Benford Capital Partners Acquires R.M. Young Company
Benford Capital Partners (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce its acquisition of R.M. Young Company, LLC (“R.M. Young” or the “Company”) in partnership with President Tom Young. R.M. Young is the 5th platform investment in Benford Capital Partners II, LP and represents BCP’s 18th industrial technology investment.
Founded in 1964 and located in Traverse City, MI, R.M. Young is a leading manufacturer of precision meteorological instrumentation offering a portfolio of products used to measure wind speed and direction, temperature, humidity, precipitation, pressure, visibility, and other critical environmental parameters. The Company sells its products to a diverse set of customers in the U.S. and internationally.
“BCP has a long track record of successfully building industrial technology companies and I’m confident they will be an excellent partner to R.M. Young in this next chapter,” commented President Tom Young. “We look forward to leveraging BCP’s investment experience in related industrial technology and family-owned businesses to continue growing the Company and better serving our loyal customers.”
BCP and R.M. Young plan to invest in sales and marketing resources and product portfolio expansion to drive organic growth. In addition, BCP will actively pursue add-on acquisitions of complementary industrial technology instrumentation and sensor companies.
Regarding the new investment, BCP Managing Director Ed Benford said, “Over the last 60 years, Tom and his team have built one of the global leaders in meteorological instrumentation. We look forward to maintaining the Company’s legacy while working in partnership with the management team to expand upon this successful foundation.”
BCP Vice President Cormac Kelly added, “We are excited to combine the experience of the BCP and R.M. Young teams and work together to drive continued product and customer growth in the coming years.”
ABOUT BENFORD CAPITAL PARTNERS
Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired more than 50 companies and currently owns 16 platform companies. BCP’s industry areas of focus include industrial technology, food and consumer products, agricultural products and services, and B2B e-commerce. For more information, please visit www.benfordcapital.com.
Please contact Ed Benford (ed@benfordcapital.com) or Cormac Kelly (cormac@benfordcapital.com) with any questions or add-on acquisition ideas related to R.M. Young (www.youngusa.com).