GreyLion Capital Adds Two New Investments To Its Portfolio

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Capital injections will assist Webconnex, LLC and Norwood Sawmills in reaching the next stages of their respective growth.

GreyLion, a leading a private equity firm specializing in high-growth investments in the lower-middle-market companies, announced today the acquisitions of Webconnex, LLC and Norwood Sawmills.

The transaction’s terms were not disclosed.

In conjunction with GreyLion’s value creation playbook, the respective investments will assist both companies in scaling various components of their businesses, such as hiring new personnel, expanding sales and marketing functions, accelerating new product development, introducing enterprise technology systems, and creating new value-add services for their end customers.

“We are delighted to bring Webconnex and Norwood into our family of portfolio companies,” Chip Baird, Managing Partner at GreyLion stated.

“These founder-owned and operated businesses exhibit robust and differentiated competitive positions in their respective industries.”

“They are also led by strong management teams capable of deploying our capital effectively to realize significant progress in the years ahead.”

“We are looking forward to serving as a strategic partner and working alongside their proven management teams to help drive continued growth.”

Webconnex is a leading provider of ticketing and event management software, as well as solutions for fundraising, donor management, integrated payments, and event-based registration.

Since its inception in 2008, the Company, led by Co-Founders John Russell and Eric Knopf, has assisted over 60,000 organizations in processing over $3 billion in transaction volume.

As part of GreyLion’s investment, Henry Heinerscheid and Chip Baird will join the Webconnex Board of Directors, joining John Russell and Eric Knopf.

“We are grateful for the success that Webconnex has achieved to date as a bootstrapped company,” Mr. Knopf stated.

“With new strategic capital onboard, our team looks forward to taking the company to new heights.”

“GreyLion shares our deep focus on maintaining culture as we commit to long-term growth,” Mr. Russell added.

“This partnership will allow us to accelerate investments in both human capital and technology accordingly.”

As a global outdoor equipment and lifestyle brand, Norwood is a leading provider of portable consumer-sized sawmills, as well as related consumables, accessories, and equipment.

In over 100 countries, the Company’s products are popular with a resourceful, outdoor-minded, and hands-on consumer base.

As part of GreyLion’s investment, Dave Ferguson, Dan Leever, and John McKee will join Ashlynne Dale and Norwood CEO Patrick Racine on Norwood’s Board of Directors.

“We are proud to have created a business that affords an international client base the opportunity to build their best futures through wood,” stated Patrick Racine.

“As we look to scale our business and achieve greater growth in the years to come, GreyLion is the perfect partner to help us achieve these objectives. I could not be more excited for what Norwood’s future entails.”

The additions of Norwood and Webconnex add to GreyLion’s active second half of 2021.

In September, the firm completed the sale of portfolio company MSA Security to Allied Universal, one of the largest providers of comprehensive threat protection solutions, including K9 security services.

Norwood’s financial advisor was Angle Advisors, Norwood’s legal counsel was Torkin Manes, GreyLion’s debt advisor was Raymond James, and GreyLion’s legal counsel was Latham & Watkins LLP.

In the Webconnex transaction, Vaquero Capital served as Webconnex’s financial advisor, Foley Lardner LLP served as Webconnex’s legal counsel, and Latham & Watkins LLP served as GreyLion’s legal counsel.

Owen is one of our main correspondents based out of New York.