Cleveland, Ohio (July 27, 2022) – Cleveland private equity firm, CW Industrial Partners, LLC (“CWI”), announces the sale earlier this month of Ripley Tools, a manufacturer of professional hand tools and test and measurement equipment for the fiber optic, coaxial cable, telecom and electrical utility markets to Hubbell Incorporated (NYSE:HUBB). Terms of the deal were not disclosed.
CWI acquired Ripley Tools from a family office in 2014. Over the course of its ownership, CWI carved the business out from a holding company, oversaw the transformation of the senior leadership team, made substantial investments in the operational and engineering capabilities of Ripley, successfully integrated two add-on acquisitions, and achieved meaningful growth through the enhancement of its sales and marketing functions.
“It has been a pleasure working with the Ripley organization during our ownership period. The Ripley brands are synonymous with quality and innovation in its served end markets, and the team has done a remarkable job executing on initiatives to build the foundation for further growth. We believe Ripley complements Hubbell’s current offerings and Hubbell will be an ideal partner as Ripley enters into its next chapter,” said John Corrigan, Partner at CWI.
John Jutila, CEO of Ripley, also commented “We’re very proud of the achievements we have experienced under CWI’s ownership. We are thrilled to be part of the Hubbell organization and partnering with them to serve our existing customer relationships while supporting the development of new strategic opportunities.”
Todd Martin, CWI Managing Partner, added “We would like to thank the Ripley team for an outstanding partnership across the past eight years. We wish both Ripley and Hubbell great success going forward. I would also like to thank the CWI transaction team, in particular Andrew Foster and Georgio Ronis, who were instrumental in driving the successful exit of a complicated transaction in a short period of time.”
Cowen and Company LLC served as exclusive financial advisor to CW Industrial Partners, LLC. Legal counsel was provided by Calfee, Halter & Griswold, LLP.
ABOUT CW INDUSTRIAL PARTNERS: CW Industrial Partners is an industrial focused private equity firm that is backed by knowledgeable investors who partner with it in finding, vetting, and owning companies. Based in Cleveland, Ohio, CW Industrial Partners acquires lower middle-market companies in manufacturing and industrial services industries and gives them the capital, support, and freedom to grow. Recent acquisitions include Bryant Products, ERL, Libra Industries, Essco, Ohio Blow Pipe, C&M Conveyor, Safe-Way Garage Doors and GEMCITY. Founded in 1999, the firm’s investors are primarily successful entrepreneurs and executives who contribute to the evaluation and investment process. CWindustrials.com
Editors: For details, or to schedule an interview contact Todd Martin | [email protected] or 216.472.5545.
| Dick Hollington Managing Partner CW Industrial Partners, LLC |
Todd Martin Managing Partner CW Industrial Partners, LLC |
Mike Harding Partner CW Industrial Partners, LLC |
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