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Morgenthaler exits Avtron Loadbank through sale to Emerson

16 Mar 2012

US lower mid-market firm Morgenthaler Private Equity has sold power integrity tester manufacturer Avtron Loadbank to Emerson Electric.

The company’s products test the integrity of power supplies for critical applications in institutions such as hospitals, airports and data centres.

Avtron CEO and president Jeff Gwinnell said, “The combination of Avtron Loadbank with Emerson represents an exciting opportunity for growth.

“With the acquisition of Froment in 2010, Avtron Loadbank solidified its position as the clear global leader in load banks, and as part of Emerson we see terrific potential to further broaden our customer base and geographic reach.”

Morgenthaler has about $3bn under management and has made investments in more than 300 companies over its 44-year history.

It focuses on lower mid-market transactions between $25m to $150m with net profits in excess of about $5m.

Last month the firm led a $14m financing round in workplace talent management solution provider PeopleMatter.

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