Graycliff Partners sells Ambrell Corporation

New York, NY, May 31, 2017 – Graycliff Partners LP, an independent investment firm focusing on middle market private equity and mezzanine investments, is pleased to announce that it has successfully exited Ambrell Corporation, a manufacturer of induction heating products and systems, through a strategic sale to inTEST Corporation. Since its founding over 30 years ago, Ambrell has grown into a leading developer, manufacturer, and marketer of proprietary, branded induction heating equipment. Ambrell is well known for its high quality products, innovative solutions, and ability to serve diverse industries, applications, and geographies.

Since acquiring Ambrell in April 2014, Graycliff has worked with management to further expand the sales and marketing function, rebrand the business, and optimize the company’s systems and operations. Andrew Trigg, Managing Partner, Graycliff Partners, said “We are pleased to have partnered with the management team at Ambrell and are confident the company will thrive as a subsidiary of inTEST. We would like to thank Ambrell’s management team for being such great partners and for their dedication to success.”

“I have greatly enjoyed working with the Graycliff team,” said Tony Mazzullo, Ambrell’s President & CEO. “Graycliff provided substantial strategic support and a breadth of resources, enabling us to transform and grow Ambrell. We are proud of the outcome for all and now look forward to this next chapter as a division of inTEST.”

About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States. The Graycliff team has worked together for over two decades, prior to 2011 as the US private equity division of HSBC Bank. Graycliff seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.

Deal Contacts:

Andrew Trigg
atrigg@graycliffpartners.com
(212)-300-2903

Brandon Martindale
bmartindale@graycliffpartners.com
(212)-300-2909