N3 Capital Management, LLC ("N3"), a leading private investment firm, is pleased to announce its acquisition of Advance Switchboard Distribution, LLC ("ASD"). The acquisition will support ASD's continued growth in delivering both standard and custom American-made power distribution systems which serve a wide array of markets, including Solar/Renewable Energy, EV Charging, Healthcare, Education, Multi-Tenant & Mixed Use, and Distribution Warehousing.
CHICAGO, Oct. 7, 2024 /PRNewswire-PRWeb/ -- N3 Capital Management, LLC ("N3"), a leading private investment firm, is pleased to announce its acquisition of Advance Switchboard Distribution, LLC ("ASD"). The acquisition will support ASD's continued growth in delivering both standard and custom American-made power distribution systems which serve a wide array of markets, including Solar/Renewable Energy, EV Charging, Healthcare, Education, Multi-Tenant & Mixed Use, and Distribution Warehousing.
Founded over two decades ago by the Schneider family, ASD has demonstrated expertise in providing panelboard and switchboard designs up to 6,000 amps. The company has built a strong reputation based on its ability to respond to aggressive delivery requirements, while also consistently providing highly reliable solutions designed for ease of installation and maintenance. With N3's backing, ASD will enhance its manufacturing capabilities and expand its commercial presence to meet continued growth in the demand for mission-critical power distribution systems.
ASD will continue to be led by its President, Jeff Schneider, who will also join the company's board. In connection with the transaction, Dorian Alexandrescu, a long-time electrical industry veteran and private equity advisor, will join the board of ASD and become an Operating Partner of N3. N3 and ASD's board will guide the company's strategic plan, leveraging their deep expertise to explore new partnerships and complementary acquisition opportunities in adjacent markets to switchgear and switchboard manufacturing.
"We're excited to work alongside Jeff Schneider on ASD's next phase of growth and expand its reach in the power distribution equipment industry," said Neal Nath, Founder and Managing Partner of N3. "This investment exemplifies our strategy of identifying strong companies in which we can truly partner with senior management to help them realize their company's high growth potential in attractive end markets".
About N3 Capital Management
N3 Capital Management, based in Chicago, specializes in lower middle market private equity investments in US-based companies. N3 focuses on buyouts, recapitalizations, growth capital, structured/minority equity investments, and turnaround situations. N3 and its principals have over two decades of experience investing in, advising, and operating lower middle market industrial and consumer businesses.
About Advanced Switchboard Distribution
ASD is a UL-listed (UL-891, UL-67, UL-50) manufacturer of standard and custom power distribution systems based in Elk Grove Village, IL. ASD is known for its rapid turnaround times, innovative designs, and customer-centric approach to engineering and building the safest and most reliable power distribution systems in the Midwest.
For more information, visit ASD's website or send an email to [email protected].
Media Contact
Inquiries, N3 Capital Management, LLC, 1 312-612-9226, [email protected], https://www.n3cm.com/
SOURCE N3 Capital Management, LLC
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