RLE Technologies, a Fort Collins, Colorado-based provider of facility environment monitoring, fluid leak detection, and airflow management products, has announced that it has been acquired by May River Capital, a Midwest-based private equity firm focused on helping high-caliber industrial businesses grow and prosper. Terms of the transaction were not disclosed.
Founded in 1984 by Don Raymond and his family, RLE Technologies (RLE) has established itself as a proven provider of a mission-critical product suite renowned for its ease of use, reliability, and complete end-to-end solutions. RLE designs and manufactures environmental monitoring equipment for data centers, critical facilities, and other applications, serving a long-standing customer base of blue-chip OEMs, distributors, value-added reseller partners, and end users. RLE's product suite makes a significant difference in its customers' facilities management experience by preventing unforeseen downtime in crucial applications and improving operational efficiencies.
Under the leadership of CEO Tim Hirschenhofer, the company has achieved impressive growth over the past several years and is well-positioned to benefit from industry tailwinds including the proliferation of data and an increasing need for energy-efficient facilities. Hirschenhofer and the entire RLE leadership team will continue to lead the organization in their current roles.
"We are excited about the next phase of growth for RLE in partnership with May River," Hirschenhofer said. "The financial and operational resources that May River brings will allow us to best serve our customers going forward."
Patrick McVickers, vice president at May River, added, "RLE represents a platform acquisition for May River focused on environmental monitoring within the data center and critical facilities end markets." He continued by saying "May River is excited to partner with Tim Hirschenhofer and the entire RLE management team and to continue to support them in growth."
Doug Keeports, member of May River Capital's Executive Resource Group, and an experienced executive within the facilities detection and monitoring sector, will serve as a board member at RLE. Rick Weiler, current CEO of May River Capital portfolio company Dickson, will also serve as a board member at RLE.
Integris Partners Ltd. and Coan, Payton & Payne LLC served as financial and legal counsel to RLE Technologies while Paul Hastings LLP served as legal counsel to May River. Tree Line Capital Partners LLC provided debt financing in support of the acquisition.