Schumacher Electric
Management officials with Schumacher Electric Corporation on Wednesday announced that the Fort Worth-based company had been sold to Ripple Industries LLC, a private investment firm.
Terms of the deal were not disclosed.
Founded in 1947, Schumacher Electric has evolved into a leader in the design, manufacture, and distribution of power conversion products. Schumacher had been under the control of Lincolnshire Management Inc., a private equity firm focused on investing in and acquiring growing middle market companies.
“Schumacher Electric is celebrating 75 years of power innovation. Major milestones provide us with the opportunity to pause, reflect and appreciate our past,” says Schumacher CEO Mickey Leech, who announced the sale to employees by live stream, according to a news release. “Much has changed since 1947, from our products and technologies to our people and processes.
“Schumacher was born out of a family legacy focused on power, performance, and innovation. The last few years have been marked by unprecedented challenges that have impacted everyone — from the professional to personal — on many levels. And yet, despite these challenges, the Schumacher team has continually risen to the occasion.”
Leech noted some of Schumacher’s most recent accomplishments:
- The global launch of a new line of Rugged™ Lithium Jump Starters
- The launch of the new Ultracap Battery Charger and Engine Starter
- The addition of Level 2 EV Wall Chargers to the global Schumacher EV Series™ debuting in June
- Meaningful growth in the e-commerce space across a range of marketplace and retail platforms
- The availability of Schumacher products across a wide breadth of channels that represent more than 60,000 brick-and-mortar distribution points from the leading big box to home improvement, specialty and hardware locations
“Even with these amazing accomplishments, we want to take this time to continue to re-imagine our future and what we want Schumacher Electric to look like in the next five, 10, 25 years and beyond,” says Leech. “Lincolnshire was instrumental in helping formulate the strategies that drove our successful high growth initiatives, including our EV Series™ and e-commerce. Now our leadership team is ready to lean in with Ripple Industries and continue that trajectory.”
Says William Bishop of Ripple Industries: “The Schumacher brand is synonymous with innovation and enhancing battery life. We share management’s vision of the big opportunities ahead as global transportation needs evolve and put greater demands on holistic power conversion solutions including battery maintenance and charging. We will move aggressively with Mickey and the entire Schumacher team to capitalize on these exciting growth opportunities.”