FOR IMMEDIATE RELEASE – Grakon, LLC, Acquires Hamsar Diversco Inc.
MAY 10, 2016, SEATTLE, WA: Grakon, LLC, a global leader in the design, development, and manufacturing of custom lighting, electronics and highly-styled engineered components for premier OEM vehicle manufacturers, today announced the strategic acquisition of the business and assets of Hamsar Diversco, Inc. Hamsar, based near Toronto, Canada, primarily develops and manufactures custom OEM lighting and electronics solutions for various vehicle and industrial end markets. Grakon, headquartered in Seattle, WA, was acquired by Industrial Growth Partners IV, L.P. in October 2014.
“With Hamsar and Grakon together, we will expand our product offering, manufacturing capabilities and the number of end markets we serve. Hamsar’s founder, Fred Kelly, has built an impressive organization and assembled a great team, and we are excited to welcome Hamsar into the Grakon family,” said Dave Paborsky, President & CEO of Grakon, LLC.
According to Fred Kelly, “the acquisition of Hamsar by Grakon is a great opportunity for Hamsar to increase its product offering and expand its position in its marketplace. The depth of manufacturing and product experience that Grakon brings to the table will be key to achieving these goals. It is very exciting to see Hamsar join the Grakon organization.”
“As part of this transaction, I am pleased to announce the appointment and promotion of Don Bartlett to Vice President & General Manager of Hamsar, effective immediately. Don brings over 28 years’ of experience in the industry, having spent the last 13 years at Grakon. He is ideally suited to lead and bring Hamsar and Grakon together,” Dave Paborsky added.
Acquisition Details – On May 10 2016, Grakon, LLC acquired the business and assets of Hamsar, supported with additional equity from Industrial Growth Partners IV, L.P., management and certain outside investors. IGP and Grakon continue to seek add-on acquisitions that can enhance Grakon’s position as a leading global designer and manufacturer of advanced lighting and electronics systems.
Headquartered in Seattle, Washington, Grakon was established in 1978 and is a global leader in the design and development of advanced LED lighting systems and engineered trim components for premier OEM vehicle manufacturers. Grakon’s expertise and innovative designs have led to a preferred supplier status among its OEM customers, and the company’s engineering expertise includes industrial, mechanical, electrical, and optical design. For more information please visit www.grakon.com.
Hamsar is a leader in designing and manufacturing custom lighting and electronics solutions for various vehicle and industrial end markets. Hamsar’s design and manufacturing capabilities including halogen, high intensity discharge and LED lighting products. Hamsar’s manufacturing and distribution facilities are located in Burlington, Ontario, Canada. For more information, please visit www.hamsar.com.
Contact Kevin Hare at (206)-824-6000 or email@example.com