Saothair Completes Acquisition of GatesAir
Saothair Capital Partners, LLC ("Saothair"), a private equity firm focused exclusively on investing in middle-market manufacturing and industrial companies, announced it has completed the acquisition of the business and assets of GatesAir, Inc. (“GatesAir”) through a newly-formed affiliate.
Founded in 1922, GatesAir (www.gatesair.com) is a leading global designer, manufacturer, and installer of wireless, over-the-air content delivery and public safety communications equipment. GatesAir’s solutions are mission-critical, enabling broadcasters to create, transport, and transmit radio and TV content. The company is headquartered in Mason, Ohio, with manufacturing facilities in Quincy, Illinois, and Brescia, Italy. Barbara Spicek will continue to serve as President and Chief Executive Officer.
Kevin Madden, Co-founder and Managing Partner of Saothair, said, “GatesAir holds a strong and enduring position in the global broadcast industry, built on a century of innovation and reliability. We are excited to partner with Barbara and her talented team to further scale the business, broaden its geographic presence, and expand its portfolio of turnkey broadcast and communications solutions.”
Richard Lozyniak, Co-founder and Operating Partner of Saothair, added, “GatesAir has earned the trust of broadcasters worldwide through its customer-first culture and dependable solutions. We look forward to building on that foundation of trust while investing in the next phase of growth.”
“GatesAir's 100-plus-year heritage represents more than longevity; it reflects an unwavering reliability that broadcasters depend on worldwide,” said Ms. Spicek. “Saothair's partnership empowers us to accelerate innovation, bolster customer support, expand our market leadership, and deliver the breakthrough technologies that will define the future of over-the-air content delivery.”
McGuireWoods LLP provided legal counsel to Saothair on the transaction. GatesAir was represented by Akin Gump Strauss Hauer & Feld LLP for legal counsel and GLC Advisors & Co., LLC as financial advisor.