Graycliff Partners has acquired Ameritherm (DBA Ambrell), a designer and manufacturer of induction heating products and systems. Exium Partners co-invested with Graycliff on this transaction.
“We are very excited to partner with Ambrell,” said Andrew Trigg, Managing Director, Graycliff Partners. “Ambrell provides proprietary heating products to a loyal global customer base and as a result has experienced 25 years of strong success. We see a great deal of growth opportunities for the company and look forward to partnering with management to continue to offer new products and to expand both in the US and internationally.”
Ambrell designs, manufactures, and markets induction heating products, which may be sold individually or as part of an Ambrell system-solution. The company products are sold globally to energy, electronics, medical, and general industrial manufacturers. Ambrell was founded in 1989 and is based near Rochester in Scottsville, NY and operates foreign subsidiaries in the United Kingdom, France and the Netherlands (www.ambrell.com).
“Graycliff’s success and deep experience in investing in the manufacturing industry appealed to us as we looked for the right partner to take Ambrell to the next stage of growth,” said Richard Rosenbloom, Chief Executive Officer, Ambrell. “We are excited to partner with their team, and we look forward to leveraging their expertise and proven investment approach to continue to grow the company and service our global clients.”
Graycliff Partners invests from $5 million to $25 million of equity and mezzanine capital in companies with revenues of at least $10 million and EBITDA margins of 10% or higher. Sectors of interest include manufacturing, services and distribution. Both control and minority investments are considered. The firm was formed in December 2011 by the former investment team of HSBC Capital. Graycliff Partners is headquartered in New York with an additional office in São Paulo (www.graycliffpartners.com).
“The Ambrell management team is experienced, committed, and guided by the same core values that we believe help build strong, sustainable businesses,” said Jeff Valentine, Partner, Exium Partners.
Exium Partners is an operationally-focused investment group that invests in companies with revenues of $5 million to $100 million and EBITDA of $2 million to $20 million. Sectors of interest include business services, software, digital media, manufacturing, telecommunications, and financial technology & services. Exium Partners is based near Rochester in Fairport, NY (www.exiumpartners.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-8-14