Summit Park Completes Sale of NSi Industries
May 17, 2016 • Charlotte, North Carolina
Summit Park, a private equity firm focused on investing in lower middle market companies, is pleased to announce the sale of NSi Industries ("NSi" or "The Company"), a leading supplier of electrical connectors, to Blue Sea Capital.
NSi is headquartered in Huntersville, North Carolina and the Company's roots date back to 1922 when Tork, Inc. was founded as a manufacturer of mechanical time switches and controls. Today, NSi is a leading supplier of a wide variety of electrical connectors for construction, maintenance and repair applications. NSi's well-known brands include Polaris™ insulated connectors, Tork® time and lighting controls, and Easy-Twist™ wire connectors. The Company's products are sold to end users primarily through the electrical distributor channel, and NSi enjoys broad placement at over 5,000 branch locations throughout the United States and Canada. Summit Park acquired a majority interest in NSi in 2012.
"We have had a great partnership with NSi, and we are proud of what the Company has accomplished through our ownership period. We look forward to following their continued success," said Jim Johnson, Managing Partner at Summit Park. Axel Rasmussen, founder and Chairman of the Board of NSi, added "Summit Park has been instrumental in supporting NSi's growth and positioning the Company for an even brighter future."
BB&T Capital Markets served as the exclusive financial advisor to NSi. 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 and outsourced services, light manufacturing and distribution. Summit Park targets businesses with revenue between $20 and $100 million 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.
NSi is a leading supplier of a wide variety of electrical connectors including insulated connectors and mechanical, digital time controls, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. NSi's well-known brands include Polaris™ insulated connectors, Tork® time and lighting controls, and Easy-Twist™ wire connectors. The company's products are sold to end users primarily through the electrical distributor channel, and NSi enjoys broad placement at over 5,000 branch locations throughout the United States and Canada. NSi differentiates itself through highly recognizable, category-leading brands, a broad product line, high fill and on-time delivery rates, and a consistent pipeline of new products. For more information, visit www.nsiindustries.com.