B&B Electronics Acquired By Graham Partners
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Ottawa, April 8, 2008 - B&B Electronics Manufacturing Company, headquartered in Ottawa, IL, has been acquired by Graham Partners. B&B Electronics designs, manufactures and directly markets communication products to the US and European industrial markets and has been doing so for the past 27 years. The Company's principal end customers are middle market manufacturers and utilities employing legacy industrial equipment that has not been networked or that operates on disparate technologies -- a market comprised of millions of machines. Graham Partners led the acquisition of B&B Electronics, partnering with Inverness Graham Investments on the transaction.
B&B Electronics' networking products are designed specifically for rugged industrial environments and allow multiple technology interfaces (Ethernet, USB, wireless, serial, etc.) to operate within a customer's network. According to a market research firm engaged by Graham Partners in connection with the acquisition, B&B Electronics' addressable market within the industrial networking sector totals approximately $600 million, with the major product niches B&B Electronics serves projected to grow at compounded annual rates over 20%.
Don Wiencek, President and CEO of B&B Electronics, said, "B&B Electronics has experienced uninterrupted growth for the past 20 years and has emerged as a premier communication solutions provider in its industry. I am confident we will continue to deliver impressive financial performance and excel at servicing our customers. We are enthusiastic about the financial and operational partnership with Graham and the opportunities that lie ahead of us."
"The opportunity in the manufacturing industry to retrofit the large installed base of legacy machines with networking devices is significant. We can attest to this as many of our middle market manufacturing companies are either contemplating or currently in the process of converting their equipment to a networked environment," stated Rob Newbold, Managing Principal of Graham Partners. "This trend, coupled with B&B Electronics' unique direct marketing approach, should sustain the Company's leading position in its market niche and propel it to new sales levels."
About Graham Partners (grahampartners.net):
Graham Partners is a leading, lower middle market industrial private equity firm based in suburban Philadelphia with over $1.3 billion under management. Graham Partners is sponsored by the privately held Graham Group of York, Pennsylvania, an industrial and investment concern with global interests in plastics, packaging, machinery, building products and outsource manufacturing. Graham Partners seeks to acquire industrial companies with revenues between $30 million and $500 million that participate in manufacturing niches where it can leverage its unique combination of operating resources and financial expertise.
