbriar. “The Radwell team has built a market-leading automation MRO platform that is underpinned by unparalleled proprietary data and a passionate team with deep technical expertise. We are proud of our partnership with the management team, and we are excited to support the next chapter of growth alongside Radwell and CVC.”

“We have truly enjoyed working with Niall McComiskey and the Greenbriar team and are thrilled that they have reinvested in Radwell,” said Mr. Radwell. “Our partnership with Greenbriar enabled Radwell to significantly accelerate growth and innovation which allowed us to scale rapidly. We are also very excited to bring on CVC as a new partner, whose global resources and experience building businesses will enable us to pursue new avenues of growth in the United States and worldwide. CVC’s values are fully aligned with our business and I am confident that we have chosen the perfect partner for the next stage of our development.”

“Radwell is a fantastic business which has evolved into a leader, well-known for providing its customers with a unique and critical service,” said James Christopoulos, a senior managing director at CVC. “We value its employee-centric culture focused on continuous improvement and are delighted to partner with Brian and his excellent team. We look forward to supporting the next stage of Radwell’s growth domestically, internationally and through strategic acquisitions.”

CVC Capital Partners currently manages over $122 billion of assets, and funds managed or advised by CVC are invested in more than 100 companies worldwide which have combined annual sales of more than $120 billion. CVC, founded in 1981, is based in London and has a network of 25 offices throughout Europe, Asia and the United States.

Greenbriar invests from $75 million to $150 million of equity per transaction in businesses that have enterprise values from $100 million to $1 billion. Sectors of interest include advanced manufacturing, aerospace & defense, automotive aftermarket, business, and industrial services, specialty distribution, logistics, and rail. Greenbriar was founded in 1999 and is based in Rye, New York.

Baird and Houlihan Lokey were the financial advisors to Radwell on this transaction, and Barclays and Morgan Stanley were the financial advisors to CVC.

© 2022 Private Equity Professional | April 7, 2022

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