Juniper Industrial Holdings, Inc
JIH.U 1Common + 1/2Warrant $10.79
$1 billion to $2 billion North American-based targets
$9.25M At Risk
1 year 2 months Left
Undustrial – companies within the industrials sector, such as those within aerospace and defense, automation, construction, and industrial technology, among others. Our management team has a track record of identifying market-leading technologies across the industrial spectrum, and an affinity for businesses with strong brands and mission-critical offerings.
Our management team has substantive experience across many different types of businesses, and a proven track record of working together for 16 years to acquire and operate product, solution, and service-oriented businesses across the commercial, industrial, and residential end markets. Their robust skill sets and deep industry experience will allow them to apply their expertise and create shareholder value across a wide range of potential target companies.
Roger Fradin, Chairman
Mr. Fradin has over 40 years of experience acquiring, building, and leading a diverse set of industrial businesses. Mr. Fradin began his career at Pittway Corporation where he held a variety of roles of increasing responsibility, including President and Chief Executive Officer of the Security and Fire Solutions segment, and helped lead an entrepreneurial team which transformed Pittway into a $2 billion world leader in electronic security and fire systems. In 2000, Pittway was acquired by Honeywell. Shortly thereafter, Mr. Fradin assumed the role of President and Chief Executive Officer of Honeywell Automation and Control Solutions. In this role, Mr. Fradin transformed ACS from a business with $7 billion in sales in 2003 focused predominantly on the U.S. market to a $17 billion in sales (as of 2014) global business leader in the development and manufacture of environmental controls, life safety products, and building and process solutions. From 2000 to 2017, Mr. Fradin oversaw, directed, and integrated the acquisition of over 60 companies at Honeywell, aggregating billions of dollars in deal value. Mr. Fradin’s strategy and execution for ACS helped deliver more than $85 billion of value to Honeywell’s shareholders. During his tenure at Honeywell, Mr. Fradin also served as Vice Chairman of Honeywell where he was responsible for acquisition strategy for all of Honeywell. After retiring from Honeywell, Mr. Fradin was named Chairman of Resideo, a leading provider of home comfort and security solutions. At Resideo, Mr. Fradin recruited the CEO, senior management team, and Board of Directors as well as installed all public company board processes and procedures. In addition to Resideo, Mr. Fradin currently sits on the boards of L3Harris Technologies Inc., MSC Industrial Direct Co., Inc., or MSC, Pitney Bowes, Inc., GS Acquisition Holdings Corp., and several of The Carlyle Group’s, portfolio companies in his capacity as a Carlyle consultant.
Currently in Board of Directors for the new GoldMan Sacks SPAC “ GSAH “
Brian Cook, CEO
Mr. Cook has over 20 years of experience within mergers and acquisitions, business development, and strategic planning across a wide range of industries. Mr. Cook began his career at PricewaterhouseCoopers, or PwC, where he was responsible for providing business and financial due diligence and transaction structuring services to financial sponsor and corporate clients on a global basis. While at PwC, Mr. Cook’s transaction experience included Viacom’s acquisition of CBS, Ingersoll-Rand’s disposal of Ingersoll-Dresser Pump and Ford Motor Company’s acquisition of the Volvo Car Corporation. Following his tenure at PwC, Mr. Cook served as the Vice President of Corporate Development and subsequently Global Head of M&A at Honeywell, in which he oversaw a global team of approximately 25 people. Over the course of his 17 years at Honeywell, Mr. Cook aided or led the execution of over 60 buy- and sell-side transactions, most of which were attributable to the ACS segment in which he partnered directly with Mr. Fradin. These transactions included the acquisitions of Novar plc, Norcross Safety Products and Intelligrated, among others. During 2018, Mr. Cook led the execution of the tax-free spinoffs of Honeywell’s Home Automation (Resideo) and Turbochargers (Garrett Motion) businesses. Mr. Cook’s transaction experience includes public and private transactions across a variety of end markets and product categories.
Unlike the recent flurry of IPOs associated with tech-related assets, we have found that most industrial companies offer potential investors attractive cash-flow dynamics, which could allow for dividends, share repurchase, growth investments and a healthy M&A pipeline. Most industrial companies operate within a more stable market, making themselves less susceptible to market disruptions. For example, secular growth trends continue to prevail against cyclical trends. Moreover, industrials are often critical to the overall health and stability of the global economy with their steep involvement in distribution, defense and supply chain and logistics. These same segments are often driven by industry codes and standards that can help sustain their business models while presenting meaningful barriers to entry.
We have our eye on several fragmented industries in which we would be able to acquire a company and execute a similar strategy. However, we are open to acquiring an asset in a consolidated subsector if it has other attractive upsides such as the potential for global expansion or a unique channel presence.
Brian and I must focus on finding a company that falls within, or parallel, to the industrial sectors we have worked with in the past.
and has the potential to roll other businesses into it.
find a company that has senior leaders that have not only passion for what they do, but also an in-depth knowledge of their field.
Roger and I both firmly believe that the “best SPAC assets” are those companies in areas that will be in demand by the public markets (e.g., aerospace, automation and industrial technology), will be well-covered by research analysts and have favorable trading comps.