A private equity firm has purchased controlling interest in Michigan City-based Dwyer Instruments.
Arcline Investment Management, a growth-oriented private equity firm with offices in San Francisco and New York, announced the purchase of a majority stake in the company from the Clark family and the firm’s management.
“From early in the process, it was clear that Arcline understood our business and would be a tremendous fit to carry on the Dwyer legacy,” said Steve Clark, chairman of Dwyer. “I could not be happier with the outcome and look forward to following the growth of the business in the future.”
Dwyer Instruments is a designer and manufacturer of sensor and instrumentation solutions for automation processes and HVAC systems used globally. Dwyer holds 93 active and pending patents and offers a broad suite of more than 40,000 configurable SKUs, enabling it to service nearly all customer-required applications.
Dwyer serves more than 20,000 active OEM, distribution and end-user customers through its offices in the U.S., U.K., Hong Kong, Australia and Singapore.
“The Clark family and the Dwyer team have built a strong brand with market-leading sensor and instrumentation solutions for process automation markets,” representatives for Arcline said. “We believe (Dwyer’s) differentiated products position it well to serve the growing trend toward greater process automation, connected devices and improved indoor air quality and energy efficiency.”
Dwyer Instruments was founded in 1931 and is headquartered in Michigan City and has additional offices in Asia, Europe, and Australia.
Arcline is a growth-oriented private equity firm that invests in thriving middle market businesses in high-value industries. The firm’s primary sectors of interest include defense, aerospace, critical infrastructure services, industrial & medical technology, life sciences and specialty materials.
Arcline currently has $4.3 billion in cumulative capital commitments.