NEW YORK — Sentinel Capital Partners, a private equity firm that invests in lower midmarket companies, announced Monday the acquisition of ECM Industries, a global manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply and gas utility markets. Terms of the deal were not disclosed.
ECM serves professional electricians, contractors, maintenance technicians, and do-it-yourselfers with a wide range of premium brands, including Gardner Bender – ECM's flagship brand that provides a wide variety of rough electrical products and tools; King Innovation – a well-known brand of harsh environment connectors; and Bergen – a designer and manufacturer of construction and maintenance lighting. ECM manages more than 3,000 SKUs and leverages long-term relationships across diverse sales channels, including distributors, specialty hardware stores, and home centers. ECM enjoys sophisticated operational and sourcing capabilities through six separate global locations, including a new, purpose-built facility in New Berlin, WI, designed to support future growth.
"We know the ECM team well through having worked closely with them in our prior investment in Power Products, and we are very excited to again partner with them as they pursue a multiyear strategic plan to build an electrical products platform with a diverse mix of brands, markets, and channels," said John Van Sickle, a Sentinel Partner. "ECM has an exceptional financial profile, and has proven itself an innovator and consolidator in the electrical products industry. ECM is well positioned to continue driving strong performance."
"ECM serves a growing $2+ billion addressable market with favorable secular trends and has a significant opportunity to expand in both core segments and adjacencies," said Mike Masino, ECM's CEO. "We provide the widest product offering in our industry and enjoy strong customer loyalty strengthened by our extensive technical expertise and resources that are a key part of our unique capabilities. My team and I are very excited to work with Sentinel again, who understands our industry and has a proven track record with us as investment partners."