WWE sold to New York-based private equity firm
Graycliff Partners LP today announced the sale of WorldWide Electric Corporation (WWE), the Rochester-based EASA member, manufacturer and importer of electric motors, motor controls, gear reducers, frequency converters, and generators, to AEA Investors, a New York-based private equity firm.
WorldWide had been with Graycliff for four years. Graycliff worked with the company to establish a management team, implement new systems, diversify its supply chain and execute operational improvements. It also presided over four new brand additions.
Brandon Martindale, a Partner at Graycliff, said, “We knew from the outset that WWE’s commitment to quality and best in class service set the company apart, and we have greatly enjoyed working with the team to build upon this foundation to grow the company both organically and through acquisition. The company is well positioned for continued success and we are confident AEA Investors is the ideal partner to take the company forward.”
“Graycliff has been an extraordinary partner,” said Jim Taylor, WWE CEO. “We could not have achieved such an ambitious level of growth without their support and strategic direction. We are looking forward to our next chapter of as part of the AEA portfolio.”
Lazard served as the exclusive financial advisor for Graycliff Partners and WWE.