Snow Phipps Acquires Control Products Distributor, Kele
Kele supplies over 108,000 peripheral control products
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.
Douglas Cannaliato, senior managing director at Antares Capital, said, "We’re thrilled to be lead arranger of this financing for Snow Phipps, continuing our decade-long relationship with Kele. We have a lot of confidence in management and a history of successful partnering with Snow Phipps.” Ryan Brauns, managing director and head of sponsor finance at American Capital, said, “We are delighted to have closed our second transaction with Snow Phipps in the last 12 months and were glad to partner with Antares to provide a joint execution.”