CI Capital Partners forms partnership with McLendon
CI Capital Partners, a New York-based private equity firm, has formed a partnership with Scott McLendon, the former chief executive officer of Rexel USA East, to pursue a platform company investment in the industrial automation distribution sector.
McLendon has more than 30 years of experience in the automation and control, electronics, and electrical markets, including senior leadership on both the manufacturing and distribution sides of the sector. As CEO of Rexel USA East, a $2 billion division of Rexel, a $15 billion global leader in the distribution of electrical supplies and services,
CI Capital and McLendon will pursue investment opportunities in the fragmented industrial automation distribution channel, which services a large and diverse customer base of North American manufacturers and industrial companies. Target companies will have demonstrated B2B distribution success, consultative automation & control and electronics service expertise, and industry-leading technical, sales, and management teams. CI Capital has previously invested in industrial and technical distribution companies, such as Maroon Group, a distributor of specialty chemicals and ingredients, and Tech Air, a distributor of industrial, medical, and specialty gases, welding equipment, and supplies.
"This is an exciting time for industrial automation, and I am pleased to announce this new partnership with CI Capital to pursue a platform company investment in the sector," said McLendon. "The market is in a phase of strong secular organic growth as North American manufacturers in all markets seek to take advantage of rapid technological advances to improve quality and reduce costs through industrial automation equipment, services, and technology. The vast landscape of distribution players is well-positioned to continue organic expansion and poised for consolidation. Smaller players can join forces to leverage their combined scale, breadth of products, geographic footprint, and strategic supplier relationships."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
