Graham Partners has completed the sale of portfolio companies Strata Products Worldwide and Strata Proximity Systems, makers of mining safety equipment and mining safety technology.
Strata Products Worldwide, acquired by Graham in November 2010, is a provider of safety products and services to major mining companies operating in the US, Europe, Australia, South Africa, New Zealand, Papua New Guinea, China, Russia, South America, and Mexico. Strata’s products includes underground safety refuge chambers, wireless tracking and communication devices for extreme environments, underground secondary roof support systems, and mine construction services. Strata Proximity Systems is a manufacturer of proximity detection and collision avoidance systems for mining applications and was acquired in 2011 by Graham to bolster Strata’s electronic safety product platform. Both Strata Products Worldwide and Strata Proximity Systems (SPS) are based in the Atlanta suburb of Sandy Springs (www.strataworldwide.com).
During Graham’s four year ownership term the EBITDA of Strata tripled. The increase was the result of the commercialization of new products, developing and marketing advancements to existing products, and international expansion.
“Our investment thesis focused on the growth opportunities that were available for Strata to expand its product offerings and subsequently penetrate new global markets. We worked closely with Strata and SPS to successfully develop their market capabilities,” said Chris Lawler, Managing Principal at Graham Partners. “Many of the achievements during this partnership can be attributed to Strata’s strong management team, and we wish them continued success under new ownership.”
Graham Partners seeks to acquire companies with EBITDA between $5 million and $50 million, and will invest in smaller companies as add-on acquisitions to existing portfolio companies. The firm is sponsored by the Graham Group, an industrial and investment concern with interests in plastics, packaging, machinery, building products and outsourced manufacturing. Graham Partners was founded in 1988 and is headquartered in Philadelphia (www.grahampartners.net).
“Our partnership with Graham has been very rewarding, both professionally and personally. As a significant equity stakeholder in Strata and SPS alongside of Graham, I am pleased to share in this successful investment outcome,” said Rory Paton-Ash, retiring CEO of Strata. “I have enjoyed overseeing Strata become the leading global company delivering technology-enabled safety products to the underground mining industry. The company is uniquely positioned for strong long-term growth and continued market leadership.”
2014 PEPD • Private Equity’s Leading News Magazine • 8-13-14
