Daily News: February 25, 2015

High Road Marks Fourth Fund Exit

High Road Capital Partners sold portfolio company All Current Electrical Sales, marking the fourth exit for the firm’s debut fund, High Road Capital Partners Fund I. All Current is a leading specialty reseller of electrical components utilized across a broad range of commercial and industrial end markets. The sale closed on February 17, 2015. Transaction terms were not disclosed.

All Current was acquired by EBSCO Industries, through its new platform investment division, EBSCO Capital and management. EBSCO is a privately owned, family business headquartered in Birmingham, AL, that seeks to acquire quality middle-market companies and grow their profitability over the long term.

“During High’s Road ownership, All Current’s revenue grew by 58 percent and the company established a significant national presence,” said Bob Fitzsimmons, High Road’s managing partner. “All Current exemplifies our strategy of buying niche leaders and working with management to build bigger, more efficient, and qualitatively better businesses. In partnership with All Current, we executed our value creation strategy by completing three add-on acquisitions, implementing IT systems upgrades, and enhancing sales and marketing capabilities.”

Robert Nabrzeski, CEO and a co-founder of All Current, said, “With High Road’s support, we achieved significant growth in our core business serving the ‘need-it-now’ market for industrial electrical components, and deepened our private-label offerings and custom controls solutions, while building out our management team to support further growth. These investments solidify All Current’s position as a trusted partner to its customers.”

Partners Jeff Goodrich, Bill Hobbs and Ben Schnakenberg led the High Road investment team. Piper Jaffray advised All Current in the transaction. Jones Day provided legal counsel to the company. High Road Capital Partners has completed 34 transactions — 12 platform investments, 18 add-on acquisitions and four exits — since its founding in 2007. The firm most recently exited Handi Quilter in December 2014.