Snow Phipps acquires building-controls distributor Kele with $170M financing

PE firm Snow Phipps Group acquired Kele Inc., a distributor of peripheral control products for building automation systems, with Antares Capital and American Capital arranging $170 million in financing to support the buyout.

“CHICAGO and BETHESDA, Md. — Antares Capital and American Capital arranged for $170 million in financing to support the acquisition of Kele Inc. by Snow Phipps Group LLC. Kele is a distributor of peripheral control products used in building automation systems. Snow Phipps is a private equity firm focused on middle-market control investments.”

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