Ameritherm Announces New Investors
Graycliff Partners, an independent investment firm, closed on its investment in a majority stake in Ameritherm (known as Ambrell), a designer and manufacturer of induction heating products and systems. Graycliff was joined in its investment by Exium Partners, an operationally focused investment group based in Rochester, N.Y. The Ambrell management team retained a significant amount of equity as part of the transaction. Scottsville, N.Y.-based Ambrell has sold more than 10,000 systems into over 50 countries, serving customers in industries including energy, electronics and medical, in addition to general industrial manufacturers.