Graycliff Partners, New York, N.Y., private equity firm, has acquired Republic Electric Company.
Republic, headquartered in Davenport, Iowa, distributes HVAC and electrical equipment and related components for residential, commercial and industrial use. Founded in 1916, Republic has over 40,000 products and five locations across Iowa and Illinois.
“As a third-generation family-owned company, it was of utmost importance to find a financial partner that understood our vision and valued our legacy,” said Mark Kilmer, CEO of Republic.
“Graycliff’s approach of providing strategic support and guidance while still maintaining Republic’s culture made them the right fit for us. They have deep experience in working with and growing companies like ours, and we couldn’t be more excited about our partnership.”