CLEVELAND and BOSTON, April 23, 2025 -- MPE Partners ("MPE" or "Morgenthaler Private Equity") announced today an investment in Intermatic, LLC ("Intermatic" or the "Company"), a family-owned energy management solutions company that designs and manufactures electrical and mechanical controls for general lighting, outdoor lighting, irrigation, water heating, HVAC/R, and pool & spa applications. The Company has cultivated strong brand equity from its 130+ year operating history and is the preferred brand for electrical contractors based on product quality, innovation, and availability as well as customer service and support. Intermatic's products offer tangible energy efficiency and cost savings benefits to end users. The Company serves customers across residential, commercial, utility, and industrial end markets through electrical distributors and other channels.
MPE partnered in the transaction with the current management team, including Rick Boutilier, President and Chief Executive Officer, who will continue to lead Intermatic in its next phase of growth. Rick noted, "MPE's cultural fit, experience with family-owned businesses, and successful history of providing strategic and operational resources to help accelerate growth made them the preferred partner for Intermatic." Rick further commented, "This is an exciting new chapter for Intermatic. For more than 130 years, customers have trusted us to deliver innovative and reliable lighting control and energy management solutions. This investment from MPE propels us forward and allows us to continue that mission."
Constantine Elefter, Partner at MPE, said, "It's rare to find a company like Intermatic that has a rich history and brand name but is also dedicated to growth, product innovation, and manufacturing excellence. We're thrilled to start this journey together and look forward to supporting the organization as it builds for the future." Lukas Sontich, Vice President at MPE, added, "We're equally excited about pursuing complementary add-on acquisitions that provide new products within the broader electrical category in order to enhance Intermatic's value proposition with customers."
CIBC US and Manulife Investment Management provided financing to support the transaction. Jones Day served as legal advisor to MPE. Terms of the transaction were not disclosed.
About Intermatic
Headquartered in Libertyville, IL, with facilities in El Paso, TX, and Juarez, Mexico, Intermatic is a global energy management solutions company designing and manufacturing electrical and mechanical controls and related products for general lighting, outdoor lighting, irrigation, water heating, HVAC/R, and pool & spa applications. Intermatic's core values ensure quality products, technical expertise, and attentive service. The Company provides solutions for facilities, municipalities, manufacturing, agriculture, commercial, residential, and construction markets. For more information, please visit www.Intermatic.com.
About MPE Partners
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $8 million and $40 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.
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