Ripley Tools, a portfolio company of CapitalWorks, has acquired Optical Design Manufacturing (ODM), a designer and manufacturer of fiber optic testing equipment. CapitalWorks acquired Ripley Tools from Meriwether Capital in February 2014.
ODM’s products include optical power meters, laser and LED light sources, inspection scopes, optical fiber identification instruments, optical time-domain reflectometers (an instrument used to locate faults along a fiber link), and full testing kits. ODM was founded in 2003 by its president Michael Schneider and is located 95 miles north of Boston in Laconia, NH (www.odm-inc.com). ODM’s entire operation, including technical service, customer service, design and production will remain in Laconia for the foreseeable future.
Ripley Tools is a designer and manufacturer of hand tools used in the cable TV, telecom, fiber optic and electrical utility markets. The company’s products are sold to both OEMs and distributors in North America, Europe and Asia. Company-owned brand names include Ripley, Miller, Cablematic, Utility Tool and Abeco. Ripley Tools, led by CEO Christian Festa, is headquartered near Hartford in Cromwell, CT (www.ripley-tools.com).
CapitalWorks invests in companies that have revenues of $15 million to $75 million and EBITDA of $3 million to $9 million. Sectors of interest include niche manufacturing, value-added distribution, business services, aerospace and defense, and specialty chemicals. CapitalWorks was founded in 1999 by Rob McCreary and is headquartered in Cleveland (www.capitalworks.net).
© 2018 Private Equity Professional | January 4, 2018