M&A Deal Summary

Shorehill Capital Acquires Functional Devices

On January 8, 2019, private equity firm Shorehill Capital acquired electronics company Functional Devices

Acquisition Highlights
  • This is Shorehill Capital’s 1st transaction in the Electronics sector.
  • This is Shorehill Capital’s 4th transaction in the United States.
  • This is Shorehill Capital’s 1st transaction in Indiana.

M&A Deal Summary

Date 2019-01-08
Target Functional Devices
Sector Electronics
Buyer(s) Shorehill Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Ice Miller (Legal)

Target

Functional Devices

Sharpsville, Indiana, United States
Functional Devices is a manufacturer of electronic devices, including relays, power supplies, transformers, sensors, enclosures and wireless devices. The Company primarily serves the HVAC, building and lighting controls, energy management and wireless industries. Functional Devices was founded in 1969 and is based in Sharpsville, Indiana.

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Buyer(S) 1

DESCRIPTION

Shorehill Capital is a private equity firm focused on acquiring well-run companies with room for improvement. The Firm seeks companies operating in the engineered products, industrial services, and distribution sectors and will consider opportunities throughout North America. Shorehill prefers profitable businesses with $3 to $15 million of EBITDA. Shorehill Capital is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 8
Sector: Electronics M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 3
State: Indiana M&A 1 of 1
Country: United States M&A 4 of 8
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-07 Power Grid Components

Bessemer, Alabama, United States

Power Grid Components was formed to acquire companies that supply products used in the North American electric power grid. The company supplies high-quality porcelain, glass, and polymer insulators, as well as instrument transformers for revenue metering and protective relaying to electric utilities, substation manufacturers, and other customers who support the grid. Power Grid Components is based in Bessemer, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-07 Triad Technologies

Vandalia, Ohio, United States

Triad Technologies is a full-line distributor of fluid power, fluid connector, hydraulic, pneumatic, and seal products to a diverse customer base throughout Ohio, Kentucky and Michigan. Triad Technologies was founded in 1981 and is based in Vandalia, Ohio.

Buy -