Graycliff Partners Announces Acquisition of Ameritherm
NEW YORK, May 7, 2014-- Graycliff Partners, an independent investment firm focused on middle market private equity investments, today announced it closed on its investment in a majority stake in Ameritherm (known as Ambrell), a leading designer and manufacturer of precision induction heating products and systems. The investment was made from Graycliff’s latest buyout fund, Graycliff Private Equity Partners III. Graycliff was joined in its investment by Exium Partners, an operationally-focused investment group based in Rochester, NY. The Ambrell management team retained a significant amount of equity as part of the transaction.
Headquartered in Scottsville, New York, Ambrell designs, manufactures, and markets precision induction heating products, which may be sold individually or as part of an Ambrell system-solution. With over 30 patents on its proprietary technology, Ambrell is committed to adding value for its customers and continually invests in R&D to develop new and unique products. Ambrell was founded over 25 years ago, and in that time has sold more than 10,000 systems into over 50 countries, serving customers in a number of industries including the energy, electronics, and medical sectors, in addition to general industrial manufacturers. The company conducts its business globally and operates foreign subsidiaries in the United Kingdom, France and the Netherlands, in addition to foreign sales representation in several other regions around the world.
“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.”
“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.
“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.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focused on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
About Exium Partners
Exium Partners is a private equity and management consulting firm that invests in healthy businesses with strong growth potential. Exium’s partners have executive operating experience in addition to expertise in private equity investing and a track record of successful merger and acquisition transactions. Exium has partners in Rochester, Atlanta, New York City, and Chicago. For more information about Exium Partners, please visit http://exiumpartners.com or call 1-888-98-EXIUM.
Jen Dowd, 617-556-9982, x225
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