PNC Riverarch Capital announced the acquisition of a controlling interest in North American Breaker Co., LLC (NABCO), a leading specialty reseller of circuit breakers and related electrical components dedicated to “need-it-now” product solutions for wholesale electrical distributors. NXT Capital and NABCO management have co-invested alongside PNC Riverarch Capital. enior financing for the transaction was provided by NXT Capital. FocalPoint Securities and Sagent Advisors acted as financial advisors to NABCO.
Founded in 1996, NABCO serves more than 3,000 wholesale distributors, enabling them to offer end customers a comprehensive line of circuit breakers and related products. The company carries more than 10,000 distinct product offerings and emphasizes difficult-to-source products not regularly stocked by traditional distributors. NABCO is headquartered in Burbank, California, and services customers out of nine inventory-equipped warehouse locations, enabling next-day delivery throughout the U.S. and Canada.
“Through a solutions-oriented approach that emphasizes product availability, rapid response time and outstanding customer service, NABCO has built a strong reputation and is well-positioned for continued growth,” said Michael Rost, managing director of PNC Riverarch Capital. “We were particularly attracted to NABCO’s strong leadership team, unique value proposition and demonstrated ability to serve the branch networks of leading wholesale distributors throughout North America.”
The transaction for PNC Riverarch Capital was led by Rost; Andrew Wiechkoske, director; Andrew Barza, senior associate; and Patrick Sturm, associate. PNC Riverarch Capital will be represented on the Board of Directors by Rost, Wiechkoske and Barza.
PNC Riverarch Capital is a middle-market private equity firm that invests in privately held companies headquartered in North America. The firm seeks well-positioned companies where it can invest $10 million to $50 million of capital in support of leveraged and management buyouts, recapitalizations, corporate divestitures and growth financings. PNC Riverarch Capital invests across a variety of industry sectors, including outsourced services, specialized manufacturing, and value-added distribution.
PNC Riverarch Capital is a division of PNC Capital Finance LLC, a wholly owned indirect subsidiary of The PNC Financial Services Group, Inc. Since 1982, PNC has invested more than $1.0 billion of equity capital in more than 100 companies.