NewSpring Capital has sold Raritan to Legrand. No financial terms were disclosed. Based in Somerset, New Jersey, Raritan is a provider of IT infrastructure management solutions.
Radnor, PA – September 30, 2015 – NewSpring Capital, a family of private equity funds providing growth and expansion capital, is pleased to announce that it has successfully exited Raritan, Inc. (“Raritan”), a portfolio company of its dedicated growth and expansion stage fund, NewSpring Growth Capital (“NewSpring”). The exit was a result of the purchase of Raritan by Legrand (EPA: LR).
Since NewSpring’s investment in December 2010, Raritan, a leading provider of IT infrastructure management solutions serving over 76 countries, has successfully executed on its focus of driving geographic expansion and robust growth in their Power Management business. During NewSpring’s holding period, Raritan has grown its revenue in Power Management over 300% led by its intelligent PDU product line. This impressive performance attracted interest from a number of strategic players in the marketplace and led to the eventual decision to be acquired by Legrand.
“It was a pleasure working with Marc Lederman and the NewSpring team over the last five years. My management team and I valued the support and counsel he provided,” said Ching-I Hsu, CEO and Founder of Raritan. “We have successfully realized our goals we set forth at the beginning of our partnership with NewSpring. I am now excited to see Raritan take the next step in its evolution and look forward to its continued growth as it leverages Legrand’s global scale.”
“We are extremely pleased to have been a part of the success at Raritan over the past five years. Ching-I Hsu and his management team have consistently exceeded our expectations since we made our investment in late 2010,” said Marc Lederman, NewSpring General Partner and Raritan Board Member. “The team’s clear vision and focus on execution has yielded a terrific outcome for Raritan , its employees, stakeholders and our investors. I am very confident that the company will be a terrific compliment to Legrand.”
Raritan is a proven innovator of power management, infrastructure management, KVM and serial solutions for data centers of all sizes. In more than 50,000 locations worldwide, Raritan’s award-winning hardware and software solutions – including intelligent PDUs, energy management software, KVM-over-IP and Serial-over-IP access products – provide IT and facility directors, managers and administrators with the control they need to increase power management efficiency, improve data center productivity and enhance branch office operations. Based in Somerset, NJ, Raritan has offices worldwide serving 76 countries. For more information, visit www.raritan.com.
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value is a prime vector for growth. Legrand reported sales of $6.0 billion in 2014. Legrand has a strong presence in North America, with a portfolio of well-known product lines that include C2G, Cablofil, Electrorack, Middle Atlantic, NuVo, On-Q, Ortronics, Pass & Seymour, Quiktron, Vantage, Watt Stopper, and Wiremold. Legrand is listed on Euronext Paris and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, ASPI, Corporate Oekom Rating and DJSI (ISIN code FR0010307819). www.legrand.com.