Summit Park Recapitalizes Control Company
Summit Park is pleased to announce the recapitalization of Control Company ("Control" or the "Company"), a leading manufacturer and supplier of digital analytical and measurement equipment to the scientific laboratory community.
Founded in 1974 by the Cooney family, Control sells an extensive array of private label and branded laboratory equipment including thermometers, timers, tools, humidity gauges, hygrometers, and conductivity tools. Unique among its competitors, substantially all of the Company's products are individually calibrated and tested and sold with a Traceable® Calibration Certificate issued from the Company's calibration laboratory, which is accredited by the American Association for Laboratory Accreditation.
"We are very excited to continue our partnership with Control Company, and we look forward to working together to build on the Company's historical success," said Jim Johnson, Managing Partner at Summit Park. Mike Blazes, CEO of Control, added, "Summit Park has been an excellent partner for Control, and we look forward to working with them to execute on the next phase of our growth plan."
Since its original investment in the Company in 2011, Summit Park has supported Control's expansion of its domestic and international sales efforts, entrance into new end markets, and growth of its portfolio of products, with particular focus on products designed to provide monitoring and data management capabilities to its end user customers. Summit Park is actively working with Control to identify attractive acquisition candidates that would expand its product portfolio, end markets, and geographic presence.
The transaction marks Summit Park's second investment in its recently closed second fund, Summit Park II. Summit Park continues to pursue investment opportunities in the broader test and measurement industry, with specific focus on sensors, monitoring devices and wireless systems, calibration products and services, and precision measuring devices. For more information please contact Rachel Hannon, (704) 654-3400 x240, at Summit Park.
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a wide range of industries, including business services, outsourced services, light manufacturing and distribution. Summit Park targets businesses with revenue between $20 and $100 million and located in the Mid-South, Mid-Atlantic and Southeastern regions of the United States. The firm's capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visit www.summitparkllc.com.