The Stephens Group announced Tuesday (Feb. 25) that it finalized its acquisition of Kele, Inc. Terms of the transaction were not disclosed.
Based in Memphis, Tennessee and founded in 1983, Kele is the leading distributor of building automation peripherals and controls solutions.
Kele provides products from over 300 leading suppliers, including manufacturers of various sensors, flow meters, transmitters, switches, gauges, valves, actuators, relays, controllers, enclosures, tools, lighting, power supplies and numerous other products critical to the proper functioning of commercial building automation systems, such as HVAC and lighting.
“We are thrilled to add Kele to our family of companies,” said Clay Hunter, Managing Director at The Stephens Group. “We’ve been searching for the ideal platform to capitalize on long-term systemic trends toward automation in all areas. Kele is a well-recognized and critical supply partner to the fragmented building automation industry. We have tracked the business for over a decade and the opportunity arose to partner with this team as a result of this highly targeted approach.”
“We are very excited to partner with The Stephens Group,” said Kele CEO Richard Campbell. “Their unique combination of high caliber private equity capabilities paired with a flexible, permanent capital source make them the right partner for our team as we look to continue executing on our strategy. Their team knows our industry and business model well and we look forward to tapping into their resources to help accelerate our growth both organically and via acquisitions. On a personal level, having grown up in Arkansas, I’ve known of and have a particular fondness for the Stephens’ long history of successful partnerships. I am especially pleased to be a part of the Stephens family.”
The Stephens Group is a private investment firm based in Little Rock.