BGL Announces the Sale of Freedom Electronics to Summit Park
Jan 15, 2019, 09:17 ET
CLEVELAND, Jan. 15, 2019 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Freedom Electronics, LLC (Freedom), a portfolio company of Range Light LLC (Range Light), to Summit Park LLC. BGL's Diversified Industrials team served as the exclusive financial advisor to Freedom. The specific terms of the transaction were not disclosed. To learn more about BGL's Diversified Industrials Group, please visit: www.bglco.com/industrials.
Freedom Electronics is a leading remanufacturer and reseller of high-value electronic components for mission-critical equipment, including circuit boards, LCD displays, controllers, power supplies, card readers, printers, sensors, scanners, and gauges. The company serves a diverse and longstanding base of service companies, distributors, end users, and aftermarket suppliers. Through continuous investment in engineering and information technology systems, Freedom has built a scalable infrastructure positioning the company for growth and new market expansion.
Rod Smith, CEO of Freedom, said, "BGL did a phenomenal job understanding our business and representing Freedom in a very active transaction process. We couldn't be happier with the results."
Steve Groya, Shareholder of Range Light, said, "From start to finish, the BGL team did everything they said they would and more. We are very pleased with the outcome of the transaction for our shareholders."
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Consumer, Diversified Industrials, Environmental & Industrial Services, Healthcare & Life Sciences, Metals & Metals Processing, and Real Estate. BGL has offices in Atlanta, Chicago, Cleveland, Denver, Philadelphia, San Antonio, and San Diego, in addition to international offices in more than 50 countries across 5 continents through our Global M&A Partners network. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
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