Chicago Switchboard Acquires IER Electrical Equipment and Controls
January 18, 2023
Chicago Switchboard, a portfolio company of Promise Holdings, acquired IER Electrical Equipment and Controls, a Houston-based manufacturer of custom electrical distribution and motor control solutions. Gemspring Capital (via its GGS I vehicle) made a strategic minority investment in Chicago Switchboard to support the add-on acquisition, which provides Chicago Switchboard a foothold in the Texas market; founder Mike Wolf sold the business.
- Buyers
- Chicago Switchboard, Inc., Promise Holdings, Gemspring Growth Solutions I (Gemspring Capital)
- Targets
- IER Electrical Equipment and Controls
- Sellers
- Mike Wolf
- Platforms
- Chicago Switchboard, Inc.
- Industry
- Manufacturing
- Location
- Texas, United States
- Transaction Type
- Addon
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