M&A Deal Summary

Methode Electronics Acquires Grakon

On August 20, 2018, Methode Electronics acquired automotive company Grakon from Industrial Growth Partners for 420M USD

Acquisition Highlights
  • This is Methode Electronics’ 3rd transaction in the Automotive sector.
  • This is Methode Electronics’ largest (disclosed) transaction.
  • This is Methode Electronics’ 11th transaction in the United States.
  • This is Methode Electronics’ 1st transaction in Washington.

M&A Deal Summary
Date 2018-08-20
Target Grakon
Sector Automotive
Buyer(s) Methode Electronics
Sellers(s) Industrial Growth Partners
Deal Type Add-on Acquisition
Deal Value 420M USD
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Kirkland & Ellis (Legal)

Target

Grakon

Seattle, Washington, United States
website
Grakon LLC is a designer and manufacturer of highly-engineered and customized lighting systems and components for transportation markets. Grakon was founded in 1977 and is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Methode Electronics

Chicago, Illinois, United States

website

Category Company
Founded 1946
Sector Electronics
Employees7,000
Revenue 1.2B USD (2022)
DESCRIPTION

Methode Electronics is a global developer of custom engineered and application specific products and solutions with manufacturing, design and testing facilities in China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States. Methode Electronics was founded in 1946 and is based in Chicago, Illinois.

DEAL STATS #
Overall 14 of 14
Sector (Automotive) 3 of 3
Type (Add-on Acquisition) 11 of 11
State (Washington) 1 of 1
Country (United States) 11 of 11
Year (2018) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Pacific Insight Electronics

Burnaby, British Columbia, Canada

Pacific Insight Electronics Corp. is a designer, developer, manufacturer and delivery of electronic products and full service solutions to the automotive, commercial vehicle and specialty markets. Pacific Insight provides OEMs as well as Tier 1 and Tier 2 customers with a range of cost competitive products including LED lighting systems, electronic control modules and wire harnesses.

Buy $114M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-19 Methode Electronics - Active Energy Solutions

Chicago, Illinois, United States

Methode Electronics, Inc.'s Active Energy Solutions (AES) provides integrated safety electronics and thermal management for individual cells.

Sell -

Seller(S) 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 2.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 23 of 32
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 10 of 16
State (Washington) 1 of 1
Country (United States) 23 of 32
Year (2018) 3 of 3
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 IOTA Engineering

Tucson, Arizona, United States

IOTA Engineering LLC is a maker of back-up power supply equipment for commercial, industrial and institutional emergency lighting applications. The Company provides a comprehensive portfolio of products that supplies light fixtures with emergency power to maintain code-compliant illumination after loss of power. IOTA is a market innovator that has developed a number of technology solutions (some patented) for LED lighting applications that have the broadest compatibility in the industry. The Company, founded in 1968, is well-positioned to continue its growth given its broad and comprehensive product line and its industry-leading reputation for technology, quality and superior customer service.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 BMG

Beaverton, Michigan, United States

BMG is a provider of turnkey thermoforming and packaging systems for the food & beverage market. BMG offers a broad portfolio of highly-engineered thermoforming and automation equipment, in addition to best-in-class tooling and a comprehensive offering of post-sale parts, service and support. BMG was founded in 1952 and is based in Beaverton, Michigan.

Buy -
Mergr

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Company

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