Summit Park has sold Tennessee Industrial Electronics to Diploma PLC
Tennessee Industrial Electronics
Tennessee Industrial Electronics (TIE) is a leading provider of aftermarket parts and repair services for automated systems. With operations in La Vergne, Tennessee, and Almont and Clinton Township, Michigan, TIE has taken its core model of deep industry expertise, outstanding customer service and unmatched response time to serve multiple parts of the industrial automation aftermarket including CNC, robotics and process automation. For more information, please visit www.tieindustrial.com.
Lincoln International leveraged its industry expertise and buyer relationships to conduct a targeted, streamlined process to generate multiple options for the shareholders and management while optimizing speed and process efficiency. This drove a competitive process for TIE and an attractive outcome for the company and Summit Park.
Adam Hunia, Managing Director in Lincoln’s Industrials Group, commented, “TIE is a differentiated asset in the CNC and robotics aftermarket space that has undergone significant transformation under Summit Park’s stewardship. The company’s expanded capabilities, outstanding customer service, unmatched response times and alternative solutions make it uniquely positioned to continue being a market leader in the industry. It was a pleasure to work with the Summit Park and TIE teams to deliver an outcome beneficial for all stakeholders, and we look forward to seeing TIE’s continued evolution and growth as part of the Diploma PLC platform.”
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including services, consumer and industrial growth. The firm has made more than 40 investments in the lower middle market totaling more than $2 billion in total enterprise value. The firm’s capital can be used to facilitate a change in ownership, support expansion and growth, provide partial liquidity to existing owners, or support an industry consolidation plan. For more information, please visit www.summitparkllc.com.
Diploma is a dynamic group of value-add distribution businesses that focuses on brilliant service, technical expertise and delivering value to its customers. Its businesses supply key industries, including infrastructure, energy and life sciences, and operate across the United States as well as in Canada, continental Europe, the UK and Australia.
It was a pleasure to work with Lincoln as they thoughtfully approached our business with deep industry perspective and process acumen. The Lincoln team’s insights, leadership and execution quality helped generate heightened interest and achieve a truly successful outcome.
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