Classic Design, a Troy-based provider of automation design and systems integration, has been acquired by Crestview Partners, a New York private equity firm. Terms of the transaction were not disclosed.
Classic is the second acquisition in Crestview’s strategy to build a market-leading global automation solutions provider. Crestview is targeting the global $500+ billion market, with a particular focus on the $70 billion global systems integration and connectivity segments, delivering fully automated solutions to customers.
The acquisition follows the August 2021 purchase of JMP Solutions Inc. in Ontario, Canada.
Founded in 1974, Classic designs, develops, and integrates of “high-quality and innovative automated systems and solutions” across a variety of sectors, including automotive and defense. Classic employs more than 120 engineers across five locations, including its headquarters in Troy and its engineering and manufacturing facilities in India.
“We are proud to have built a high-quality provider of automated systems with leading capabilities thanks to the hard work and commitment of our exceptional team members and the loyalty of our customers,” says Bharath Reddy, president of Classic. “The entire Classic team is thrilled about our partnership with Crestview and JMP. We are excited to take this next step in Classic’s evolution.”
As part of the transaction, the existing Classic shareholders will receive equity in the combined enterprise. Reddy will continue in a leadership role at Classic, serving as its president, and John Edwards will serve as vice president of Engineering.
“The acquisition of Classic is a natural next step in the creation of this platform,” says John Bubnikovich, CEO of Crestview. “The transaction more than doubles the platform’s scale and substantially expands our capacity for growth. We believe the combination of JMP and Classic accelerates our progress towards building a best-in-class global automation solutions provider that designs, engineers and integrates hardware and software to create custom automated solutions across a range of end markets.”
Mike DuBose, executive chairman of Crestview, says, “We believe there are numerous opportunities to enhance our solutions offerings and customer relationships through the combination of JMP and Classic given their complementary strengths. Classic is the second of many companies we hope to bring together to create a global market leader with operations throughout North America, Europe and Asia.”