E-Mon acquired by Branford Castle, Inc. and E-Mon Management
The transaction closed February 12 for an undisclosed amount. The management buyout, marked by the return of 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 innovative new technology, both metering and non-metering, that will leverage E-Mon’s extensive international sales distribution channel, considered one of the best in its industry.