JMC Capital Partners has purchased a majority stake in Phoenix, a leading supplier of LED light fixtures for crane and other port applications.
George Wordingham, President and fourth generation owner of Phoenix, has announced his retirement and confirmed the sale of his majority share of the company to JMC Capital Partners of Boston, Massachusetts.
“I’m happy to be putting Phoenix in a position for long-term growth while also preserving the importance of its history in the industries we’ve served for decades. The trust our customers have in us is something money can’t buy, so it’s important to everyone to keep this story going,” Wordingham said.
Phoenix is well known for its rugged light fixtures for tough environments like ports and mining machinery, and in recent years has successfully made the transition to LED technology. “JMC will be investing in various growth opportunities for Phoenix and looking to grow its presence in the lighting industry,” Phoenix stated.
“We are pleased and excited to add Phoenix to the JMC portfolio as a new platform for rugged LED Lighting,” said David Logan, Operating Partner at JMC. “Phoenix’s management team has done an excellent job at growing their business, and we look forward to continued success.”
Scott Fredrick, CEO of Phoenix, welcomed JMC onboard. “JMC presents great opportunities for our future in this industry,” he said. “As a 126-year-old manufacturer, we know the value of adaptability and perseverance. JMC’s strategy is a perfect fit for Phoenix and its plan for long-term growth.” Phoenix will continue to operate out of Milwaukee, Wisconsin, and retain all employees.