NEW YORK--Graycliff Partners, an independent investment firm focusing on middle market private equity and mezzanine investments, announced that it has acquired a majority stake of 901D, LLC (“901D”), the largest US provider of engineering, design, assembly and integration services for highly-engineered, ruggedized consoles and protective enclosure systems. The current owners, Serge Seguin and Aldric Seguin, will continue to be significant shareholders and members of the company’s Board of Directors. The investment was made from Graycliff’s latest buyout fund, Graycliff Private Equity Partners III LP.
Headquartered in Tallman, NY, 901D is the leader in its industry segment and also manages the testing and qualification of these protective enclosure-based systems that are typically tailored to meet customers’ exact specifications. 901D’s large and diverse customer base includes over 120 active customers, with its top 10 clients averaging a relationship with 901D for over 10 years.
“We are excited to work with 901D’s outstanding management team and continue to build out the company’s product portfolio as the maritime electronics industry is poised for new opportunities,” said Stephen Hindmarch, Managing Director, Graycliff Partners. “We look forward to a very strong partnership as we help 901D expand into new end industries and reach as many customers as possible.”
“We believe Graycliff is the right partner to support the next phase of 901D's development,” said Frank Duvergne, CEO of 901D. “We have a powerful vision for the future of 901D and we will continue to see it validated by the ongoing growth of 901D's product and service capabilities and loyal clients, and now by this partnership with an experienced private equity firm.”
“We are pleased to have Graycliff as a powerful new partner,” said Serge Seguin, 901D. “Graycliff will bring considerable financial resources and experience to 901D in support of its future growth.”
In 2014, the New York State Common Retirement Fund allocated $50 million to Graycliff Partner’s latest buyout fund. “We are pleased that the New York State Common Retirement Fund can play a role in helping New York businesses like 901D grow,” said New York State Comptroller Thomas P. DiNapoli. “Our In-State Investment Program is always on the lookout for opportunities close to home that offer solid returns.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, dividend recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.