Heritage Capital Group (“Heritage”) is pleased to announce the successful acquisition of Surge Suppression Incorporated (“SSI”) by ILSCO. The Heritage team of K.C. Caldabaugh and Doug Kravet initiated the transaction and led the negotiations on behalf of ILSCO.SSI is a leading manufacturer, distributor, and services provider of Surge Protection Devices (SPDs) that operates from offices in Brooksville and Destin, Florida. The senior management team of SSI were early entrants in the SPD market and SSI has roots in the industry dating back to the early 1980s. SSI manufactures multiple lines of SPDs for both AC and DC power systems, as well as data and telecommunication systems, from 5 to 7200 volts. SSI has served more than 200,000 customers in both U.S. and international markets. Rich Hotchkiss, President of SSI stated “We are excited to join a firm with the tradition and market presence of ILSCO, which is one of the best known brands in the electrical industry.”
ILSCO is a leading manufacturer of electrical connectors and grounding products that serves both original equipment manufacturers (OEMs) and maintenance repair and operations firms (MROs). Founded in 1894, ILSCO has expanded, diversified, and innovated to meet the needs of firms in the electrical connector and manufacturing industries. Their products are used in a wide range of industries including construction and industrial, residential, telecommunications, and renewable energy markets. ILSCO has operations throughout the U.S. and in Canada and Mexico. The company is headquartered in Cincinnati, Ohio. The acquisition of SSI marks an important milestone in achieving ILSCO’s ongoing expansion strategies.
K.C. Caldabaugh, who led the acquisition efforts commented, “ILSCO has a well-defined acquisition strategy, and we were pleased to have the opportunity to work with their team to add SSI and its product line to the ILSCO portfolio.”Andrew Quinn, ILSCO’s president said, “Over-voltage protection is a logical next step in our company’s strategy to broaden our electrical solution offering to the marketplace. SSI brings a strong history of innovation and safety along with the broadest range of SPD solutions in the market today. SSI’s products represent a perfect complement to ILSCO’s ever-expanding line of grounding and bonding connectors.” Quinn went on to state “Heritage played a critical role in negotiating the transaction and managing the process. We are very pleased with the outcome of the transaction, and we appreciate K.C. and Doug’s assistance throughout the process
Heritage Capital Group provides a range of investment banking services, including buy-side and sell-side M&A advisory work, business valuations, litigation support, exit planning, value enhancement and strategic advisory services, including restructuring and reorganization consulting. Heritage Capital Group is a FINRA regulated broker-dealer and the Florida headquarters of M&A International Inc., which extends their capabilities on a global scale.
