Gryphon-Backed Shermco Industries Acquires Electrical Manufacturing and Distributors, Inc.
SAN FRANCISCO and WICHITA FALLS, Texas, Aug. 27, 2019 /PRNewswire/ -- Shermco Industries, Inc. ("Shermco" or the "Company"), the leading independent provider of electrical testing, maintenance, and repair services in North America, announced that it has acquired Electrical Manufacturing and Distributors, Inc. ("EMD"). EMD is a leading provider of process controls services including automated control systems design, systems integration, electrical engineering, custom programming, and fabrication of power distribution centers, electrical racks, and control panels. Based in Wichita Falls, Texas, EMD services customers in the midstream oil and gas market.
Bill Mohl, CEO of Shermco, said, "EMD's process control expertise will be a complementary service line to Shermco's current portfolio of services, which will allow us to better serve our customers as well as offer expanded services to EMD's customer base." Mr. Mohl added, "We anticipate continuing our acquisition strategy to expand our presence in new markets and broaden our service offerings."
"Shermco brings a strong book of customers with significant need for our process control solution. We look forward to driving growth together," said Bruce Parker, the President of EMD. The EMD management team will remain with the Company post-close.
Shermco is majority-owned by San Francisco-based Gryphon Investors, a leading middle-market private equity firm. Terms of the transaction were not disclosed.
About Shermco
Headquartered in Irving, Texas, Shermco provides electrical testing, maintenance, commissioning, and repair services to a wide range of utility, industrial, energy, and other end markets. With more than 25 locations, Shermco serves a diversified blue-chip customer base across North America. The Company is an active participant in the InterNational Electrical Testing Association, Electrical Apparatus Service Association, and American Wind Energy Association. For more information, please visit www.shermco.com.
About EMD
EMD was established in 1984 by professional engineers with 40 years of combined experience in the electrical power generation and mining industries. In the early '90s, the EMD business focus transformed from power generation to systems integration and automation of process controls. EMD has 4 offices and over 100 employees. EMD's broad range of services offers businesses of every size the choice of project specific work or full turnkey solutions — from automated control systems design, to systems integration to electrical engineering, custom programming, and fabrication of power distribution centers, electrical racks, and control panels.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $4.9 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $100 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon's capital, specialized professional resources, and operational expertise.
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SOURCE Gryphon Investors
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