New Berlin-based ECM Industries has been acquired by New York-based private equity firm Sentinel Capital Partners.
ECM Industries is a global manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply and gas utility markets.
Sentinel specializes in buying and building businesses in the lower midmarket in the United States and Canada in partnership with management. Terms of the deal were not disclosed.
ECM Industries makes electrical products under a variety of brands: Gardner Bender, Sperry Instruments, Bergen Industries, King Innovation and Calterm.
“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.”
Earlier this year, ECM moved from Menomonee Falls to its new 192,000-square-foot headquarters at 16250 W. Woods Edge Road in New Berlin, which is designed to support future growth.
The building itself was sold last week by Illinois-based Westminster Capital to Boston-based STAG Industrial Inc. for $18.5 million.
“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 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.”
