CVC Capital Partners VIII ("CVC Fund VIII"), has invested in Radwell International, LLC ("Radwell" or the "Company"), a global distributor of new and surplus industrial automation components. CVC Fund VIII is acquiring an interest in the Company from founder & CEO Brian Radwell and Greenbriar Equity Group, L.P. ("Greenbriar"), both of whom will remain significant shareholders going forward. Financial terms of the private transaction were not disclosed.
Founded in 1979, Radwell is a leading specialty distribution and light manufacturing business that provides new and refurbished industrial automation components for the repair and maintenance of production and processing equipment on plant floors. The Company focuses on the aftermarket for mission-critical components and is dedicated to keeping customers' facilities operating efficiently. Headquartered in Willingboro, NJ, the company operates nine facilities in the United States, Canada, United Kingdom and Germany.
The investment from CVC Fund VIII will support Brian Radwell and the management team in executing against their multi-year expansion program focused on domestic and international growth as well as selective M&A opportunities across the business's geographies and product sets.
CVC's values are fully aligned with our business and I am confident that we have chosen the perfect partner for the next stage of our development.Brian Radwell
Brian Radwell, President and CEO of Radwell, commented, "We have truly enjoyed working with Niall McComiskey and the Greenbriar team and are thrilled that they have reinvested in Radwell. Our partnership with Greenbriar enabled Radwell to significantly accelerate growth and innovation which allowed us to scale rapidly. We are also very excited to bring on CVC as a new partner, whose global resources and experience building businesses will enable us to pursue new avenues of growth in the US and worldwide. CVC's values are fully aligned with our business and I am confident that we have chosen the perfect partner for the next stage of our development."
James Christopoulos, Senior Managing Director at CVC, said, "Radwell is a fantastic business which has evolved into a leader, well-known for providing its customers with a unique and critical service. We value its employee-centric culture focused on continuous improvement and are delighted to partner with Brian and his excellent team. We look forward to supporting the next stage of Radwell's growth domestically, internationally and through strategic acquisitions."
Niall McComiskey, Managing Partner at Greenbriar, said, "Radwell is an incredibly special business and we are honoured to have supported Brian and the Radwell team as their first institutional partner. The Radwell team has built a market-leading automation MRO platform that is underpinned by unparalleled proprietary data and a passionate team with deep technical expertise. We are proud of our partnership with the management team, and we are excited to support the next chapter of growth alongside Radwell and CVC."