Graham Powers Up With Latest Exit
August 18th, 2021
Graham Partners, a private investment firm targeting technology-driven advanced manufacturing companies, is pleased to announce the successful sale of Myers Emergency Power Systems, LLC (“Myers EPS”). Going forward, Graham will remain a partner of Myers EPS by way of an investment through funds advised by Graham alongside of the new lead financial sponsor, Kohlberg & Company (“Kohlberg”). Graham is confident in the company’s value creation opportunities and is excited to continue its investment in Myers EPS. Headquartered in Bethlehem, Pennsylvania, Myers EPS is a leading designer and assembler of highly engineered, mission critical emergency lighting power solutions and smart controls technology. Through its cutting-edge innovation and advanced Internet of Things (“IoT”) technology, Myers EPS is able to provide customers with customized integrated emergency power solutions, while maintaining energy conservation requirements. Myers EPS is vertically integrated with strong research and development capabilities and reliable products, resulting in the company’s position as a category leader in this high-growth niche market.
Graham Partners identified emergency power solutions technology as a high-growth investment niche through its Investment Theme Program and in 2018 acquired Myers EPS outside of a competitive process. Graham’s investment thesis for Myers EPS was premised on the company’s ability to capitalize on the conversion from individual battery backups to inverter solutions for emergency lighting applications.
Graham actively partnered with Myers EPS to further catalyze the company’s role as an industry leader and innovator. These initiatives included strategically assembling an experienced, growth-oriented executive management team; undergoing a full rebranding exercise; refocusing the sales and marketing strategy to aggressively pursue the emerging high-growth data center and warehouse sector opportunities; expanding engineering capabilities to develop innovative new products at the leading edge of IoT, smart building, and sustainability trends; investing in enhanced manufacturing capabilities to implement lean initiatives and increase throughput; and implementing margin improvement initiatives for strategic sourcing and value engineering product redesigns. Overall, these efforts drove new business wins for Myers EPS and increased margins, leading to approximately 130% EBITDA growth since Graham’s acquisition, including throughout the COVID-19 pandemic. Additionally, Graham led the acquisition of Low Voltage Systems by Myers EPS in 2019, which allowed the company to offer not only emergency backup power solutions, but also smart lighting controls for those solutions.
Rob Newbold, Managing Principal at Graham Partners, said, “With Myers EPS we saw the opportunity to invest in a strong core business with numerous avenues for growth fueled by favorable macro trends. We are proud to have helped develop a leading designer and manufacturer of highly engineered backup power technology and we are excited to partner with new ownership to continue Myers EPS’ success.” John Daly, Chief Executive Officer of Myers EPS, added, “Graham was a value-added partner for Myers EPS, playing an integral role in accelerating our growth trajectory. The leadership and investment Graham provided allowed our company to outgrow and outpace the rest of the market, while solidifying our role as an industry leader.”
Myers EPS, headquartered in Bethlehem, PA, is a leading designer and assembler of highly engineered, mission critical emergency lighting power solutions and smart controls technology. The company uses its cutting-edge innovation and IoT technology to provide customers with integrated technology and emergency backup power solutions. Their sustained role as an industry leader allows them to pave the way in the emergency power solutions market, while setting and maintaining a competitive and topline standard.
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