WAYNE, Pa.—The private equity firm Saothair Capital Partners, LLC has announced that it has completed the acquisition of GatesAir through a newly-formed affiliate.
Financial terms of the deal were not disclosed.
Founded in 1922, GatesAir is a major global designer, manufacturer, and installer of wireless, over-the-air content delivery and public safety communications equipment. The company is headquartered in Mason, Ohio, with manufacturing facilities in Quincy, Illinois, and Brescia, Italy.
The companies reported that Barbara Spicek will continue to serve as president and chief executive officer.
GatesAir has gone through a number of ownership changes in recent years. In 2022 Thomson Broadcast acquired the company from an affiliate of The Gores Group.
“GatesAir holds a strong and enduring position in the global broadcast industry, built on a century of innovation and reliability,” explained Kevin Madden, co-founder and managing partner of Saothair. We are excited to partner with Barbara and her talented team to further scale the business, broaden its geographic presence, and expand its portfolio of turnkey broadcast and communications solutions.”
Richard Lozyniak, co-founder and operating partner of Saothair, added, “GatesAir has earned the trust of broadcasters worldwide through its customer-first culture and dependable solutions. We look forward to building on that foundation of trust while investing in the next phase of growth.”
Saothair describes itself as a private equity firm that is "exclusively focused on investing in middle-market manufacturing and industrial companies."
“GatesAir's 100-plus-year heritage represents more than longevity; it reflects an unwavering reliability that broadcasters depend on worldwide,” said GatesAir's president and CEO Spicek. “Saothair's partnership empowers us to accelerate innovation, bolster customer support, expand our market leadership, and deliver the breakthrough technologies that will define the future of over-the-air content delivery.”
McGuireWoods LLP provided legal counsel to Saothair on the transaction. GatesAir was represented by Akin Gump Strauss Hauer & Feld LLP for legal counsel and GLC Advisors, LLC as financial advisor.
