High Road Capital Partners has sold All Current Electrical Sales Inc to EBSCO Industries. No financial terms were disclosed. Piper Jaffray provided advice to All Current on the transaction. All Current is a specialty reseller of electrical components.
NEW YORK, February 24, 2015 – High Road Capital Partners (www.highroadcap.com) has sold portfolio company All Current Electrical Sales, Inc., marking the fourth exit for the firm’s debut fund, High Road Capital Partners Fund I, LP. All Current is a leading specialty reseller of electrical components utilized across a broad range of commercial and industrial end markets. The sale closed on February 17, 2015. Transaction terms were not disclosed.
All Current was acquired by EBSCO Industries, Inc., through its new platform investment division, EBSCO Capital, and management. EBSCO is a privately owned, family business headquartered in Birmingham, Alabama, that seeks to acquire quality middle-market companies and grow their profitability over the long term.
“During High’s Road ownership, All Current’s revenue grew by 58 percent and the company established a significant national presence,” said Bob Fitzsimmons, High Road’s Managing Partner. “All Current exemplifies our strategy of buying niche leaders and working with management to build bigger, more efficient, and qualitatively better businesses. In partnership with All Current, we executed our value creation strategy by completing three add-on acquisitions, implementing IT systems upgrades, and enhancing sales and marketing capabilities.”
Robert Nabrzeski, CEO and a co-founder of All Current, said, “With High Road’s support, we achieved significant growth in our core business serving the ‘need-it-now’ market for industrial electrical components, and deepened our private-label offerings and custom controls solutions, while building out our management team to support further growth. These investments solidify All Current’s position as a trusted partner to its customers.”
Partners Jeff Goodrich, Bill Hobbs and Ben Schnakenberg led the High Road investment team. Piper Jaffray advised All Current in the transaction. Jones Day provided legal counsel to the company. High Road Capital Partners has completed 34 transactions – 12 platform investments, 18 add-on acquisitions and four exits – since its founding in 2007. The firm most recently exited Handi Quilter in December 2014.
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 private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $470 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level 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.
EBSCO Capital seeks to make long-term, control investments in quality middle-market companies. As a division of EBSCO Industries, it has significant financial and operational resources at its disposal along with $300 million in committed equity capital for new platforms. EBSCO Industries is a privately held conglomerate with 40+ businesses and over $2.0 billion in annual revenues. Founded in 1944, EBSCO Industries has a long track record of profitable growth through acquisitions and is consistently ranked in the top 200 of the nation’s largest privately held corporations according to Forbes Magazine. More information on EBSCO Capital may be found on its website, www.ebscocapital.com.