Chamberlain Group Elevates Inventive Technology Leader as New CEO

OAK BROOK, Ill., Jan. 5, 2022 /PRNewswire/ -- Chamberlain Group, a global leader in smart access solutions, is pleased to announce Jeff Meredith as the new Chief Executive Officer (CEO). Meredith has served with the company for three years as President and Chief Operating Officer, executing Chamberlain Group's transformation strategy. He replaces JoAnna Sohovich, who will move to Chair of Chamberlain Group's Board of Directors. Meredith will continue to build upon and execute against the transformation initiated under Sohovich moving the company from one that manufactures access hardware to one that creates seamless access experiences by connecting people, points of entry, and events. Chamberlain Group remains uniquely positioned to provide scalable smart access to connected homes, communities, businesses, facilities, and vehicles.

In November 2021, Chamberlain Group was acquired by Blackstone, positioning the company, under Meredith's leadership, for accelerated growth with expanded resources and expertise. Meredith plans to continue scaling Chamberlain Group hardware and software businesses into adjacent product categories and new end markets, partnering with Blackstone portfolio companies across residential, commercial, and industrial real estate applications. He will build on the company's leading position in research and development and product innovation to continue creating smart access solutions for Chamberlain Group's customers.

"Despite facing numerous headwinds, our business is flourishing, which I believe shows the strength of our strategy, reflects the resiliency and determination of our people, and showcases our strong customer relationships. With Blackstone's partnership, we will be able to capitalize on new market opportunities, build new meaningful industry relationships, and continue to meet our customers' needs with quality, innovation, and excellence," said Jeff Meredith, Chamberlain Group CEO. "I thank JoAnna for her leadership and her continued support and partnership, and I look forward to continuing our solid operational growth."

During his tenure, Meredith has advanced several access innovations with Chamberlain Group. He led the rapid growth of customers using the myQ software platform and has expanded the service offerings available, most notably the Amazon Key In-Garage Delivery service. Other innovative products launched under Meredith's leadership include LiftMaster Secure View™, the first-ever garage door opener with a built-in camera and two-way communication; the CES 2021 Innovation Award winning myQ Pet Portal; the myQ Auto Connected Garage, allowing drivers to secure and monitor their garage door using their in-dash touchscreen; the LiftMaster Smart Video Intercom for multifamily living; and myQ Dock Management, a software solution that connects access points in a warehouse environment.

Peter Wallace, Global Head of Core Private Equity at Blackstone, and Seth Meisel, a Senior Managing Director at Blackstone, said: "Jeff's combination of talent, experience and leadership ability make him an exceptional choice to continue driving the ongoing transformation of the business, together with Chamberlain Group's impressive management team."

About Chamberlain Group
Chamberlain Group, a Blackstone company, is a global leader in smart access solutions across residential and commercial properties. Our prominent brands LiftMaster®, Chamberlain®, Merlin® and Grifco® are found in millions of residential and commercial access applications across the globe. Our innovative products and partnerships, powered by our myQ® smart ecosystem, provide customers with smart access solutions to move safely through garages, homes, communities, businesses and storage facilities. Chamberlain Group pioneered vehicle-to-home connectivity through patented technology aboard hundreds of millions of vehicles. Chamberlain Group includes Controlled Products Systems Group, a leading wholesale distributor of perimeter access control equipment in the U.S., and Systems, LLC, one of North America's leading dock leveler manufacturers. Further information is available @ www.chamberlaingroup.com. Follow Chamberlain Group on Facebook, LinkedIn and Twitter.

About Blackstone
Blackstone is the world's largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

SOURCE Chamberlain Group