BJG Electronics, Inc. and Rockwood Equity Partners Announce Investment Partnership
Electronics Industry Veteran Glenn Davidson Named Executive Chairman of BJG
RONKONKOMA, N.Y., Sept. 1, 2016 /PRNewswire/ -- Long Island, N.Y.-based BJG Electronics, Inc. (www.bjgelectronics.com) and Rockwood Equity Partners (www.rockwoodequity.com) announced an investment and partnership today at BJG's headquarters. The relationship between the two companies includes Rockwood Equity Partners making a sizeable investment in BJG Electronics. Distribution industry veteran Glenn Davidson also was named as BJG's Executive Chairman of a newly assembled board of directors representing the combined shareholder groups. The current BJG leadership team, including Rick, Jim and Joe Flora, will retain their senior roles going forward.
BJG Electronics was established by Joseph Flora in 1979 as a distributor of interconnect components and value added services. The company has grown rapidly in recent years under the leadership of Joseph Flora's sons Rick, Jim and Joe and is well recognized as a leading specialty interconnect distributor to many of the world's largest military and aviation OEMs.
Since 1999, Rockwood Equity Partners has been an investor in and partner to a variety of middle-market businesses across a wide range of industries. Rockwood brings considerable experience and success in distribution, including operating related businesses in the aerospace sector. Teaming with former A E Petsche Company CEO Glenn Davidson, Rockwood brings BJG a combined resume that should be very attractive to BJG's demanding customer and supplier communities.
Current BJG COO, Rick Flora, noted "Retaining our strong leadership team, including Joe and Jim Flora, along with the addition of Rockwood and our new Chairman, Glenn Davidson, should allow BJG to expand and offer our customers, employees and suppliers growth opportunities we might not have been able to implement on our own. This team, along with Rockwood's willingness to make further investments in the business, will allow us to meet these high expectations."
Rockwood's Managing Partner, Brett Keith, expressed, "The BJG opportunity is a hand-in-glove fit with Rockwood's investment strategy and expertise. Given that BJG is a value-added distributor of interconnect products used in aerospace applications, we are well positioned to support the company's growth ambitions given our relevant expertise. Without question, however, the most exciting part of the BJG investment is the opportunity to partner with best-in-class incumbent leadership, including Rick, Joe and Jim Flora, each of whom will remain with the company, while also adding key industry veterans like Glenn Davidson. Glenn successfully ran and built A E Petsche Company to become the gold standard of companies in this niche area of electronics distribution. We believe that, with Glenn and the Flora brothers, we can build a highly successful, industry-leading company that we will pursue through both organic and acquisition-driven growth." Glenn Davidson added "I am delighted to serve as the new Chairman of BJG Electronics and to partner with Rockwood. I admired BJG as a formidable competitor to A E Petsche Company when our two firms competed and am honored to be joining forces with two industry leaders-Rockwood and BJG."
BJG and Rockwood intend to maintain the current BJG locations and employees and are expected to announce plans for additional facilities, products and value-added services in the coming months. In addition, BJG and Rockwood plan to invest in expanding BJG's successful range of RF cable and connector offerings.
About BJG Electronics, Inc.
Based in Ronkonkoma, NY, BJG Electronics, Inc. is a value-added distributor and light manufacturer of high reliability electronic components serving the defense, commercial aerospace and business aviation markets. For more information, visit www.bjgelectronics.com.
About Rockwood Equity Partners
Founded in 1999, Rockwood Equity Partners is a private investment firm focused on the lower middle market. The firm invests in corporate carve‐outs, as well as privately‐owned manufacturers, value‐added distributors, and industrial services companies that often have more complexities to the business situation or transaction. For more information, visit www.rockwoodequity.com.
SOURCE Rockwood Equity Partners
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