Blackford Capital has made an investment in Hall Research, a designer and manufacturer of A/V hardware and software.
Hall Research’s products facilitate the communication between A/V sources and A/V displays. The company’s 22 different product lines and over 500 SKUs include video over CATx cabling, matrix switchers, scaling products, and automation products. Hall’s products are used in a range of applications including corporate A/V presentation systems, medical imaging, airport security, and courtroom evidence presentations.
The company’s customers are active in the medical, education, digital signage, corporate IT, cinema, retail, and government sectors. Hall Research was founded in 1984 by its CEO Ali Haghjoo and is headquartered near Los Angeles in Tustin, CA (www.hallresearch.com).
“We are thrilled to be partnering with such an experienced and dedicated team at Blackford Capital,” said Mr. Haghjoo. “We feel that with Blackford’s expertise, financial and operational insight, and willingness to partner together, Hall has tremendous potential in achieving growth and other strategic initiatives in the months and years to come.”
Blackford Capital invests in middle-market manufacturing, distribution, and service companies in both mature and growing industries. Target companies will have revenues of $20 million to $100 million and EBITDAs of $2 million to $20 million. The firm is headquartered in Grand Rapids, MI (www.blackfordcapital.com).
Hall is Blackford’s sixth investment in its National Growth Practice, which invests in companies throughout the US, and is the firm’s thirteenth portfolio company. “From the outset, we were impressed with Hall’s ability to leverage its in-house engineering and product innovation capabilities in developing custom-tailored solutions for its customers,” said Dennis Dunn, Operating Partner and Director of the National Growth Practice at Blackford Capital. “We are confident that we can assist management in leveraging those capabilities in new market segments and geographic regions going forward.”
Blackford completed the transaction with financing from Grand Rapids-based Gun Lake Investments, the economic development arm of the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians of Michigan (www.gunlakeinvestments.com). Comerica Bank (www.comerica.com) also provided debt financing to support this transaction.
© 2018 Private Equity Professional | September 24, 2018
