Press Release
Gridiron Capital Receives Carolinas’ Private Equity Deal of the Year Award
New Canaan CT, April, 2009 — Gridiron Capital, LLC was awarded the 2008 Private Equity Deal of the Year for the Carolinas on April 15, 2009. The award was presented to Gridiron at the 2009 Capital Conference by the Raleigh Durham chapter of the Association for Corporate Growth. Gridiron received the award for completing two related deals during 2008. At the conference Tom Burger, Managing Partner of Gridiron, stated that “Gridiron was able to complete these investments during markedly different economic climates because of our commitment to a clear long term investment strategy to build value in our portfolio companies. We’ve been successful even in this difficult business environment by continuing our resolve to execute our strategy in partnership with management.”
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In January 2008, Gridiron funds acquired Electronic Systems Protection, Inc. based in Zebulon, North Carolina. ESP is a leading manufacturer of industrial power protection products in its selected industries. For over 20 years, ESP products have provided patented power filtration and surge protection technology to protect digital equipment from surges, ground noise, dirty power disruptions, lightning and other harmful voltage transients. ESP’s products are manufactured in Zebulon, NC and are endorsed by leading equipment manufacturers in the office automation industry. Additional information is available at www.realpowerprotection.com. In December 2008, Gridiron supported ESP’s acquisition of SurgeX and its related intellectual property. SurgeX is a leading designer, manufacturer and marketer of AC power conditioning and surge elimination products for the Audio Visual, Broadcast and Security industries and has developed key dealer and distributor relationships throughout the United States and Canada for over thirteen years. Upon closure of the acquisition, SurgeX operations were relocated to ESP’s facility in North Carolina. Additional information about SurgeX is available at www.surgex.com.
“ESP is the type of business that fits squarely into Gridiron’s investment strategy, and the acquisition of SurgeX, a leader in its own vertical market segment, was central to our strategic commitment to grow ESP,” mentioned Joe Saldutti, Managing Director at Gridiron. “The deterioration of the economic and lending environment for middle market companies hasn’t affected our resolve to grow companies. In fact, this should be a perfect time for strong, differentiated companies to build market share and smartly deploy capital and human resources to grow. We’re very actively looking to invest, in and partner with, strong platform companies and their managements to build leading companies.”
About Gridiron Capital:
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. The firm’s principals have historically achieved superior investment returns by employing a combination of strategic, operating and financial experience to provide portfolio companies with competitive advantages. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information about Gridiron is available on the firm’s website at www.gridironcapital.com.