IRON MOUNTAIN, Mich. and WEST PALM BEACH, Fla., March 28, 2018 (GLOBE NEWSWIRE) -- Systems Control (or “the Company”), a best-in-class designer and manufacturer of customized, highly engineered control panels and electrical substation equipment enclosures for the transmission and distribution industry, today announced that Comvest Partners (“Comvest”) has acquired the Company.
Founded in 1962 and headquartered in Iron Mountain, Michigan, Systems Control manufactures equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America. The Company is recognized by electric utility providers for its leadership in supplying high quality, critical components to ensure the reliable operation of the electrical grid.
“Systems Control has an outstanding reputation in the electric utility industry,” said Lee Bryan, Partner at Comvest. “We admire the leadership of the Company in building a respected business with a culture of operational excellence and we look forward to partnering with the Company’s management and employees to support the continued growth and commitment to serving its customers.”
David Brule, Sr., majority shareholder of Systems Control, will remain on the board of directors and Brad Lebouef, CEO, and the rest of the management team will continue with the Company in their existing leadership roles.
“This transaction is a milestone for Systems Control,” Brad Lebouef added. “We have seen tremendous growth in our business over the years and we look forward to working with the Comvest team as we continue to grow as an organization and serve the North American electric utility industry from our headquarters in Iron Mountain.”
DCS Advisory (the successor entity to Sagent Advisors) acted as exclusive financial advisor and Godfrey & Kahn, S.C. acted as legal advisor to Systems Control. Comvest was advised by Stifel and McDermott Will & Emery.
About Systems Control
Systems Control specializes in engineering and manufacturing of equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America. The Company’s manufacturing operations are located in Iron Mountain, Michigan. For more information, please visit www.systemscontrol.com.
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $3.0 billion in over 160 companies. Today, Comvest’s funds have over $3.1 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit www.comvest.com.
For more information:
Brad Lebouef, CEO, Systems Control – brad.lebouef@systemscontrol.com
Lee Bryan, Partner, Comvest Partners – l.bryan@comvest.com