Schumacher Electric Corporation, a global pioneer in the design, manufacture, and distribution of power conversion products announced Lincolnshire Management, Inc., a private equity firm focused on investing in and acquiring growing middle market companies, has completed the sale of Schumacher Electric to private investment firm Ripple Industries LLC.
The financial terms of the transaction were not disclosed. The announcement was made via a live stream all-employee meeting where Mickey Leech, CEO of Schumacher Electric, also, reflected on major company milestones.
power, performance, and innovation
Much has changed since 1947, from our products and technologies to our people and processes"
“Schumacher Electric is celebrating 75 years of power innovation. Major milestones provide us with the opportunity to pause, reflect and appreciate our past,” said Mickey Leech, adding “Much has changed since 1947, from our products and technologies to our people and processes."
He continues, "Schumacher was born out of a family legacy focused on power, performance, and innovation. The last few years have been marked by unprecedented challenges that have impacted everyone from the professional to the person on many levels. And yet, despite these challenges, the Schumacher team has continually risen to the occasion.”
Accomplishments
Leech went on to review some of Schumacher’s most recent accomplishments:
- The global launch of a new line of Rugged™ Lithium Jump Starters.
- The launch of the new Ultracap Battery Charger and Engine Starter.
- The addition of Level 2 EV Wall Chargers to the global Schumacher EV Series™ debuting in June.
- Meaningful growth in the e-commerce space across a range of marketplace and retail platforms.
- The availability of Schumacher products across a wide breadth of channels that represent more than 60,000 brick-and-mortar distribution points from the leading big box to home improvement, specialty, and hardware locations.
Strategies and initiatives
“Even with these amazing accomplishments, we want to take this time to continue to re-imagine our future and what we want Schumacher Electric to look like in the next five, ten, 25 years and beyond,” said Leech.
“Lincolnshire was instrumental in helping formulate the strategies that drove our successful high growth initiatives including our EV Series™ and e-commerce; now our leadership team is ready to lean in with Ripple Industries and continue that trajectory.”
Enhancing battery life
William Bishop of Ripple Industries noted, “The Schumacher brand is synonymous with innovation and enhancing battery life; we share management’s vision of the big opportunities ahead as global transportation needs evolve and put greater demands on holistic power conversion solutions including battery maintenance and charging.”
“We will move aggressively with Mickey and the entire Schumacher team to capitalize on these exciting growth opportunities.”
