Seacoast backs ElectroCraft’s acquisition of Hansen Corp

Seacoast has made an undisclosed investment in ElectroCraft to support its buy of Hansen Corp. Based in Dover, New Hampshire, ElectroCraft is a provider of fractional-horsepower motor and motion control solutions for medical, industrial, and commercial applications. Hansen Corp, which is located in Princeton, Indiana, is a motor manufacturer.


Seacoast Capital (“Seacoast”) announced today that it has made an investment in ElectroCraft, Inc. to support its acquisition of Hansen Corporation, a leading manufacturer of a variety of motion control solutions, including DC Motors, Synchronous Motors, and Clock Movements, among others. Headquartered in Dover, NH, ElectroCraft is a leading provider of highly engineered and custom motion control solutions, primarily consisting of fractional horsepower motors, actuators, and drives that are utilized across a wide range of demanding medical, industrial, and commercial applications.

The acquisition of Hansen Corporation greatly expands ElectroCraft’s product portfolio, enhances its application engineering capabilities, and results in a platform that provides comprehensive fractional and sub-fractional solutions to the motion control markets. “We were looking for the right kind of financing partner to provide the junior capital necessary for the Hansen acquisition,” said Mike Karsonovich, President and Chief Executive Officer of ElectroCraft, Inc. “Seacoast’s team was very responsive, completed their diligence on our business in a short period of time and delivered on their promises. We look forward to working with Seacoast to continue the growth of ElectroCraft with the Hansen acquisition and, potentially, future acquisitions.”

Tom Gorman, Partner at Seacoast Capital, stated “We believe that the business combination of ElectroCraft and Hansen will result in an industry leading platform within the motion control sector. Seacoast is excited to partner with ElectroCraft’s management and we look forward to our ongoing support of the business.”

About ElectroCraft, Inc.
ElectroCraft, Inc. is a leading global provider of fractional-horsepower motor and motion control solutions for medical, industrial, and commercial applications. The company specializes in dependable, application-engineered specialty products to consistently meet the needs of its customers worldwide. The company’s solutions are found in pumps, office equipment, medical devices, aircraft and thousands of other applications. ElectroCraft is headquartered in Dover, New Hampshire with operations in the United States, Europe, and Asia.

About Seacoast Capital
Seacoast Capital was founded in 1994 to make non-controlling subordinated debt and equity investments in privately-held lower middle market companies. Seacoast specializes in “sponsorless” transactions, preferring to invest directly with company owners or management teams, although it will selectively consider investments led by professional investor groups. Seacoast typically provides between $3 million and $12 million of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations. While industry agnostic, Seacoast broadly invests in the specialty manufacturing, value-added distribution, and business services sectors. Seacoast generally targets investments in companies with $10 million to $150 million in revenue and $2 million or more of EBITDA. With offices in Boston and San Francisco, Seacoast has invested over $260 million in over 20 states since 1994. Seacoast is currently investing its third fund, Seacoast Capital Partners III, L.P.