Leadec strengthens its business in the USA with two acquisitions
Stuttgart (Germany), 11 January 2022 - Leadec, a portfolio company of Triton Fund IV and one of the leading providers of technical services in the automotive and manufacturing industries, is further expanding its business in the USA with the acquisition of two new companies. As of Dec. 31, 2021, the company acquired Meiners Electric, an electrical installation company in Louisville, Kentucky. Industrial Maintenance & Services of Belton, an electrical and mechanical service provider based in Belton, South Carolina, has been part of the Group since Nov. 30, 2021.
"We are always where our customers need us to be. Louisville and Greenville are two of our six regional hubs in the USA. In addition to our core automotive business, more and more companies from other industries are relying on our long-standing factory expertise, e.g. in integrated facility management, which combines technical and infrastructural FM from a single source," explains Don Kennon, Managing Director Leadec North America.
Meiners Electric is headquartered in Louisville, Kentucky, and employs about 100 people. The company has been in business since 1974, providing low- and high-voltage, construction and maintenance services and serving customers within a 100-mile radius in a variety of industries, including automotive, parcel, and food and beverage. The acquisition significantly increases Leadec USA's project capabilities. It also creates synergies between Meiners Electric and Diversified Automation, another Leadec company in Louisville.
Industrial Maintenance & Services of Belton (IMS), based in Belton, South Carolina, was founded in 1988 and is a full-service provider for electrical and mechanical projects with approximately 75 employees. IMS of Belton operates in the greater Anderson, Greenville and Spartanburg areas, where many companies in the automotive and manufacturing industries are located. The acquisition strengthens Leadec's presence in South Carolina and expands its services to other industries such as textiles, healthcare and chemicals.
Service specialist for factories
In total, Leadec has acquired three companies in the U.S. within a year, starting with Diversified Automation in December 2020. "The acquisitions are part of our growth strategy in the U.S. and diversification into other industries such as shipping centers or food & beverage, as well as a stronger focus on project business to complement our ongoing site business. We are excited to continue to grow together and expand the services we provide to our customers," said Markus Glaser-Gallion, CEO of Leadec.
Leadec thus employs around 2,000 people at 50 different customer sites in the USA and has been operating there since 2005. Annual sales are in excess of $300 million. Leadec supports its customers in the manufacturing industry along the entire production chain to ensure that their machines and systems run smoothly.
Leadec is the leading global service specialist for factories across their entire life cycle and related infrastructure. The company, which is headquartered in Stuttgart, Germany, employs about 20,000 people worldwide. In 2021 Leadec earned sales of around EUR 950 million*. For 60 years, Leadec has been supporting its customers along the entire production supply chain. The service provider is based at more than 300 sites, often directly at the customers’ plants and facilities.
Leadec’s global services comprise: Engineer (Production Planning & Optimization, Automation and Production IT), Install (Electrical Installation, Mechanical Installation and Relocation), Maintain (Production Equipment Maintenance and Technical Cleaning), Support (Technical Facility Management, Infrastructural Facility Management and Logistics) as well as other local services. The Leadec.os digital business platform is used to record all processes end-to-end and integrate further digital services.
*preliminary figures for 2021
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer and healthcare sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.
The 50 companies currently in Triton’s portfolio have combined sales of around EUR 18.1 billion and employ around 104,500 employees.
For further information: www.triton-partners.com