CVC and Greenbriar Announce Recapitalization of Radwell International

CVC and Greenbriar to support continued rapid growth and expansion

WILLINGBORO, N.J. & NEW YORK & RYE, N.Y.--(BUSINESS WIRE)--CVC Capital Partners VIII (“CVC Fund VIII”), has invested in Radwell International, LLC (“Radwell” or the “Company”), a global distributor of new and surplus industrial automation components. CVC Fund VIII is acquiring an interest in the Company from founder & CEO Brian Radwell and Greenbriar Equity Group, L.P. (“Greenbriar”), both of whom will remain significant shareholders going forward. Financial terms of the private transaction were not disclosed.

Founded in 1979, Radwell is a leading specialty distribution and light manufacturing business that provides new and refurbished industrial automation components for the repair and maintenance of production and processing equipment on plant floors. The Company focuses on the aftermarket for mission-critical components and is dedicated to keeping customers’ facilities operating efficiently. Headquartered in Willingboro, NJ, the company operates nine facilities in the United States, Canada, United Kingdom and Germany.

The investment from CVC Fund VIII will support Brian Radwell and the management team in executing against their multi-year expansion program focused on domestic and international growth as well as selective M&A opportunities across the business’s geographies and product sets.

Brian Radwell, President and CEO of Radwell, commented, “We have truly enjoyed working with Niall McComiskey and the Greenbriar team and are thrilled that they have reinvested in Radwell. Our partnership with Greenbriar enabled Radwell to significantly accelerate growth and innovation which allowed us to scale rapidly. We are also very excited to bring on CVC as a new partner, whose global resources and experience building businesses will enable us to pursue new avenues of growth in the U.S. and worldwide. CVC’s values are fully aligned with our business and I am confident that we have chosen the perfect partner for the next stage of our development.”

James Christopoulos, Senior Managing Director at CVC, said, “Radwell is a fantastic business which has evolved into a leader, well-known for providing its customers with a unique and critical service. We value its employee-centric culture focused on continuous improvement and are delighted to partner with Brian and his excellent team. We look forward to supporting the next stage of Radwell’s growth domestically, internationally and through strategic acquisitions.”

Niall McComiskey, Managing Partner at Greenbriar, said, “Radwell is an incredibly special business and we are honoured to have supported Brian and the Radwell team as their first institutional partner. The Radwell team has built a market-leading automation MRO platform that is underpinned by unparalleled proprietary data and a passionate team with deep technical expertise. We are proud of our partnership with the management team, and we are excited to support the next chapter of growth alongside Radwell and CVC.”

Baird and Houlihan Lokey served as financial advisors to Radwell. Barclays and Morgan Stanley & Co. LLC served as financial advisors to CVC.

About Radwell International

Radwell is a distributor of new, surplus, and reconditioned industrial automation and electronic control equipment for plant floor and facilities maintenance machinery. The company also has full component-level repair capabilities, offering comprehensive solutions for all products across the full industrial automation equipment lifecycle. Radwell stocks and sells over 26 million unique industrial parts such as programmable logic controllers, data control systems, integrated circuits, timers, servo motors, and much more. Radwell is an authorized distributor and application solution provider for brand new OEM manufactured products of over 300 brands. The company is headquartered in Willingboro, New Jersey, and has nine locations globally across the United States, Canada, the United Kingdom, and Germany. For further information about Radwell International, please visit www.radwell.com.

About CVC

CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately US$122 billion of assets under management. Since its founding in 1981, CVC has secured commitments in excess of US$165 billion from some of the world's leading institutional investors across its private equity and credit strategies. Funds managed or advised by CVC are invested in over 100 companies worldwide, which have combined annual sales of approximately US$120 billion and employ more than 500,000 people. For further information about CVC please visit: www.cvc.com. Follow us on LinkedIn here.

About Greenbriar

Founded in 1999, Greenbriar is a middle market private equity firm, with more than $6 billion of aggregate capital commitments across its five funds, focused on investments in market-leading services and manufacturing businesses. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. For more information, please visit www.greenbriarequity.com.