GatesAir has a new owner. The technology manufacturer has been acquired by Saothair Capital Partners, a private equity firm based in Pennsylvania.
A press release says Saothair focuses on “investing in middle-market manufacturing and industrial companies.” It often describes itself as specializing in businesses that face unique financial or operational challenges, though it did not use that terminology in its announcement.
Barbara Spicek will continue to serve as president and chief executive officer.
This is the latest in a series of ownership changes for the company over the past 13 years, and it returns the firm to U.S.-based ownership.
GatesAir was founded in 1922. It describes its business today as building wireless, over-the-air content delivery and public safety communications equipment including radio and TV. It is headquartered in Mason, Ohio, with manufacturing facilities in Quincy, Ill., and Brescia, Italy.
It was acquired in 2022 by France-based Thomson Broadcast from the Gores Group. Ten years earlier, Gores had acquired Harris Broadcast Communications from Harris Corp.; two years later, Harris Broadcast split into Imagine Communications and GatesAir.
In the announcement, Saothair co-founder and Managing Partner Kevin Madden highlighted GatesAir for its “strong and enduring position” in global broadcasting, and indicated that the new parent planned to broaden is geographic presence and expand its product line.
