Industrial Growth Partners has bought Grakon, a Seattle-based maker of lighting systems and components for the transportation sector. No financial terms were disclosed.
San Francisco, CA – Industrial Growth Partners, in partnership with management and certain outside investors, has acquired Grakon Holdings LLC (“Grakon” or the “Company”).
Headquartered in Seattle, Washington, and with additional operations in Farmington Hills, Michigan, Helmond, Netherlands, and Dongguan, China, Grakon is a leading designer and manufacturer of highly-engineered and customized lighting systems and components for transportation markets. The Company’s products include customized interior and exterior LED lighting systems, nameplates and trim components for OEMs in the heavy truck, specialty vehicle and rail end markets. The Company is the market leader in the customized lighting market for heavy trucks in North America, and also meaningfully serves customers in Europe and Asia.
“IGP’s familiarity with Grakon’s key end markets through its prior investments and the firm’s deep experience in the industrial sector made IGP an ideal equity partner for us,” commented Dave Paborsky, President and CEO of Grakon. “The Grakon management team is excited about the opportunity to leverage IGP’s experience to help grow our business, to make us a more valuable supplier to our customers and to strengthen our leading position in our core markets. We look forward to capitalizing on the resources this new relationship provides.”
Acquisition Details. On October 31, 2014, Industrial Growth Partners IV, L.P., in partnership with management and certain outside investors, acquired 100% of the Company, marking the sixth platform investment for IGP’s Fund IV. The transaction creates a platform for Grakon to accelerate its growth into new geographies and end markets, and pursue strategic acquisition opportunities. The acquisition is an ideal fit with IGP’s strategy of investing in niche industrial companies with leading market shares and outstanding management teams. To learn more about Grakon, please visit www.grakon.com.
IGP, founded in 1997, is a San Francisco-based private equity investment firm with $1.4 billion of equity capital raised since inception. The firm invests exclusively in middle-market companies in the industrial sector in partnership with management teams.