The First Facility Management Blog

As part of the change the manufacturer of electric submetering technology is welcoming its former president who will focus on further strengthening customer support and continuing development of its technology.

E-Mon, which produces the E-Mon D-Mon® product line, announced yesterday its sale by Hunt Power, L.P. to the E-Mon management team backed by private equity investor Branford Castle, Inc. The transaction closed the 12th of this month for an undisclosed amount.

The management buyout, marked by the return of former company president Don Millstein, is seen as a positive move both by E-Mon employees and outside sales representatives, many of whom knew Millstein during his 1991-2004 tenure as E-Mon president. Current employee levels and facilities will remain intact within the newly formed EMon, LLC.

“We’re very excited about re-establishing E-Mon as an independent company,” Millstein said. “This transaction allows us, with Branford’s help and resources, to meet the challenges of our expanding international base of commercial, industrial, and institutional users.”

Long-time E-Mon employee, engineering VP Dave Bovankovich, added, “We’re thrilled at the prospect of rededicating our full engineering resources to maximize our core submetering business by accelerating the development and sale of innovative new projects like our recently introduced wireless system.”

As President and CEO, Millstein’s focus will be on the company’s traditional submetering business. Elements of the strategy will include identifying new markets for existing products and improving the company’s manufacturing and operational efficiencies. In parallel, Millstein will spearhead development of new technology, both metering and non-metering, that will leverage E-Mon’s extensive international sales distribution channel.

As a “hands-off” behind-the-scenes partner, Branford will leave responsibility for daily operations to EMon management. Branford will add value by providing strategic advice and capital strength, by managing “bolt-on” acquisition initiatives and by providing door-opening relationship opportunities to facilitate growth. Branford is a family-run, New York-based investment firm whose successful “buy, grow and hold” strategy has worked with numerous established, small-to-medium-sized businesses for more than 20 years.