AEA Investors, a New York-based private equity firm, has bought WorldWide Electric Corporation, a manufacturer and importer of electric motors, motor controls, gear reducers, frequency converters and generators, from Graycliff Partners.
During its partnership with Graycliff, WWE became a developer, producer and distributor of a portfolio of engineered products. The company also completed several acquisitions to expand its product portfolio while also working to diversify ends markets, introduce cross-selling opportunities and add in-house production capabilities.
“We knew from the outset that WWE’s commitment to quality and best-in-class service set the company apart, and we have greatly enjoyed working with the team to build upon this foundation to grow the company both organically and through acquisition,” comments Brandon Martindale, a partner at Graycliff. “The company is well positioned for continued success and we are confident AEA Investors is the ideal partner to take the company forward.”
Lazard served as financial advisor for Graycliff Partners and WWE.