Shermco Industries Partners with Gryphon Investors

IRVING, Texas - June 6, 2018 - PRLog -- Shermco Industries announced today that Gryphon Investors, a San Francisco based private equity firm, has acquired a majority ownership position in the company from GFI Energy, an affiliate of Oaktree Capital Management. CEO Ron Widup and other members of Shermco's management team have retained a significant ownership position in the Company and will continue to lead Shermco's business activities in the USA and Canada.  Former Entergy senior executive and Gryphon advisor Bill Mohl will become Chairman of Shermco.

Founded in 1974, Shermco is the leading independent provider of safe and reliable acceptance testing, commissioning, maintenance, and repair of electrical equipment, rotating machinery and power distribution systems. With service centers located throughout North America, Shermco's certified technicians and engineers deliver technical solutions for premier customers across utility, industrial, commercial, data center and other diverse end markets. Shermco, also a leader in electrical safety and technical training, focuses on industrial electrical engineering and project management, power infrastructure, wind turbine maintenance and disaster recovery services.

Alex Earls, Partner and head of the Business Services Group at Gryphon, said, "Shermco fits squarely within Gryphon's strategy of acquiring growing, differentiated market leaders in industries with attractive long-term fundamentals.  Ron and his management team have built a first-class business and we are excited to partner with them to support the Company's continued growth both organically and through acquisitions."

Mr. Widup stated, "We are excited to partner with Gryphon as we continue to execute our shared growth initiatives through geographic expansion, servicing national accounts, and continuing our acquisition strategies. And to support these initiatives we will continue to focus on our people through the workforce development group within the Company. We believe that Gryphon brings significant resources and relevant sector expertise to support all of these efforts."

ABOUT GRYPHON INVESTORS
Based in San Francisco, Gryphon Investors (http://www.gryphon-inv.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. For 23 consecutive quarters, Gryphon has been ranked in Preqin's prestigious quarterly PE report as one of North America's top-decile buyout firms based on consistency of strong investment returns. Managing over $4 billion of equity investments and capital since 1997, the firm has an extensive track record of leading equity investments of $50 million to $200 million per portfolio company with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon's capital, specialized professional resources, and operational expertise.

ABOUT SHERMCO
Shermco Industries is the leading independent provider of safe and reliable acceptance testing, commissioning, maintenance, repair and remanufacturing of electrical equipment and power distribution systems. With service centers located throughout North America, certified technicians and engineers focus on servicing both scheduled and unexpected projects for large commercial, industrial and utility customers. Shermco, a leader in electrical safety and technical training, focuses on industrial electrical contracting, utility, wind turbine maintenance and disaster recovery services. Shermco Industries is a member in good standing with the Electrical Apparatus Service Association, American Wind Energy Association, Professional Electrical Apparatus Recyclers League, and the InterNational Electrical Testing Association. For more information about Shermco Industries, visit: https://www.shermco.com