Graycliff Partners LP has announced it has completed the acquisition of Electro-Mechanical Corporation, which is based in Bristol, Virginia.
Founded in 1958 by Frank Leonard, EMC manufactures medium voltage electric equipment, primarily switchgears, transformers and custom systems that serve as critical components for utility and industrial power infrastructure. The company’s products are sold to electrical utilities, renewable energy generators, mining operators, and general industrial users of power. The company has been family owned for over 60 years, and goes to market under two leading brands, Federal Pacific and Line Power.
“The EMC team is very excited to partner with Graycliff for this next chapter in the company’s history,” said Howard Broadfoot, EMC’s CEO. “EMC has established itself as a trusted partner in the electrical distribution business, and we are excited to leverage Graycliff’s guidance and resources to further grow the company in the years to come.”
EMC is the fourth investment in Graycliff’s fourth private equity fund, Graycliff Private Equity Partners IV LP. Graycliff was founded in 1991 and has a long history of investing in lower middle market companies with a focus on acquiring or partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors. Graycliff has completed over 100 transactions and oversees more than $1 billion in investments.
“EMC has an impressive history and strong reputation as a key player in electrical power distribution infrastructure. We are excited to honor the legacy of Frank Leonard and continue to drive growth at EMC alongside Howard and his team,” said Andrew Trigg, Managing Partner at Graycliff.
