Crestview Partners has acquired Classic Design, a Troy, Michigan-based provider of automation design and systems integration. No financial terms were disclosed. Kroll Corporate Finance served as financial advisor to Classic on the deal.
NEW YORK, NY and TROY, MI, March 1, 2022 – Crestview Partners (“Crestview”), a leading private equity firm, announced today that its recently created automation solutions portfolio company (the “Company”) has completed the acquisition of Classic Design (“Classic”), a Troy, MI-based provider of automation design and systems integration. Following the Company’s acquisition of JMP Solutions, Inc. (“JMP”) in August 2021, Classic is the second acquisition as part of Crestview’s strategy to build a market leading global automation solutions provider. Crestview’s platform is targeting the global $500+ billion market, with a particular focus on the $70 billion global systems integration and connectivity segments, delivering fully automated solutions to customers. Financial terms of the transaction were not disclosed.
Founded in 1974, Classic is a leading designer, developer, and integrator of high-quality and innovative automated systems and solutions across a variety of sectors, including automotive and defense. With end-to-end systems integration capabilities, Classic employs over 120 engineers across five locations, including its headquarters in Troy, MI, and its engineering and manufacturing facilities in India. As part of the transaction, the existing Classic shareholders will receive equity in the combined enterprise. Bharath Reddy will continue in a leadership role at Classic, serving as its President, and John Edwards will serve as VP of Engineering.
“The acquisition of Classic is a natural next step in the creation of this platform,” said John Bubnikovich, Chief Executive Officer of the Company. “The transaction more than doubles the platform’s scale and substantially expands our capacity for growth. We believe the combination of JMP and Classic accelerates our progress towards building a best-in-class global automation solutions provider that designs, engineers and integrates hardware and software to create custom automated solutions across a range of end markets.”
Mike DuBose, the Company’s Executive Chairman said, “We believe there are numerous opportunities to enhance our solutions offerings and customer relationships through the combination of JMP and Classic given their complementary strengths. Classic is the second of many companies we hope to bring together to create a global market leader with operations throughout North America, Europe and Asia.”
Bharath Reddy, President of Classic, said, “We are proud to have built a high-quality provider of automated systems with leading capabilities thanks to the hard work and commitment of our exceptional team members and the loyalty of our customers. The entire Classic team is thrilled about our partnership with Crestview and JMP. We are excited to take this next step in Classic’s evolution alongside Mike DuBose, John Bubnikovich and the rest of the team which they are assembling. We believe Crestview, Mike and John bring a strong track record of leadership in the automation industry, and by bringing together Classic and JMP, we will be able to provide best-in-class solutions to our valued customers.”
Kroll Corporate Finance served as exclusive financial advisor to Classic, with additional support from Doescher Group. Hall Render LP served as legal advisor to Classic, and Gibson, Dunn, & Crutcher LLP served as legal advisor to Crestview.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media and financial services. For more information, please visit www.crestview.com.
About Classic Design
Founded in 1974, Classic is an end-to-end designer, developer, and integrator of custom automation solutions to customers in the automotive and defense sectors. Headquartered in Troy, Michigan, with a global footprint across the US and India and a strong legacy of engineering excellence, Classic is an established and innovative partner that is capable of delivering customized solutions across diverse systems and applications. For more information, please visit www.classic-co.com.
About JMP Solutions, Inc.
Founded in 1987, JMP is an automation systems integrator offering solutions to diverse industrial and consumer end markets. It designs, engineers and integrates hardware and software to automate its customers’ manufacturing, production and distribution facilities. Headquartered in London, Ontario, with an established North American footprint consisting of 15 office locations across the U.S. and Canada, the JMP’s multi-geographic branch model provides it with a strategic advantage over smaller, sub-regional competitors, allowing it to provide targeted, local support while also growing with its blue-chip customer base across geographies and applications. For more information, please visit www.jmpsolutions.com.