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San Mateo, CA, January 2, 2018 – Bertram Capital (“Bertram”) today announced its investment in Mardix (Holdings) Limited (“Mardix” or the “Company”), an innovator and leading provider of switchgear and critical power equipment and services. Mardix will join Bertram’s existing portfolio company Anord Control Systems Limited (“Anord”) to form the Anord-Mardix Group, a global provider of critical power solutions for an array of markets spanning data centers, renewable energy, building services, infrastructure and industrial applications.
“Bringing together Anord and Mardix is a perfect example of Bertram’s approach to investing and the relationships we build with both our management teams and the surrounding ecosystem,” said Jeff Drazan, Managing Partner at Bertram. “By building strong ties to the founders of Mardix over the past six years and a ten year relationship with several key, senior executives at Anord who ran a prior Bertram investment, we were able to effect the merger of these two highly complementary businesses. We believe there is further opportunity to consolidate best-of-breed companies in this sector.”
Founded in 1966 and headquartered in Kendal, England, Mardix is the largest UK-based manufacturer of critical power equipment including switchgear, power distribution units, package substations, busbar transmission and distribution systems and modular datahall busway systems. With a global salesforce, worldclass manufacturing capabilities across three facilities in the UK, and a dedicated service division, Mardix is the trusted supplier for a diverse set of customers across commercial and industrial buildings, energy, rail and cloud, colocation and enterprise data centers.
“We are incredibly excited about the formation of the Anord-Mardix Group in partnership with the management team and shareholders at Mardix. The combination of Anord and Mardix unifies two of the best brands in the industry, whom have a collective pedigree of 100 years in the critical power equipment industry. We are very confident that the combined Anord-Mardix management team’s deep industry knowledge, broader product suite and wider geographic reach will allow the group to be even more aligned to drive significant value creation for their customers,” said Kevin Yamashita, Partner at Bertram.
Bertram’s investment in Mardix highlights its approach of investing alongside founders and business owners, similar to its May 2017 investment in Anord. The Mardix shareholders and senior leadership team identified Bertram and Anord as ideal partners to propel the business forward on its already strong growth path and will retain a significant ownership stake in the combined company.
“As we continue to power clients across the global cloud computing industry, we at Mardix are very enthusiastic about joining forces with Anord to create the Anord-Mardix Group. The businesses are highly complementary with an unrivalled product portfolio that we believe is second to none in quality terms. Additionally, with over 400,000 ft2 of manufacturing capacity across North America, the UK and Europe, we will be better positioned to provide customers with a full suite of solutions on a global basis,” said James Peacock, Managing Director at Mardix.
“The similarities between Anord and Mardix are striking, from their respective foundations to their globally respected brand names, both of which have been built over decades. Both companies have a shared culture centered on quality, customer service and innovation,” said Kevin Finegan, Managing Director at Anord and Group CEO. “With an excellent reputation and track record in the critical power equipment market since the industry’s inception, Mardix is one of the most innovative providers in the marketplace. Mardix’s customer-focused ethos and continued commitment to industry-disrupting technical solutions have provided it with a strong market position and attractive growth profile.”
Mardix is a leading global provider of specialist switchgear, busway, power management and critical power service solutions which serve a diverse range of customers. The Mardix business model integrates all of the aforementioned products and services as a custom-engineered package to the specific requirements of their customer base, many of whom are globally-recognized datacloud, financial services and industrial brands. With 50 years of industry expertise, the Mardix brand is synonymous with quality, reliability and innovation – providing value-added functionality to end users both large and small. Visit www.mardix.com for more information.
Anord is a leading global provider of critical electrical power distribution and protection equipment for data centers, energy and industrial applications. They are a preferred supplier of low voltage switchgear, power distribution units, remote power panels, busduct and full modular plantroom and substation solutions to marquee cloud and colocation data center operators. Visit www.anord.com and www.anordcpi.com for more information.
About Bertram Capital
With over $1.3 billion in committed capital, Bertram Capital is a private equity firm targeting investments in lower middle market companies. By supplying flexible investment capital and committing a wealth of operational and strategic resources to each investment, we make it our core objective to move companies, management teams and employees toward unlocking their full potential. Visit www.bertramcapital.com for more information.
David Hellier: Bertram Capital