Antares Capital and American Capital have arranged for USD $170 million in financing to support the acquisition of Kele Inc. by Snow Phipps Group LLC. Kele is a distributor of peripheral control products, including control valves, used in industrial and commercial building automation systems. Snow Phipps is a private equity firm focused on middle-market control investments.
Headquartered in Memphis, Tennessee, Kele supplies over 108,000 peripheral control products, including control valves, pressure controls and sensors, all critical components for the efficient operation of commercial and industrial buildings. These products are used to detect and transmit information such as room temperature and humidity to building controllers, allowing building operators to manage internal environments, save on energy costs, and keep HVAC systems running correctly.