Watchfire Signs [1], Danville, Illinois, manufacturer of LED signs and digital billboards, has been acquired by a fund managed by The Jordan [2]Company, a middle-market private equity firm based in New York.
All members of the current management team, including Steve Harriott, Watchfire Signs’ president and CEO and Frank Dwyer, CFO, will continue in their current roles. In addition, all senior Watchfire executives and the Wood family will continue to be shareholders in the business. Members of the Wood family have been shareholders in Watchfire since the Wood’s acquisition of the business in 1971.
Watchfire has experienced rapid growth over the last five years. Over this period, Watchfire has significantly increased revenue, doubled employment, built a state-of-the-art 200,000 sq. ft. manufacturing and office facility, and strengthened the company’s management team.
“The Jordan Company has a long history of buying and building upon outstanding companies in partnership with existing owners and management teams,” says Harriott. “This is an exciting time for Watchfire; we are poised for strong growth in an industry that is still in its early stages. The Jordan Company understands the potential for Watchfire’s continued growth and increased market share.”
Watchfire Signs has been manufacturing outdoor electric signs since 1932 and has been manufacturing LED signs since 1996. The company has more than 45,000 outdoor LED signs and billboards in daily operation worldwide.
The Jordan Company, founded in 1982, is a middle-market private equity firm with over $5 billion of committed capital under management and a 30+ year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The managing partners have been investing together for over 20 years. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.