High Road Capital Partners has acquired All Current Electrical Sales Inc., a wholesale reseller of electrical parts and components used in heavy duty industrial, infrastructure and energy applications. No pricing terms were disclosed. Debt financing was provided by US Bank, PNC Bank and Babson Capital Management.
High Road Capital Partners (www.highroadcap.com) has completed the second transaction for its debut fund, High Road Capital Partners Fund I, LP, with the acquisition of All Current Electrical Sales, Inc. (www.allcurrent.com), which closed on Sept. 26, 2008. Based in Camden, New Jersey, with locations in Houston, Texas a! nd Baton Rouge, Louisiana, All Current is a wholesale reseller of electrical parts and components used in heavy duty industrial, infrastructure, and energy applications, including conduit fittings, circuit breakers, motor control systems, and wiring devices.
“With its deep inventory, sophisticated information systems, and high level of customer service, All Current is a reliable source of product for customers who are aggressively managing their inventory levels,” said Robert Fitzsimmons, High Road’s Managing Partner. “The company has an outstanding management team that is passionate about serving the ‘need-it-now’ electrical products market. All Current is extremely well positioned to benefit from the long-term growth and ongoing maintenance requirements in the industrial, infrastructure, and energy markets.”
Bob Nabrzeski, President, CEO, and a significant investor in All Current Electrical Sales added, “We are looking forward to continuing our growth in partnership with High Road. We see tremendous opportunity to expand our operations while continuing to provide exceptional service to our customers. With High Road’s backing we also hope to expand our geographic footprint by making strategic add-on acquisitions and opening warehouses in attractive but underpenetrated markets.”
Debt financing for the transaction was provided by US Bank, PNC Bank, and Babson Capital Management, LLC. Mufson, Howe, Hunter & Co. advised All Current’s shareholders on the transaction. Transaction consideration was not disclosed.
Also working on the transaction from High Road were Partners Jeffrey Goodrich and William Hobbs, and Associate Ben Schnakenberg.
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 deals. 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.