Grakon LLC, provider of lighting and electronics products for OEM vehicle manufacturers, acquired the business and assets of Hamsar Diversco, Inc. Grakon, headquartered in Seattle, is owned by Industrial Growth Partners.
Grakon LLC, a global leader in the design, development, and manufacturing of custom lighting and electronics products for premier OEM vehicle manufacturers, has acquired the business and assets of Hamsar Diversco, Inc. Grakon, headquartered in Seattle, Washington, was acquired by Industrial Growth Partners in October 2014.
Hamsar is a leader in designing and manufacturing custom lighting and electronics solutions for various specialty end markets including the bus, off-road/powersports, industrial equipment and heavy truck segments. Hamsar’s design, engineering and manufacturing capabilities enable the company to provide customized lighting solutions across a range of technologies, including LED, halogen and Xenon/HID, to a blue-chip list of global OEM customers. The company operates from its headquarters facility located in Burlington, Ontario.
“With Hamsar and Grakon together, we will expand our product offering, manufacturing capabilities and the breadth of end markets we serve. Hamsar’s founder, Fred Kelly, has built an impressive organization and assembled a great team, and we are excited to welcome Hamsar into the Grakon family,” said Dave Paborsky, President & CEO of Grakon.
Acquisition Details – On May 10, 2016, Grakon acquired the business and assets of Hamsar, supported with additional equity from Industrial Growth Partners IV, L.P., management and certain outside investors. IGP and Grakon continue to seek add-on acquisitions that can enhance Grakon’s position as a leading global designer and manufacturer of advanced lighting and electronics systems. To learn more about Grakon and Hamsar, please visit www.grakon.com and www.hamsar.com.
Industrial Growth Partners, founded in 1997, is a San Francisco-based private equity investment firm with $2.2 billion of equity capital raised since inception. The firm invests exclusively in middle-market companies in the industrial sector in partnership with management teams.