•  Adcole, LLC is a leading designer and manufacturer of industrial metrology products that are used in high-precision, tight tolerance applications
• Mesirow acted as Adcole’s exclusive financial advisor on its sale to Management and an undisclosed strategic partner 

CHICAGO, September 13, 2022 – Mesirow, an independent, employee-owned financial services firm, has announced it acted as the exclusive financial advisor to Adcole, LLC (“Adcole” or “The Company”), a portfolio company of Artemis Capital Partners (“Artemis”) to Management and a private strategic partner. Financial and other terms were not disclosed.  

Headquartered in Marlborough, MA, Adcole, LLC is a leading manufacturer of automated metrology equipment with a 60-year history of providing innovative, high-precision, high-quality measurement solutions. Adcole offers the most accurate and precise gages on the market, providing measurements to the submicron level. Adcole’s precision measurement solutions are used in the automotive, robotics and aerospace industries, among others. 

Nathan Moeri, Managing Director of Mesirow Investment Banking, said, “We were honored to work with Adcole and Artemis on this transaction. Adcole has a long history of excellence in manufacturing precision measurement products and a world-class customer base. This transaction will enable Adcole to continue to reinvest in research and development and expand into new, high growth markets.”

Jeff Walker, CEO of Adcole said, “The entire Adcole team is eager to make its mark on this new and exciting chapter of our company. Together with our strategic partner, we will be focusing development on current and yet-to-be released products that will grow alongside our customers as the world evolves into greener and more efficient engines, electric motors, and other industrial technologies.”

Peter A. Hunter, Managing Director of Artemis said, “We are very pleased with what we have accomplished with Jeff Walker and the Adcole Metrology team during our ownership. Adcole is well positioned to continue to innovate and meet the needs of its existing and future customers. There is an exciting future ahead of them. Overall, the partnership of Adcole Maryland Aerospace, Adcole Metrology, and Artemis was a success for all stakeholders and we are grateful for the valuable guidance and dedication from the Mesirow team to achieve these results."

The sale of Adcole, LLC represents another successful assignment completed by Mesirow Investment Banking and highlights the firm’s expertise within the industrial technology sector. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep long-standing relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of clients.

About Mesirow 

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities, and our culture. To learn more, visit mesirow.com and follow us on LinkedIn.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.

About Adcole, LLC

Adcole, LLC is a leading designer and manufacturer of industrial metrology products. Adcole industrial metrology systems have set the world standard for accuracy, reliability, and durability since 1968. Today, leading automotive, industrial, and technology manufacturers around the world use Adcole gages to meet their most demanding measurement requirements. Learn more at adcole.com.

About Artemis 

Headquartered in Boston, MA, Artemis is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable and accelerate a healthier, safer, more connected, productive, and equitable world. For more information, please visit: www.artemislp.com.