CPE News (11/10/2021) – Globe Electric Company Inc., a portfolio company of Novacap and Fonds de s, has acquired HeathCo LLC from Transom Capital Group. Financial terms were not disclosed.
Bowling Green, Kentucky based HeathCo is the manufacturer and marketer of HeathZenith branded products. Through innovation we have compiled a large portfolio of patented technologies and products giving us the competitive edge as an industry leader in the intelligent lighting and door chime markets. The HeathZenith brand of products is sold in over 10,000 retail outlets worldwide including home centers, hardware stores, lighting showrooms, wholesale clubs and mass merchants.
Transom Capital Group, a Los Angeles, California based private equity firm, acquired HeathCo in January 2016.
Founded in 1932, Montreal based Globe Electric is a North American leader and innovator in lighting solutions, electrical products, and smart home systems. Coined the Creative Energy Company, Globe Electric is committed to continuous R&D, delivering the best quality products, and leaving a positive impact on the lives of consumers.
In April 2021, Novacap Industries V, in partnership with Fonds de solidarité FTQ and Fondaction, acquired a majority interest in Globe Electric Company from Edward Weinstein and family.
photo credit: HeathCo
News Release
Globe Electric Reinforces Market Leadership Position with the Acquisition of HeathCo
Two leading providers of indoor and outdoor lighting solutions come together to enhance product offering and expand distribution across North America
MONTREAL, Nov. 10, 2021 /CNW Telbec/ – Globe Electric Company (“Globe “), a Montreal-based company specializing in the design, development and manufacturing of innovative consumer lighting and electrical products, today announced that it has acquired HeathCo, an industry leading supplier of security lighting and door chimes, with a large portfolio of patented technologies and products. Leading private equity firm Novacap, who partnered with Globe in May 2021 to help it accelerate its growth trajectory, will continue to support the combined entity as it aims to broaden its product offering and distribution reach across North America.
Recognized for its best-in-class product offering of outdoor lighting, security and motion devices, HeathCo is renowned for the quality of its products. This strategic acquisition will allow Globe to deepen its market leading position in the lighting space by adding new technologies to strengthen it’s already deep portfolio of innovative products
“The acquisition of HeathCo marks a new chapter in Globe’s strategic development, and we are confident that their portfolio will enhance our competitive position in the outdoor security solutions market,” said Edward Weinstein, CEO, Globe. “This will be especially important as we continue to focus on developing new distribution channels across North America. Providing innovation and variety to our customers remains a priority for us, and we are confident that this acquisition will ensure that we continue to deliver above and beyond for our customers.”
“Novacap is thrilled to see the evolution of a great Canadian company like Globe as they deliver on their strategy to expand across new product verticals,” said Michel Côté, Senior Partner, Novacap. “With the acquisition of HeathCo, Globe will be well-equipped to maintain its market leadership position and generate increased growth in the interior and exterior lighting space.”
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with more than C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries and now Financial Services, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial funding, Novacap has the resources and knowledge to build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.
About Globe Electric
Globe Electric is a North American leader and innovator in lighting solutions, electrical products, and smart home systems. Coined the Creative Energy Company, Globe Electric is committed to continuous R&D, delivering the best quality products, and leaving a positive impact on the lives of consumers. Each product is Made with Respect™; our commitment extends to every person involved in the making of our products, from design to production to delivery, and to our shared natural environment. Globe Electric products can be found at retailers across North America and online. Founded in 1932, Globe Electric is headquartered in Montreal, Quebec. For more information visit globe-electric.com or contact press@globe-electric.com
About Heath Zenith
HeathCo is the manufacturer and marketer of HeathZenith branded products. Through innovation we have compiled a large portfolio of patented technologies and products giving us the competitive edge as an industry leader in the intelligent lighting and door chime markets. The HeathZenith brand of products is sold in over 10,000 retail outlets worldwide including home centers, hardware stores, lighting showrooms, wholesale clubs and mass merchants. HeathCo’s drive to innovate, design and build quality products for our customers is the cornerstone to our success. For more information, please visit www.heath-zenith.com.
SOURCE Novacap Management Inc.
For further information: Press Contact: Novacap, Yasmine Sardouk, Phone: 450-651-5000, Email: ysardouk@novacap.ca