Vanner has been acquired by Havis, a portfolio company of Guardian Capital Partners
March 2024
Vanner, a leader in power conversion and power transformation for commercial vehicles has been acquired by Guardian Capital Partners (“Guardian”) for its portfolio company, Havis, in a transaction led by Copper Run. The combined knowledge and resources of Vanner and Havis are set to drive the development of cutting-edge solutions for in-vehicle rugged technology applications.
Headquartered in Hilliard, Ohio, Vanner brings nearly 50 years of experience of providing power conversion and power transformation for commercial vehicles, including buses and ambulances. The company produces high voltage dc-dc converters, idle-reduction systems, static and dynamic inverters, and more.
“We are thrilled to welcome Vanner to the Havis family. Not only are we expanding our footprint and infrastructure in key ways, we are also further augmenting our engineering resources and benefiting from talent throughout all functions,” said Max Rogers, CEO of Havis. “Together, we will be able to better serve our customers and shape the future of power management in rugged environments.”
Scott Evans, Managing Partner of Guardian, stated, “Vanner is the latest strategic addition to the Havis platform, and we are excited to leverage the collective and complementary capabilities, end markets, and relationships to create further value for customers and partners. Moreover, Havis represents a highly successful partnership for Guardian – highlighting a key focus area for us within manufacturing and industrial technology – spaces in which we continue to actively seek new investment opportunities.”
“Copper Run ran a thorough process from start to finish,” said Darrell Austin, Vanner’s former Chairman. “They did their homework on our business and identified the ideal strategic partner. Copper Run stayed focused through the due diligence and closing process. While enterprise value was important to us, our ownership group wanted a buyer that would be a good cultural fit with Vanner and could take the business to the next level. We knew from the initial conversations that Havis and their Guardian partners were the right fit for Vanner. We wish our employees and Havis well. They bought a great company.”
Copper Run President, Andy Hays, said of the transaction, “The Copper Run team worked diligently with Vanner leadership to find the right buyer for a unique business. We are proud to have served as the sell-side advisor to Vanner.”
ABOUT VANNER
Vanner is a groundbreaking systems integrator providing engineering excellence and expertise in power conversion and power transformation for commercial vehicle electrification. Since 1977, Vanner has been a leading engineering, designer, and manufacturer of customized, proprietary power conversion, energy management, and communication systems, such as electric hybrid electrification systems, inverters, equalizers, alternators, isolators, and converters for commercial vehicles. Vanner manufactures and integrates products that are rugged, reliable, and safe. Vanner’s headquarters and manufacturing are in Hilliard, OH.
ABOUT COPPER RUN
Headquartered in the heartland, Copper Run is a different kind of investment bank. We focus exclusively on middle market transactions, providing buy-side and sell-side M&A advisory on deals between $10M and $250M. Our clients include top-tier private equity firms, sponsor-backed companies, and middle market businesses.
ABOUT HAVIS
With a history dating back more than 80 years, Havis is the leading designer and manufacturer of highly engineered mobile workforce solutions, enabling technology that moves business forward. The Company’s comprehensive portfolio of best-in-class productivity and safety solutions are integrated with critical technology to ensure security, accessibility, and reliability. Havis takes a customer-centric approach to its business and is dedicated to consistently researching and developing innovative, value-added products and solutions for mobile and related applications worldwide. Havis currently employs approximately 500 team members at locations including Warminster, PA (HQ); Plymouth, MI; Burnsville, MN; Hilliard, OH; and the United Kingdom.
ABOUT GUARDIAN CAPITAL PARTNERS
Guardian Capital Partners is an operationally focused private equity firm based in suburban Philadelphia. Guardian makes control investments in lower middle market consumer, niche manufacturing, and specialty business services companies. Guardian partners with management teams to provide equity capital to fuel the growth of privately held businesses. We believe the private equity experience and complementary skill sets of the Guardian team provide a unique combination of operating and finance capabilities resulting in certainty of execution and meaningful long-term value creation for its portfolio companies.