MC Sign sold to Bahrain’s Arcapita
Mentor-based MC Sign Co. has changed PE owners again.
The company – which was first acquired by Sverica Capital Management in 2008 and then Caltius Capital Management in 2015 – hopes to continue growing market share under the controlling ownership of Bahrain-based Arcapita. The total transaction value is more than $100 million.
“Over 75 percent of MC Sign’s customers are blue-chip companies with national presence and, attesting to the company’s value proposition, MC Sign has averaged an industry-leading customer retention rate of 99 percent since 2012,” Arcapita CEO Atif A. Abdulmalik said in a statement.
There was no word if CEO Tim Eippert would remain with the company as he has through the previous acquisitions.
MC Sign’s 225 employees process more than 40,000 work orders per year through more than 5,000 field service partners. The company has steadily grown its lighting services business, which completes interior and exterior lighting installations. It is currently capitalizing on the high-growth LED retrofit/conversion market in the U.S.
Arcapita is a global investment firm with offices in Bahrain, Atlanta, London and Singapore.