TKO Miller, LLC, a leading middle-market investment bank, today announced the acquisition of Phoenix Products Company, Inc., by JMC Capital Partners of Boston, Massachusetts and Company management.
Based in Milwaukee, WI, Phoenix is a 126-year-old company and is a leading manufacturer of rugged industrial lighting products for the world’s harshest environments. For over seven decades, Phoenix has been the most trusted lighting manufacturer for heavy equipment, corrosive conditions, hazardous locations, and other demanding applications and is a global market leader in the lighting of ports, mines, marine, and other commercial and industrial markets.
JMC intends to grow the Company's presence in the lighting industry. “We are pleased and excited to add Phoenix to the JMC portfolio as a new platform for rugged LED lighting,” said David Logan, Operating Partner at JMC. “Phoenix’s management team has done an excellent job at growing their business, and we look forward to continued success.”
Scott Fredrick, CEO of Phoenix, shares this enthusiasm for this next step. “JMC presents great opportunities for our future in this industry,” states Fredrick. “As a 126-year-old manufacturer, we know the value of adaptability and perseverance. JMC’s strategy is a perfect fit for Phoenix and its plan for long-term growth.”
“We believe that this is truly a transaction that benefits all parties,” said Joe Froehlich, Managing Director at TKO Miller. “In addition to providing the Wordingham family with an attractive sale transaction, the Phoenix management team will now have an important ownership role in the Company. Phoenix will have access to greater capital that will allow the Company to expand more rapidly and reach greater scale, which should be good for both JMC and the Phoenix employees.”
This completed transaction adds to TKO Miller’s experience in the industrial manufacturing industry.