Kele, Inc. Acquires Lesman Instrument Company

January 8, 2021

LITTLE ROCK, ARKANSAS – JANUARY 8, 2021.  Kele, Inc. (“Kele”), a portfolio company of The Stephens Group, LLC (“The Stephens Group”) and leading value-added distributor of building automation peripherals and controls solutions, announced today that it has acquired Illinois-based Lesman Instrument Company (“Lesman”). Terms of the transaction were not disclosed.

Founded in 1962 and based in Bensenville, Illinois, Lesman is a specialty distributor of products used to measure, analyze, control and automate a wide range of industrial processes. Products include various temperature, pressure, level and flow instruments manufactured by industry-leading OEMs. Mike DeLacluyse, President of Lesman, along with the current management team and employees will remain with the company and day-to-day operations will not change.

“Mike built a fantastic business, and we are thrilled to partner with him and the entire team at Lesman,” said Richard Campbell, CEO of Kele. “We look forward to working with Lesman to expand Kele’s capabilities in the process automation market.” Grant Jones, Managing Director at The Stephens Group added, “Lesman is an excellent business and a great fit with Kele. We are excited to support the Kele team as they build the leading distributor of process and automation solutions.”

“It was critical to find a partner who shared our commitment to delivering value to our suppliers and customers. Furthermore, it was clear that Kele and The Stephens Group were a good cultural fit and committed to the success of our employees. I am very much looking forward to the growth opportunities that lie ahead,” said DeLacluyse.

Bryan Cave Leighton Paisner LLP served as legal counsel to Kele. Livingstone Partners LLC served as financial advisor and Levenfeld Pearlstein, LLC served as legal counsel to Lesman.

ABOUT KELE, INC.

Based in Memphis, Tennessee, and founded in 1983, Kele is the leading distributor of building automation peripherals and controls solutions. Kele provides its customers access to over 125,000 SKUs in 24 product categories from over 300 leading suppliers, including manufacturers of various sensors, flow meters, transmitters, switches, gauges, valves, actuators, relays, controllers, enclosures, tools, lighting, power supplies and numerous other products critical to the proper functioning of commercial building automation systems (e.g., HVAC and lighting). The Company’s products can be integrated into pre-existing, new construction and retrofit applications, and a large portion of demand comes from the recurring break/fix needs of the installed base of existing commercial buildings. In addition to having a robust product offering, Kele offers a variety of value-added services including product selection expertise, technical support, custom panel assembly, calibration and programming, order tagging and kitting, as well as a broad selection of Kele® branded products.

ABOUT THE STEPHENS GROUP, LLC

The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Stephens family, The Stephens Group has a long history of providing sophisticated, strategic expertise and taking a partnership approach to help companies successfully achieve their strategic visions and build long-term value. With over $1.5 billion invested since 2006, The Stephens Group targets investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, B2B food and consumer products, technology infrastructure and tech-enabled services, as well as select opportunistic situations.