PITTSBURGH, May 2, 2024
/PRNewswire/ -- GrayMatter, a top Industrial Intelligence
technology solution provider, is accelerating its expansion with a
significant investment from Tailwind Capital, a private equity firm
focused on investments in growth-oriented, middle-market services
companies.
This partnership comes at a pivotal time for GrayMatter. The
company recently celebrated another year in which it met its
organic growth objectives and completed two successful
acquisitions. Over the past seven years, GrayMatter has
successfully completed five strategic acquisitions, invested in a
new operations team in India and
assembled a respected team of technical engineers.
"Our industry is at an inflection point, and with Tailwind's
investment, we have the opportunity to create a new brand of
Industrial Intelligence. Our industrial automation, MES, analytics
and cyber for OT offerings are in high demand. This investment will
allow us to invest deeper in our platform and people to ensure we
have the full suite of solutions and offerings for our
long-standing and loyal customers," said James Gillespie, CEO and co-founder of
GrayMatter. "We look forward to further empowering operators by
providing them with leading automation and Industrial Intelligence
solutions."
Tailwind Capital has a long history of partnering with
management teams to drive transformative growth by utilizing its
Accelerate Change playbook, which is predicated on investments in
talent, technology and transformative M&A. The firm has
proven expertise investing in highly technical engineering services
businesses and has worked closely with Paul
Galeski to develop a thesis in the industrial automation and
intelligence market. Galeski founded MAVERICK Technologies, which
he successfully sold to Rockwell Automation before becoming the
Vice President & GM, Global Solutions and Services. He will
serve as the Executive Chairman of GrayMatter.
"We are thrilled to partner with Jim, Paul and the entire
extended GrayMatter team. The company has a well-earned reputation
as a leading provider of automation and Industrial Intelligence
services. We look forward to further supporting their strategic
objectives and helping them accelerate their growth, both
organically and via acquisitions," said Andrew Mayer, a Partner at Tailwind Capital.
"We are excited to have Tailwind join us as we push the
boundaries of what's possible in Industrial Intelligence,"
Gillespie said. "The firm has a long track record of working
closely with services businesses to accelerate growth.
Additionally, Paul brings a wealth of experience in industrial
automation, and we look forward to partnering on strategic
initiatives that will allow us to better serve our customers and
drive value for all stakeholders."
"Jim and the GrayMatter team have built a wonderful business,"
said Galeski. "They solve complex problems and deliver high-ROI
solutions for their customers. I am thrilled to have the
opportunity to work with Jim and Tailwind to further scale
GrayMatter into the market-leading provider of industrial
automation and intelligence solutions."
About GrayMatter
GrayMatter is a leading industrial technology company dedicated
to transforming operations and empowering people. We help your
people and your industrial assets become smarter and more
visible.
Some of the largest industrial companies in the world lean on us
to protect and connect their critical assets to their teams so that
every operator is empowered to be the best operator.
GrayMatter has been named to the Inc. 5000 fastest-growing
companies list for six consecutive years and was named Pittsburgh's Tech50 Innovative Solution
Provider of the Year for 2018, 2019 and Tech50 Cybersecurity winner
in 2023.
About Tailwind Capital
Tailwind Capital is a private equity firm with a sector-focused
approach to investing in U.S. lower middle market services
companies within Infrastructure Services, Supply Chain and IT
Services. Tailwind's value creation model is centered on its Buy
and Build investment strategy, which seeks to scale lower middle
market businesses through accretive acquisitions and operational
investments, including foundational resourcing, professionalizing
operations, implementing technology capabilities and investing
in talent. Since its inception, Tailwind has invested $4 billion in over 280 acquisitions, including 52
platform companies and over 230 add-on acquisitions.
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SOURCE GrayMatter