Graycliff Partners Announces Investment in Worldwide Electric Corporation
Graycliff Partners LP, an investment firm focusing on middle market private equity and mezzanine investments, announced it has closed on an equity investment in Worldwide Electric Corporation (“WWE”). Headquartered in Rochester, NY, WWE is the largest independent provider of industrial electric motors in the United States.
Founded in 1998, WWE designs, engineers, and distributes company-branded as well as third party-branded electric motors, motor controls, and gear reducers and has developed a highly proficient sales & marketing team, strong engineering and product development capabilities, and a leading brand name in low voltage motors. The company sells to a diversified customer base of over 4,000 integrators, OEMs, and distributors serving a wide array of industrial end-markets. Graycliff’s $15.0 million investment supported the buyout of the business from the company’s two founders who were seeking liquidity for estate planning purposes. Post-closing, Graycliff owns a majority of the company.
About Graycliff Partners LP
Graycliff Partners LP is an investment firm focused on lower middle market investments. 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.