Summit Park said Jan. 9 that it invested in Freedom Electronics via a recap. Financial terms weren’t. Freedom Electronics, of Kennesaw, Georgia, makes and sells over 2,300 electronic components used in fuel dispensers, retail point-of-sale systems, and automatic tank gauges.
PRESS RELEASE
Summit Park Recapitalizes Freedom Electronics
January 9, 2019 • Charlotte, North Carolina and Kennesaw, Georgia
Summit Park, a Charlotte-based private investment firm, is pleased to announce the recapitalization ofFreedom Electronics, LLC (“Freedom” or “the Company”), a leading provider of aftermarket electronic components for use in fuel dispensing and point-of-sale systems, in partnership with the Freedom management team.
Based in Kennesaw, Georgia, the Company remanufactures and sells a portfolio of over 2,300 electronic components used in fuel dispensers, retail point-of-sale systems, and automatic tank gauges. Through the Company’s best-in-class repair procedures, sourcing capabilities, and engineering expertise, Freedom is a trusted partner to a national customer base, including retailers, parts distributors, and equipment service companies. In addition to its parts remanufacturing business, Freedom also provides a logistics and warehousing solution for customers’ electronic components inventory that minimizes downtime and ensures customers always have parts in stock.
Jim Johnson, co-Founding Partner of Summit Park said, “We are excited to partner with Rod Smith and the Freedom leadership team to build on the Company’s historical success. This opportunity was particularly interesting given our investment in Tennessee Industrial Electronics, which repairs and refurbishes industrial electronic components.”
Rod Smith, co-founder and CEO of Freedom, added, “Summit Park is an excellent fit for Freedom. We look forward to leveraging its expertise to partner on many growth and operational initiatives to better serve our customers.”
The transaction is the first investment in Summit Park’s third fund, Summit Park III.
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including business and consumer services, light manufacturing and value-added distribution in the Eastern half of the United States. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visitwww.summitparkllc.com.
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