Milwaukee-based manufacturer Brady Corp. has sold its Varitronics LLC division to Minnesota private equity firm Renaissance Equity Partners. Milwaukee investment banking firm Emory & Co. advised Brady in the transaction.
Brady supplies identification, safety and material solutions. Varitronics makes software and printers for classroom learning materials, such as posters.
“The division was no longer a strategic fit with Brady’s core business, so it was a good move for them to sell the division to an outside firm through a competitive sale process,” said John Emory Jr., president of Emory & Co.
Varitronics is based in Plymouth, Minn. Its education technology products, which are designed to heighten academic progress and classroom engagement, are used in more than 35,000 schools and early childhood centers throughout North America.
The company was founded in 1983 and has been led by President and CEO David Grey. He will maintain his role and keep the Varitronics LLC name. He plans to expand the company’s workforce and grow the authorized dealer distribution network nationwide.
“I am excited by the opportunity to continue leading Varitronics in serving educators and students across the country,” Grey said. “This acquisition will not only allow Varitronics to continue to grow, but will enable us to better serve our customers by strengthening our product offerings, accelerating innovation and meeting customer demand more rapidly. Investors’ interest in Varitronics was driven by our outstanding workforce culture, unique value proposition, and dedicated dealer distribution network.”
