Los Angeles, CA – Hubbell Incorporated (NYSE:HUBB) (“Hubbell”) has announced the acquisition of R.W. Lyall & Company, Inc. (“Lyall” or the “Company”). FocalPoint Partners, LLC (“FocalPoint”) served as exclusive financial advisor to Lyall.
Headquartered in Corona, CA, Lyall is an industry leading manufacturer of mission-critical pipeline components and customized systems, serving the last mile of the natural gas distribution market, as well as the midstream segment of the broader oil and natural gas industry. With a comprehensive product set and reputation for unparalleled customer service and operational excellence, the Company has served as a key supplier to the nation’s top utility companies for over 40 years. Lyall is also a leader in lean manufacturing and operational efficiency. In fact, the Lyall Business System™ (LBS) has been used by organizations ranging from Fortune 500 companies to branches of the U.S. military seeking to improve operationally or organizationally. Lyall will serve as a platform for Hubbell’s emerging gas division as it looks to diversify its base of utility customers.
Jeff Lyall, CEO of Lyall, commented, “We are extremely pleased with the results of this process. Our goals were to first secure an acquirer who would continue the strong culture and ideals that created the foundation of the Company and second to ensure a process with minimal impact to our customers and employees. We are delighted that FocalPoint was able to accomplish both and deliver such a positive outcome for the Lyall family. FocalPoint ran a process that surpassed our expectations, which ultimately created numerous alternatives and drove significant value for the family.”
Impressed by Lyall’s promising growth prospects, David Nord, CEO and President of Hubbell said, “Lyall is a leader in the design and application of components and assemblies for the natural gas distribution market, whose promising growth trajectory is fueled by infrastructure replacement programs as well as housing starts. Lyall joins our Electrical Segment, and we are thrilled to welcome the Company and its employees to Hubbell.”
Regarding the transaction, Nishen Radia, Managing Partner of FocalPoint, said “We are thrilled to announce this closing as it represents another successful transaction for our dedicated Industrials group. Jeff and the Company’s outstanding management team have built an exceptional business with an unparalleled corporate culture, and we are honored to have advised them in this transaction. We are proud of the process we ran and the partner we found in Hubbell, and we congratulate them on acquiring such a high caliber company.”
Hubbell is an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. Hubbell operates manufacturing facilities in the United States, Canada, Switzerland, Puerto Rico, Mexico, the People’s Republic of China (“China”), Italy, the United Kingdom, Brazil and Australia. Hubbell also participates in joint ventures in Taiwan and Hong Kong, and maintains sales offices in Singapore, China, India, Mexico, South Korea, and countries in the Middle East. The corporate headquarters is located in Shelton, CT.
FocalPoint is an independent investment bank, specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles and Chicago, the firm serves middle-market clients throughout the U.S. and has a dedicated industrial manufacturing team. Since its inception in 2002, FocalPoint has completed approximately $5 billion in transactions. For more information on FocalPoint Partners, visit focalpointllc.com