Electronic Systems Protection, Inc.
- The Lenox Group (“Lenox”) served as exclusive financial advisor to Electronic Systems Protection, Inc. and its subsidiaries (“ESP” or the “Company”) in its sale to Gridiron Capital, LLC (“Gridiron”).
- ESP, headquartered in Knightdale, North Carolina, is the leading manufacturer of power protection technology for the office technology industry. The Company’s devices provide unparalleled protection for equipment vulnerable to electrical power disturbances including surges, ground noise, dirty power disruptions, lightning and other harmful voltage transients. Types of equipment protected include copiers, fax machines, modems and other electronic equipment with microprocessors and other sensitive components.
- The Company’s patented power filtration and power protection technology is certified and approved by the leading standard and safety organizations, and its products have become the choice for power protection by many of the world’s premier electronic equipment manufacturers.
- ESP retained The Lenox Group to explore a sale of the business. The owners were passive and wanted liquidity while allowing the senior management team to continue running operations and participate in the future growth of the Company.
- The Lenox Group advised the Company’s owners on appropriate valuation and negotiated the terms of ESP’s sale to Gridiron.
- Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies.
- ESP’s ownership received full liquidity and the management team secured an equity incentive plan tied to performance. Management also received the opportunity to invest in the Company alongside Gridiron.
- Following the ESP sale transaction, Gridiron retained The Lenox Group to identify acquisition opportunities in the power protection equipment and technology sector. Lenox ran a buy-side process selecting SurgeX as a good candidate for addition to the ESP platform. The team at Lenox assisted Gridiron in negotiating and closing the acquisition transaction.
- SurgeX is the most respected brand of professional quality AC power solutions for protection, power conditioning, and control of sensitive electrical and electronic equipment, especially today’s DSP – and microprocessor-based equipment. SurgeX products are designed to suit a broad array of applications and are offered in as IP addressable solutions and as stand-alone, rack-mount, and NEMA enclosures.