Wednesday, August 22, 2018

Grakon Acquired For $420M

Seattle-based Grakon, a developer of lighting systems and components for the heavy truck, bus, rail, electric vehicle and power sports markets, was acquired this week by Chicago-based Methode Elecronics. Methode said Grakon had revenues of approximately $159M and EBITDA of approximately $41M for the trailing twelve months as of July 31, 2018. Methode specifically said the acquisition will help it diversity into the commercial vehicle market, as well as expand its lighting and electric vehicle offerings.