Audax Private Equity (“Audax”) and S.J. Electro Systems, Inc. (“SJE” or the “Company”), a leading manufacturer of control solutions for the water and wastewater industry, today announced the formation of a strategic partnership under which Audax acquired a majority stake in SJE. Terms of the transaction were not disclosed.
SJE’s control solutions platform includes three trusted brands: CSI Controls, PRIMEX, and SJE Rhombus. The Company’s integrated engineering and manufacturing capabilities provide innovative solutions that allow municipalities, industrial customers, and homeowners to meet their liquid level control needs. With a global network of seven locations and a worldwide customer base, SJE has consistently executed in the highly fragmented water controls market and has grown both organically and through six acquisitions since 2005.
Dave Thomas, President and Chief Executive Officer of SJE, said, “As demand for our products continues to grow, we believe that now is the right time to bring on a partner that can provide strategic capital as well as operational and financial expertise. Partnering with Audax, a firm with a well-respected and successful track record of helping middle-market companies drive value, represents a significant opportunity for the future of our company and its stakeholders, most notably our customers and employees. It is an honor to welcome Audax to the SJE family.”
Read more/Source: Business Wire
