Switchcraft is a leading supplier of a broad line of components for the audio, video, telecommunication, computer, medical, military, appliance, transportation and instrumentation industries. With a basic line of over 5,000 standard products and thousands of variations, Switchcraft markets products both domestically and internationally through a network of manufacturers' representatives and independent distributors.
According to Ketih Bandolik, CEO of Switchcraft, “ My partner Dave Dunmead and I have been running Switchcraft together for nearly twenty years under both corporate and private equity ownership. One of the reasons we elected to establish a partnership with ClearLight was the significant experience their deal team possessed in working with middle market manufacturing companies like ours. They quickly understood that we knew how to effectively grow and manage our business and as such we have not had to spend a significant amount of time with them reviewing our day-to-day management decisions. They have had a “light touch” in their oversight which we appreciate and this has allowed us to maximize our time building value for all shareholders.”
“On the other hand, they have been of great assistance in developing an expanded equity program that included more of our managers with a mechanism that aligns the interests of management and ownership at the Company more effectively than at anytime in the last twenty years. Recently, they also provided significant help and counsel in Switchcraft’s successful defense of a patent infringement claim in federal court brought by one of our competitors.”
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