About Ready Engineering
Ready Engineering is an engineering industry leader providing controls and electrical engineering expertise to heavy industrial facilities in North America and around the world.On January 12th, 2021, Ready Engineering was acquired by Shermco Industries. The terms of the transaction were not disclosed.
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Latest Ready Engineering News
Jun 8, 2021
Gryphon’s Shermco Continues Northwest Expansion June 8, 2021 Shermco Industries, a portfolio company of Gryphon Investors, has acquired Sigma Six Solutions and Innovative Electric, both are providers of specialty electrical services. Washington-based Sigma Six provides commercial and industrial electrical testing, repair and maintenance services; and Innovative Electric , also based in Washington, is a provider of commercial and industrial design and build electrical contracting services. Sigma Six, led by General Manager Chris Morgan, was acquired from Penn Power Group; and Innovative Electric was acquired from Gunnar Petzold who founded the company in 1994. Innovative’s and Sigma Six’s management and technical experts will remain with their companies post-closing. “We were very selective in our choice of partner given our proud history of safety, value-add services, and customer-focused solutions,” said Mr. Petzold. “We feel Shermco is aligned with Innovative’s values and integrity and are excited to offer new services for our loyal customers and career opportunities for our staff.” Shermco provides testing, maintenance, repair, commissioning, and repair services for electrical infrastructure including substations, switchgear, transformers, motors, and generators. Shermco services the entire electrical line – from high-voltage substations down to the distribution equipment within facilities. Irving, Texas-headquartered Shermco is led by CEO Tom Batolomei and has 36 facilities across the US and Canada. Prior to acquiring Sigma Six and Innovative Electric, Shermco closed the January 2021 buy of Ready Engineering, a Washington and Canada-based provider of electrical, controls, and industrial information systems. “The combination of Shermco, Innovative, and Sigma Six is part of our strategic plan to build on our recent acquisition of specialty engineering business Ready Engineering,” said Mr. Batolomei. “We have completed a puzzle, immediately offering our customers a sole source market-leading provider while simultaneously establishing Shermco as a dominant presence in the Pacific Northwest. This is an exciting chapter in the history of Shermco and proves we will continue to strategically invest in areas that ensure our customers can access one specialty electrical services provider for all their power system needs, no matter where in North America they operate.” San Francisco-based Gryphon makes leveraged acquisitions and growth investments in middle-market companies. The firm invests from $50 million to $300 million of capital in companies with enterprise values ranging from $100 million to $600 million. Sectors of interest include business services, consumer products and services, healthcare, industrial growth, and software. In July 2019, the firm held a final closing of Gryphon Partners V LP at its hard cap of $2.1 billion. The new fund was oversubscribed and exceeded its original target of $1.5 billion. © 2021 Private Equity Professional | June 8, 2021 Gryphon’s Shermco Continues Northwest Expansion added by John McNulty on June 8, 2021
Ready Engineering Frequently Asked Questions (FAQ)
When was Ready Engineering founded?
Ready Engineering was founded in 1996.
Where is Ready Engineering's headquarters?
Ready Engineering's headquarters is located at 215 McLeod Avenue, Spruce Grove.
What is Ready Engineering's latest funding round?
Ready Engineering's latest funding round is Acquired.
Who are the investors of Ready Engineering?
Investors of Ready Engineering include Shermco Industries.
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