Pelco Products Inc. Acquires Novax Industries Corporation
Chattanooga, TN, June 17, 2022
River Associates Investments, L.P. (“River Associates”), a longstanding lower middle market private equity firm based in Chattanooga, TN, announced the acquisition of Novax Industries Corporation (“Novax”) by its Edmond, OK based portfolio company Pelco Products Inc. (“Pelco”). The acquisition deepens Pelco’s commitment to its customers as a single source solution within the traffic industry and strengthens Pelco’s mission of Innovation, Quality, and Service.
“We are pleased to announce that Novax Industries will be joining the Pelco Products family”, says Paul Koenig, President of Pelco Products. “Pelco and Novax have had a long-standing relationship collaborating on product development projects. The addition of Novax broadens our reach by providing industry leading Intelligent Transportation Systems and allows the combined companies to expand our product offerings and coverage to our valued customers.”
For over 40 years, Novax Industries Corporation has designed and manufactured industry-leading products that have improved vehicular flow and the safety of drivers, passengers, and pedestrians. In that time, Novax has staked out and maintained a leading position in traffic management and universal pedestrian access solutions.
Douglas Gubbe will transition into the role of President of Novax Industries, effective immediately. Douglas, who has been with Novax almost 40 years, as a shareholder/Director and most recently VP/CTO before promotion to President, says, “We look forward to this new chapter with Pelco, the great people that define Pelco and their extensive history of innovation, quality and service. With our combined resources, we will continue to push boundaries in smart city solutions that enhance mobility, efficiency and safety for our customers.”
River Associates and the management team at Pelco continue to seek complementary strategic acquisition partners for the company. For more information reach out to Mark Jones.
Based in Edmond, OK, Pelco Products, Inc. specializes in innovative design and manufacturing of traffic and utility products selling to all 50 states and multiple international markets.