Key Takeaways
- • MPE Partners portfolio company Intermatic has acquired Sunrise Technologies (Sun-Tech), a Raynham, Mass., maker of outdoor lighting-control and power-connectivity products; terms were not disclosed.
- • CIBC US and Manulife Investment Management provided financing for the deal, and Jones Day advised MPE Partners.
- • Sun-Tech sells more than 1,000 SKUs under the Sunrise Technologies, Fisher Pierce Outdoor Lighting Controls and Ripley brands to utilities, municipalities, contractors and OEMs.
- • Intermatic, of Libertyville, Ill., serves more than 2,000 customers across lighting, irrigation, HVAC/R and pool and spa energy management controls.
- • MPE, based in Cleveland and Boston, targets lower middle market companies with EBITDA of $8 million to $40 million.
Summary
MPE Partners portfolio company Intermatic has acquired Sunrise Technologies, known as Sun-Tech, a Raynham, Massachusetts-based manufacturer of outdoor lighting-control and power-connectivity products, according to the announcement. Terms of the transaction were not disclosed. CIBC US and Manulife Investment Management provided financing, and Jones Day served as legal advisor to MPE Partners.
Sun-Tech designs, engineers and assembles photocontrols, power taps, contactors and other outdoor lighting products for utilities, municipalities, contractors and original equipment manufacturers. The company sells more than 1,000 SKUs under its Sunrise Technologies, Fisher Pierce Outdoor Lighting Controls and Ripley brands.
Intermatic, headquartered in Libertyville, Illinois, makes energy management controls for lighting, irrigation, HVAC/R and pool and spa applications and serves more than 2,000 customers. Kevin Kosobud, Intermatic's chief product officer, said Sun-Tech's photocontrol and power-connectivity technology complements Intermatic's existing lighting and energy management controls.
MPE, with offices in Cleveland and Boston, invests in lower middle market companies with EBITDA between $8 million and $40 million.
Sun-Tech designs, engineers and assembles photocontrols, power taps, contactors and other outdoor lighting products for utilities, municipalities, contractors and original equipment manufacturers. The company sells more than 1,000 SKUs under its Sunrise Technologies, Fisher Pierce Outdoor Lighting Controls and Ripley brands.
Intermatic, headquartered in Libertyville, Illinois, makes energy management controls for lighting, irrigation, HVAC/R and pool and spa applications and serves more than 2,000 customers. Kevin Kosobud, Intermatic's chief product officer, said Sun-Tech's photocontrol and power-connectivity technology complements Intermatic's existing lighting and energy management controls.
MPE, with offices in Cleveland and Boston, invests in lower middle market companies with EBITDA between $8 million and $40 million.
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