Benzinga, March 13, 2019
|Wednesday, March 13, 2019|
CHICAGO, March 13, 2019 (GLOBE NEWSWIRE) -- Dresner Partners, a leading FINRA-registered, middle-market investment bank and Mergers Alliance member firm, is pleased to announce that it advised France-based Socomec SAS in the acquisition of Boltswitch, Inc., a Crystal Lake, Illinois-based company that manufactures bolted pressure contact switches for electrical switchboards. Terms of the transaction were not disclosed.
Socomec is an independent industrial group with a global workforce of 3,000 people with 21 subsidiaries located across five continents. Its core business provides the availability, control and safety of low voltage electrical networks with a focus on its customers' power performance. In 2017, Dresner Partners advised Socomec on its initial expansion into the North American market which led to the acquisition of Colorado-based Continental Control Systems, which specializes in electric power metering and monitoring equipment for the measurement of energy and power production and consumption.
"Boltswitch has an excellent reputation in the marketplace with its best in class product line. We are excited to support the continued success of the company while leveraging the broader capabilities of Socomec to accelerate our collective growth within North America," said Thierry Copie, Strategy & Alliances Director of Socomec. "We would like to thank Steve Dresner, Brian Schofield and the entire Dresner team for advising us on this important transaction."
"Not only will Boltswitch expand Socomec's capabilities in power control and safety, the company has built an excellent brand and reputation for quality, which also reflects Socomec's values," said Brian Schofield, Senior Vice President of Dresner Partners.
Steven M. Dresner, President of Dresner Partners added, "We are pleased to continue our role in advising Socomec and believe this synergistic transaction adds significant value to the company's rapidly growing product portfolio."
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