TSCP Sells Majority of Stake in Kele, Inc., Retains Minority Interest
St. Louis, December 9, 2007 – Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced the sale of Kele, Inc. (Kele), to Chicago-based Code Hennessy & Simmons LLC (CHS). TSCP will maintain a minority interest in the company. Kele is a leading supplier of commercial HVAC and building automation interface products. Terms of the deal were not disclosed.
The Memphis, Tennessee-based Kele provides peripheral control products and services to the building automation systems industry. Kele’s product offering includes more than 15,000 interface products including transmitters, sensors, switchers, gauges and relays from more than 200 manufacturers. The company’s products can be integrated in to pre-existing, new construction and retrofit systems.
Andy Kelly, CEO and President of Kele said, “The company has benefited tremendously by our relationship with Thompson Street. Their team’s expertise and encouragement helped us become a greater force in the marketplace. Now we look forward to taking the next step in our evolution with CHS. With the help and resources CHS can provide, we plan to reach new levels of growth. Kele is entering a new era that I am convinced will be exciting and rewarding for our key stakeholders, customers, associates, investors, suppliers and community.”