Watervale Equity Partners has acquired Cleveland-based EMX, a maker of sensors and controls for the access control industry and process automation applications for various industrial markets. No financial terms were disclosed.
Cleveland, Ohio (October 1, 2018) – Watervale Equity Partners, a Cleveland-based private equity firm, has acquired the stock of EMX Industries, Inc. (EMX) and its subsidiaries. Terms of the transaction were not disclosed.
EMX, headquartered in Cleveland, Ohio is a leading manufacturer of sensors and controls for the access control industry and process automation applications for various industrial markets. The Company’s main product categories include photoeyes, vehicle detectors, color sensors, luminescence sensors and othercustom specialty sensors.
Joe Williams, who also invested alongside Watervale in the transaction and will lead the company as CEO, commented, “We thank Joe Rozgonyi for his 30 years of entrepreneurial spirit and leadership. Our team is excited about the opportunities available to us, and we look forward to working with Watervale to continue our growth and achieve our vision for the Company.”
“EMX is an exciting Company with an excellent reputation for innovative products and superior service. We are excited to partner with management to realize the many growth opportunities we envision, including new products, channels and complementary add-on acquisitions,” said Mike Faremouth, Managing Director at Watervale Equity Partners.
“EMX fits our investment criteria perfectly. It provides high quality engineered products serving a variety of end markets, and we are thrilled that our first investment is with a Cleveland-based company,” added Jim Guddy, Managing Director at Watervale Equity Partners.
Located in Cleveland, Ohio, Watervale Equity Partners is focused on partnering with owners of growing, niche industrial and consumer companies to help them enhance sales growth and operations while establishing more effective systems and processes. Visit Watervale at www.watervalepartners.com.
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