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Methode Completes Its Acquisition of Grakon
Methode and Grakon will focus on delivering excellence, customer service, and advanced technologies
SEATTLE, September 12, 2018 – Starting today, Grakon is conducting business as a wholly-owned subsidiary of Methode. On September 12, 2018, Grakon and Methode Electronics, Inc. (“Methode”) officially became one company.
Methode’s President and Chief Executive Officer, Donald W. Duda, said, “Grakon’s manufacturing capabilities and products will foster additional innovation within our companies, driving incremental revenue, EPS and cash flow growth and providing strong returns for our shareholders. I am delighted to officially welcome the employees of Grakon to Methode and look forward to the growth we can achieve as one company.”
Click here for the Press Release from Industrial Growth Partners, announcing the sale of Grakon to Methode Electronics.
Headquartered in Seattle, WA, Grakon (www.grakon.com) was established in 1977 and is a global leader in the design, development, and manufacture of advanced lighting and electronics systems, and engineered trim components for premier vehicle Original Equipment Manufacturers in the heavy truck, bus, rail, and powersports markets. Subsidiaries include Hamsar (www.hamsar.com) located in Burlington, Ontario and BMAC (www.bmac.ltd.uk) located in Manchester, England. Grakon is a wholly-owned subsidiary of Methode Electronics, Inc. (“Methode”).
Methode (NYSE: MEI) is a global developer of custom engineered and application specific products and solutions with manufacturing, design and testing facilities in Belgium, Canada, China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, the United Kingdom and the United States. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, safety radio remote control, sensing and optical technologies to control and convey signals through sensors, interconnections and controls. Methode’s business is managed on a segment basis, with those segments being Automotive, Interface, Power Products and Other. Methode’s components primarily serve the automobile, computer, information processing and networking equipment, voice and data communication systems, consumer electronics, appliances, aerospace vehicles and industrial equipment end markets. Further information can be found on Methode’s website www.methode.com.