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Summary
CVC Fund VIII is acquiring an interest in the Company from founder & CEO Brian Radwell and Greenbriar Equity Group, L.P. (Greenbriar), both of whom will remain significant shareholders going forward. Founded in 1979, Radwell is a leading specialty distribution and light manufacturing business that provides new and refurbished industrial automation components for the repair and maintenance of production and processing equipment on plant floors. The investment from CVC Fund VIII will support Brian Radwell and the management team in executing against their multi-year expansion program focused on domestic and international growth as well as selective M&A opportunities across the businesss geographies and product sets. We are also very excited to bring on CVC as a new partner, whose global resources and experience building businesses will enable us to pursue new avenues of growth in the U.S. and worldwide. Funds managed or advised by CVC are invested in over 100 companies worldwide, which have combined annual sales of approximately US$120 billion and employ more than 500,000 people.