Everything gets tested before it goes out, Horner said. 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. However, by then, Brian had graduated from high school, so he joined his father, Jerry, in taking control of Speck Industrial. The company focuses on the aftermarket for mission-critical components and keeps customers facilities operating efficiently. These were like little mom-and-pop, out-of-the-garage shops, Horner said. CVC Capital has acquired Radwell International, a distributor of new and surplus industrial automation components. Consequently, there were occasions when a drive, maybe two, would malfunction, and theyd have to wait while the drive was repaired. Thats not in your warehouse. Funds managed or advised by CVC are invested in over 100 companies worldwide, which have combined annual sales of approximately US$120 billion and employ more than 500,000 people. The venture-capital company has invested in Radwell. Its probably somewhere, where you have to go and find it., Horner told the fellow what Radwells database indicated. Radwell stocks and sells over 26 million unique industrial parts such as programmable logic controllers, data control systems, integrated circuits, timers, servo motors, and much more. SURPLUS ITEMS, REPAIR WORK 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 U.S. and worldwide. CVC and Greenbriar to support continued rapid growth and expansion. 2022 Greenbriar Equity Group, L.P. All rights reserved. For further information about CVC please visit: www.cvc.com. In that recounting, Brian described Radwell International as selling and repairing industrial electrical devices and electronic control devices with products ranging from timers to circuit breakers to PLCs to motors and any other devices used to make machinery run.. He then added that Radwell could also replace it. In the right situation, Radwells surplus inventory can be very useful to industry. Twenty-two years can make a big difference. The Rad Step 2020 is a small, aluminum plate that can be screwed into the bottom of a door, on its free side, not its hinged side. Catherine Clifford FROM SHIPPER TO CEO Click junior and senior PE roles - Private Equity Wire, JP Morgan Hires Tim Henn To Lead Secondary Investments In Private For CVC Theramex is a global specialty pharmaceutical company dedicated to women and their health. Repair or Replace: Radwell and Legacy Industrial Electronics, Abrasives, Belts, Brushes, Grinding Wheels, Computerized Maintenance Management Systems, Lubricants, Coolants, Metalworking Fluids. Greenbriar Equity was formed in 1999 and is based in Rye, New York. Your Company Listed, Submit After clicking on a story, use the back arrow in your browser to return to your search results. TikTok, Stellex, New York private equity firm, opens office in Downtown The Firm targets equity commitments of $1000 to $1000 million per transaction. (See RADWELL IS INTERNATIONAL below. Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment for plant floor and facilities maintenance machinery. Radwell started offering surplus items about 20 years ago, in the early 2000s. We value its employee-centric culture focused on continuous improvement and are delighted to partner with Brian and his excellent team. According to Horner, the idea for the added service came from Radwells president and CEO, Brian Radwell. Back then, Speck primarily repaired industrial electronics, but it also sold new products. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. For further information about Radwell International, please visit www.radwell.com. Subsequently, in 1986, Jim Speck decided to close shop. seven-year hold, US Law Firms Line Up as French Football Gets 1.5B Private Equity Radwell is an authorized distributor and application solution provider for brand new OEM manufactured products of over 300 brands. WHEN PREPARATION MEETS OPPORTUNITY Radwell International Inc. has nine locations. Financial terms of the private transaction were not disclosed. Website. 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 U.S. and worldwide. The company also has full component-level repair capabilities, offering comprehensive solutions for all products across the full industrial automation equipment lifecycle. The Company markets a broad range of branded and branded generic products across 50 countries around the world. Headquartered in Willingboro, NJ, the company operates nine facilities in the United States, Canada, United Kingdom and Germany. Despite its growth during the last 20 years, Radwell appears poised for more growth. Six are in the United States, but three locations are in other countries. A link has been emailed to you - check your inbox. CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately US$122 billion of assets under management. 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. Horner said Radwell uses the shop to make spares of parts that it knows often fail in the field: Now, rather than us having to go out and find these, we can make them in-house., And if theres an unusual situation, the machine shop can be turned to other purposes. For more information, please visitgolubcapital.com. CVC Capital Partners was formed in 1981 and is based in Luxembourg. The other eight locations are in: NEW PRODUCT, SURPLUS PRODUCT Copyright 2022 Alliance Communications, Inc. All Rights Reserved. The company also has full component-level repair capabilities, offering comprehensive solutions for all products across the full industrial automation equipment lifecycle. Not the case? round - Private Equity Wire, Warburg Pincus sells majority stake in Reorg to Permira - Private Founded in 1999, Greenbriar is a middle market private equity firm, with more than $6 billion of aggregate capital commitments across its five funds, focused on investments in market-leading services and manufacturing businesses. Horner recalled that the right situation once occurred when he was working at Radwells booth during IMTS 2016 in Chicago, IL. When Brian started in the early 80s, Speck Industrial was led by Jim Speck, but a small percentage of the company was owned by Brians father, Jerry. DART Aerospace is a designer, manufacturer, and marketer of certified solutions for the helicopter and aerospace industry. The first was in the United Kingdom, the second was in Canada. The starter is sold with a two-year warranty, like every item sold or repaired by Radwell. Baird and Houlihan Lokey served as financial advisors to Radwell. Click here. The repair house doesnt offer a type of product thats clearly used by the fabricating industry, the metal-cutting industry, or the metal-forming industry, as examples. Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment for plant floor and facilities maintenance machinery. Golub Capital acted as Left Lead Arranger and Administrative Agent on a $1.3 billion unitranche facility to finance CVC Capital Partners acquisition of a controlling interest in Radwell International, Inc. from Greenbriar Equity Group. However, theres a cost attached to buying a new part. Some businesses are choosing to work with financial professionals, such as asset-based lenders, to improve their liquidity position for the short and long term. Neolith is an innovative architectural surface with superior technical characteristics, made from 100% natural raw materials. The item popped right up, Horner said, and the guys eyes light up. Horner remembered the mans surprise, remembered him asking: You can repair this, and it comes with a two-year warranty?. The financing consists of a $1.1 billion first-lien term loan, $150 million first-lien delayed-draw term loan and a $60 million multi-currency revolver. When typing in this field, a list of search results will appear and be automatically updated as you type. We were still doing a lot in repair, Horner said, but this surplus started to complement the repair.. At that point, Horner asked the group lead, Do you know the part number?, The man said he did, so Horner used his computer to access Radwells website, to access its parts database. Which industries Radwell serves depends on which companies call it. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. continental Europe - Private Equity Wire, ICG almost doubles Europe VII to close 8.1bn fund VIII, Virescent Ventures leads AUD42.5m Series A funding round in Green Equipment Finance Advisor, Inc. All rights reserved. In that sense, Speck and Radwell are alike. Follow us on LinkedIn here. Try For Free This is another example of our ability to deliver unitranche facilities of significant scale, while also providing committed growth capital, to high quality companies like Radwell in support of the investment objectives of two outstanding sponsors in CVC and Greenbriar, said Spyro Alexopoulos, Senior Managing Director and Head of Originations at Golub Capital. The groups lead also said the manager had suggested the plant might need to upgrade the whole system so the site could be rid of the problematic drives. It looks like JavaScript is disabled in your browser. Newcastle Under Lyme, Staffordshire, United Kingdom. The groups lead said that according to the manager in charge of maintaining the plants machines, the drive was obsolete, so it was difficult to repair. He estimated that Radwell employs close to 1,000 people. So, depending on your needs, you could find: Joe Hazelton is an editor of Fabricating & Metalworking. For more information, please visit www.greenbriarequity.com. Its headquarters has a machine shop with two CNC machines. Youre going to pay a premium for that, Horner said. Naturally, over time, Radwells surplus inventory can become reduced in size. Radwells inventory includes a variety of industrial electronics, such as this motor protective starter. Horner remembered him saying: So, its going to take how long to get that surplus? We have just sent you an email so you can verify your account. WILLINGBORO, N.J. & NEW YORK & RYE, N.Y.--(BUSINESS WIRE)--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. Neolith was founded in 2009 and is based in Almazora, Spain. CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. Media ContactGolub CapitalAleka Bhutiani, Director of Strategic Communications[emailprotected], Cision Distribution 888-776-0942 "This is another example of our ability to deliver unitranche facilities of significant scale, while also providing committed growth capital, to high quality companies like Radwell in support of the investment objectives of two outstanding sponsors in CVC and Greenbriar," said Spyro Alexopoulos, Senior Managing Director and Head of Originations at Golub Capital. Baird and Houlihan Lokey served as financial advisors to Radwell. Brian Radwell commented, We have truly enjoyed working with Niall McComiskey and the Greenbriar team and are thrilled that they have reinvested in Radwell. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The company also has full component-level repair capabilities, offering comprehensive solutions for all products across the full industrial automation equipment lifecycle. Emmert, Chubb Buys Cignas Life Insurance Business, Care Access Buys Instituto Brasil de Pesquisa Clnica, Relation Insurance Acquires Dunn Insurance, Youngsoft Invests in Enterprise Software Solutions, Class Technologies Acquires Blackboard Collaborate, Fortis Solutions Group Buys Anchor Printing, Levine Leichtman Appoints New Head of Europe, GEF Capital Partners Purchases Lifecycle Renewables, Morningstar Acquires Praemius UK Business, Azelis Acquires the Distribution Assets of Ak-ta, Riveron Consulting Purchases Clermont Partners, WebMD Health Corp Buys Mercury Healthcare, Inszone Insurance Buys G.M. One location is Radwells headquarters, which is in Willingboro, NJ. 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. Radwell stocks and sells over 18 million new and refurbished surplus industrial parts such as programmable logic controllers, data control systems, integrated circuits, timers, servo motors, and much more. Eventually, in 2002, Jerry died at his home in Medford, NJ. The idea is: We want to triple our sales, Horner added, and continue to add more locations., And Greenbriars interest in Radwell? Founded in 1999, Greenbriar is a middle market private equity firm, with more than $6 billion of aggregate capital commitments across its five funds, focused on investments in market-leading services and manufacturing businesses. | Privacy Policy, Much of Radwells work involves the repair of industrial electronics that are malfunctioning and the inspection of industrial electronics that are bought as surplus items. From that start, Brian eventually became the head of Speck Industrial, as recounted on Radwell Internationals website. Thats saying there are 26 of these in our facility, ready to go, to be shipped out with a two-year warranty., Completely floored, Horner said. CVCs investment is being made through its seventh fund, CVC Capital Research and Due Diligence Platform for Investors, Most Visited Alternative Investment Industry However, Speck Industrial was struggling. SERVING MANY INDUSTRIES The portfolio, which is dedicated to women's health, focuses on contraception, fertility, menopause and osteoporosis and includes key brands such as Ovaleap, Zoely, Seasonique, Actonel, Estreva and Lutenyl. CVCs 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.. Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment for plant floor and facilities maintenance machinery. Our partnership with Greenbriar enabled Radwell to significantly accelerate growth and innovation which allowed us to scale rapidly. Follow us on LinkedIn here. Those three different surplus items, theyll have different price scales, Horner said. One option is: The company can contact the original equipment manufacturer to have the servomotor repaired by replacing any failing parts. CVC can handle transactions valued from 250 million to 10 billion. We had, like, maybe 26 of them in stock, he recalled. 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Since its founding in 1981, CVC has secured commitments in excess of US$165 billion from some of the world's leading institutional investors across its private equity and credit strategies. The company could be in the pharmaceutical industry, the food-processing industry, or the power-generation industry. The company is headquartered in Willingboro, New Jersey, and has nine locations globally across the United States, Canada, the United Kingdom, and Germany. We look forward to supporting the next stage of Radwell's growth domestically, internationally and through strategic acquisitions. He never knew there was a company like this.. CVC is a leading global alternative investment manager focused on private equity, secondaries and credit with a global network of 25 local offices and 125 billion of assets under management. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors. CVC Capital Partners, through its Fund VIII has acquired an interest in Radwell International, a distributor of automation components, from CEO Brian Radwell and Greenbriar Equity Group. Please check your spam or junk folder just in case Get the latest news happening around the CVC network. 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That line is long and diverse. However, it can refresh that supply by looking for factories that have too many spare parts or that are closing, as examples. Besides repairing parts and selling parts, Radwell also makes parts. Only logged in subscribers of this site will be able to access the shared article. (Photos taken by Julie Basello for Radwell International Inc.). not be reproduced, distributed, transmitted, cached or otherwise used without written He started at the repair house back when it was Speck Industrial Controls, when he was 15 years old. CVC Capital Invests in Radwell International, Assured Healthcare Partners Closes Latest Fund, One Equity-Backed OMNI Mergers with Purity Oilfield, New Mountain Capital Acquires PerkinElmer Business Unit, MEAG Invests in H.R.L. They see where weve gone and what weve done.. 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. Since its founding in 1981, CVC has secured commitments in excess of US$165 billion from some of the world's leading institutional investors across its private equity and credit strategies. In 2005, Speck Industrial Controls became Radwell International. Radwell was founded in 1979 and is based in Staffordshire, United Kingdom. Copyright 2012-2022 The company is headquartered in Willingboro, New Jersey, and has nine locations globally across the United States, Canada, the United Kingdom, and Germany. Equity Group - AlphaWeek, ICG raises 8.1bn for eighth vintage of flagship European Corporate With its surplus parts, Radwell could serve many customers who needed parts right now. 1,500 crore - Business Insider India, Barclays Hunts for Private Banking Deals Amid Singapore Rebuild - BNN, New research reveals disparity between proportion of women employed in Use phrases "in quotes" or the tools below to better filter your results. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. 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 global automation solutions leader invests in US manufacturing with plans of a second expansion in three years to meet growing need. And later on, he suffered a massive stroke that left him paralyzed. Horner listened as they explained that their plant operated with a number of machines that used a certain type of drive, a drive that sometimes broke down. Then, theres Radwells testing department. So, if youre looking for a stamping press or a lathe or a cold-forming machine, look elsewhere. Unfortunately, the heart attack was only the start of Jerrys medical problems. The added service is much of the reason for the difference between Speck and Radwell. The Company focuses on the aftermarket for mission-critical components and is dedicated to keeping customers' facilities operating efficiently. consent from ABL Advisor, Incorporated. DART Aerospace was founded in 1975 and is based in Saint-Laurent, Quebec. 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.. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriars deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. 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. Convene, 117 West 46, New York, Get limited access to our industry news, analysis and data, plus regular email updates. Its able to pick these items very quickly, Horner said. To read the full story, please upgrade your plan. More specifically, they worked at one of the automakers plants, and they had a problem. Radwell is a 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.
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