Summit Park sold NSi Industries to Blue Sea Capital for an undisclosed amount. Headquartered in Huntersville, North Carolina, NSi supplies electrical connectors for construction and repair applications.
Summit Park, a private equity firm focused on investing in lower middle market companies, is pleased to announce the sale of NSi Industries (“NSi” or “The Company”), a leading supplier of electrical connectors, to Blue Sea Capital.
NSi is headquartered in Huntersville, North Carolina and the Company’s roots date back to 1922 when Tork, Inc. was founded as a manufacturer of mechanical time switches and controls. Today, NSi is a leading supplier of a wide variety of electrical connectors for construction, maintenance and repair applications. NSi’s well-known brands include Polaris™ insulated connectors, Tork® time and lighting controls, and Easy-Twist™ wire connectors. The Company’s products are sold to end users primarily through the electrical distributor channel, and NSi enjoys broad placement at over 5,000 branch locations throughout the United States and Canada. Summit Park acquired a majority interest in NSi in 2012.
“We have had a great partnership with NSi, and we are proud of what the Company has accomplished through our ownership period. We look forward to following their continued success,” said Jim Johnson, Managing Partner at Summit Park. Axel Rasmussen, founder and Chairman of the Board of NSi, added “Summit Park has been instrumental in supporting NSi’s growth and positioning the Company for an even brighter future.”
BB&T Capital Markets served as the exclusive financial advisor to NSi. For more information please contact Rachel Hannon, (704) 654-3400 ext. 240, at Summit Park.