Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has completed the sale of its portfolio company Potter Global Technologies (“Potter” or “the Company”) to investment funds managed by KKR, a leading global investment firm. Gryphon originally invested in the Company in December 2017. Potter will continue to operate under its current management team, led by Chief Executive Officer Gerry Connolly.
Headquartered in St. Louis, MO, Potter is a trusted global provider of fire safety and emergency communication products that protect people and buildings during emergency situations. Potter’s leading products are used for monitoring fire safety systems, detecting fires and other life-threatening events, and notifying and communicating with building occupants and first responders to ensure safe and efficient evacuations and responses. The Company has designed and manufactured proprietary products since 1898 and serves customers across diverse end markets including education, multi-family, industrial, and healthcare.
Leigh Abramson, Partner and Co-Head of Gryphon’s Industrial Growth Group, said, “Gerry and the Potter management team have done a tremendous job in growing Potter through the introduction of new product innovations, delivering operational enhancements and expanding product sets and capabilities through acquisitions. Potter is a great example of Gryphon’s highly differentiated, integrated deal and operations model where meaningful incremental investments in people and systems have led to sustained success. We are extremely pleased with the Company’s trajectory and believe KKR will be a great partner to take Potter to the next level.”
Potter CEO Gerry Connolly commented, “Gryphon’s support and differentiated expertise gave us the resources to expand our market presence and drive growth significantly above our markets. Working with their outstanding operating partners and advisors, we were able to enlarge our R&D and engineering teams, introduce next-generation connected products, and expand our global reach, all of which have contributed to our bottom line and our evolution as a go-to brand in fire safety and emergency communications.”
Wes Lucas, Industrial Growth Operating Partner and Co-Head of Gryphon’s Operations Resources Group, added, “In our early days with Potter, the Company had one product and one manufacturing plant. Through strategic acquisitions, organic growth and operational initiatives, the Company has grown significantly, expanded its addressable market, and is now recognized as a global leader. We are proud of what our partnership with the Potter team has accomplished, and we believe the Company will have a great future under its new owners.”
Harris Williams and Raymond James served as financial advisors to Gryphon, and Kirkland & Ellis LLP acted as legal advisor.
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About Potter Global Technologies
Potter Global Technologies is the leading independent designer and manufacturer of life safety and emergency communication solutions. Through its various business brands, Potter provides fire suppression, alarm and communications systems, mass notification systems, first responder RF radio communications, and advanced power products. The company motto is “We Save Lives” and their employees appreciate the role they play and value working for a company that is making a difference through protecting people, property and critical infrastructure. Their mission is to make buildings and people safer from fire, natural disasters, and acts of violence. Throughout their longstanding 125-year history of developing industry leading technology, Potter has earned a reputation for best-in-class product quality and customer service. The company is headquartered in St. Louis, Missouri, with sales, engineering, and manufacturing centers in the Americas, Europe, and Asia. Discover more about Potter Global Technologies at www.potterglobaltech.com.
About Gryphon Investors
Gryphon Investors (www.gryphoninvestors.com) is a leading middle-market private equity firm focused on profitably growing and competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, and Software sectors. With approximately $9 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertises. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $350 million per portfolio company. The Junior Capital strategy targets investments in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.