Grakon LLC, a maker of lighting and electronics for automobile manufacturers, Hamsar Diversco Inc., which also manufactures lighting and electronics for vehicles. Terms of the deal were not disclosed.
Seattle-based Grakon, which was purchased Industrial Growth Partners in 2014, designs, develops and manufactures custom lighting, electronics and engineered trim components for vehicles. Hamsar, based near Toronto, develops and manufactures custom lighting and electronics for vehicle and industrial markets. Hamsar designs and makes products with halogen, high intensity discharge and light-emitting diode, or LED, lighting.
“With Hamsar and Grakon together, we will expand our product offering, manufacturing capabilities and the number of end markets we serve,” says Dave Paborsky, Grakon’s CEO. Industrial Growth Partners, management and outside investors also invested equity for the Grakon deal and will continue to look for add-on acquisitions With the transaction, Grakon’s Don Bartlett has been named vice president and general manager of Hamsar, following 13 of work years at Grakon.
The automotive products segment has been a busy one for middle-market deals. Earlier this month, Discount Ramps, backed Rotunda Capital Partners, acquired another ramp maker, Heavy Duty Ramps; Also in May, auto car products company Handstands, backed by Trivest Partners, purchased the Eagle One car care brand from Niteo Products LLC, which is owned by Highlander Partners LP; and in March, Trivest Partners sold Take 5 Oil Change Inc. to automotive company Driven Brands—backed by Roark Capital.