All Current Electrical Sales, an electrical products wholesaler owned by High Road Capital Partners, has made two acquisitions: Western Controls & Breakers, a Ventura, Calif.-based wholesaler of motor control products and circuit breakers; and Industrial Electric Systems, a wholesaler of circuit breakers and related accessories located near Seattle. No financial terms for either transaction were disclosed.
High Road Capital Partners (www.highroadcap.com) today announced that its portfolio company All Current Electrical Sales (“All Current”) has completed two add-on acquisitions: Western Controls and Breakers, which closed on July 1, 2009, and Industrial Electric Systems, which closed on May 1, 2009. With these acquisitions, All Current substantially expands its geographic presence, adding locations in the West Coast and Pacific Northwest to its existing locations on the East Coast and gulf coast.
All Current Electrical Sales, acquired by High Road and management in September 2008, is an electrical products wholesaler serving the “need-it-now” market for conduit fittings, motor control parts and components, circuit breakers, and wiring devices. Western Controls and Breakers is a wholesaler of motor control products and circuit breakers located in Ventura, California. Industrial Electric Systems is a wholesaler of circuit breakers and related accessories located near Seattle, Washington.
“These two acquisitions mark substantial progress toward All Current’s goal of expanding into attractive geographic markets and creating a nationwide footprint,” said Bob Fitzsimmons, High Road’s Managing Partner. “All Current will be able to offer its newly acquired customers a broader selection of products from one trusted supplier.”
“With its deep inventory, extensive product knowledge, and nationwide service capability, All Current offers a compelling value proposition for electrical distributors looking to increase sales while managing their inventory levels,” said Bob Nabrzeski, President, CEO, and a significant investor in All Current. “With High Road’s backing, we will continue to seek opportunities to expand our geographic footprint, either through add-on acquisitions or opening warehouses, to better serve our customers.”
Transaction consideration for both acquisitions was not disclosed.
Jeff Goodrich was High Road’s lead partner on the transactions. Also working on the transaction from High Road were Partner William Hobbs and Associate Ben Schnakenberg. Over the past 12 months, High Road has completed five transactions—three platform investments and two add-on acquisitions—for its debut fund, High Road Capital Partners Fund I, LP.
For further information, please contact Bob Fitzsimmons of High Road Capital Partners at (212) 554-3265.
High Road Capital Partners
High Road Capital Partners is a leveraged buyout firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $150 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $2 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level, with the expectation of doubling or tripling EBITDA during the course of its ownership through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
All Current Electrical Sales is a wholesale distributor of electrical parts and components focused on the “need it now” market. Founded in 1981, All Current is based in Pennsauken, New Jersey, with distribution facilities in Camden, New Jersey; Houston, Texas; Baton Rouge, Louisiana; Seattle, Washington; and Ventura, California. More information on All Current may be found on its website, www.allcurrent.com.