Branford Castle has sold E-Mon, a Langhorne, Penn.-based provider of smart energy submeter systems and software, to Honeywell Inc. (NYSE: HON). No financial terms were disclosed.
Cobblestone | Harris Williams is pleased to announce that E-Mon, LLC, a portfolio company of Branford Castle, Inc., has been acquired by strategic buyer Honeywell (NYSE:HON), a $33 billion diversified technology and manufacturing leader. The transaction closed on July 21, 2010. Cobblestone | Harris Williams acted as exclusive advisor to E-Mon, and the transaction was led from the firm’s Richmond office by Harold Williams and Karl Kirkeby, along with Drew Spitzer and Tiff Armstrong of Harris Williams & Co.’s Energy & Power Group.
E-Mon, headquartered in Langhorne, Pennsylvania, is the leading designer and manufacturer of smart energy submeter systems and integrated energy intelligence software. With a nearly 30-year history, the E-Mon D-Mon® brand is the most widely recognized suite of hardware, software and services in the market. The company’s solutions are used by commercial and industrial (C&I), multi-tenant office and residential, government, and institutional end-users for tenant billing, load profiling analysis, demand-side management, energy conservation, cost allocation, and green building initiatives, among other uses.
Branford Castle is a New York-based investment company that joins with management teams to help grow small to medium-sized private companies, often over an indefinite holding period. Founded in 1986 by John K. Castle, the current CEO and Chairman of the multi-billion dollar private equity firm Castle Harlan, Branford Castle aims to augment strong companies that are leaders in their respective industry niches. During its partnership with Branford Castle, E-Mon was able to further solidify its industry-leading capabilities and best position itself for the rapidly expanding energy efficiency and green energy markets.
Honeywell is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, New Jersey, Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges.
Cobblestone | Harris Williams (www.cobblestonehw.com) is a specialty group of Harris Williams & Co. Cobblestone provides trustworthy advice and superior execution on private company sales, corporate divestitures, acquisitions, recapitalizations, restructurings, and complex valuations for lower-middle market transactions. Cobblestone’s professionals have advised on M&A and financing transactions representing more than $5 billion in value since 1998, making it one of the nation’s most experienced and successful advisors dedicated solely to the lower middle market.
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