TMI Acquires Richard Gray's Power Company

[Masterlu]

In a transaction finalized December 1, 2012, Norridge, Ill.-based Transformer Manufacturers, Inc. (TMI) purchased Richard Gray's Power Company (RGPC) of New Orleans. In so doing, the 64-year-old TMI acquired a company for which it has served as the sole supplier since RGPC's founding in 1998.

RGPC's extensive dealer network and sales force should anticipate no changes in the continuation of RGPC as an operating enterprise. In fact, dealers and sales reps can expect new ownership to build a more dynamic company, with greater resources expended on design and manufacture of new products.

They can also count on continued and comprehensive sales support and service, designed to reinforce and strengthen their selling efforts every step of the way. "As a manufacturing company, we have extensive experience in providing sales and customer support," says Alex Gianaras, president of TMI. "We're well known for rapid, responsive 24-7 service, and we're constantly bringing new technologies to the market. RGPC will not only continue to thrive, but will be even better than before."

TMI's acquisition of RGPC brings together two companies that are very different in many ways, but that together enjoy an assortment of synergies. TMI was founded in Chicago in 1949 at the dawn of the television era by Gianaras' father, who helmed TMI for decades. The company first served as a manufacturer of transformers for TVs and Radios, but over the decades evolved into a maker of high-end transformers and power delivery systems to purify electrical power in many industries.

In 1998, after extensive research into potential manufacturer partners, New Orleans-based RGPC founder Dick McCarthy sought out the second-generation family-owned company to manufacture a transformer design pioneered by the company's namesake, audio technology inventor Richard Gray.

TMI took the transformer design, manufactured it, and turned it over to RGPC to sell. A partnership was born, soon growing into a roaring success, Gianaras says. "We were RGPC's vendor; they were our customer," he reports. "But it was more than that. The partnership had its roots in trust, collaboration and creativity. It benefited both companies greatly."

With McCarthy recently announcing his retirement after 15 years, TMI officers reached the decision to purchase the company, ensuring the continuation and enhancement of the outstanding products and services offered by RGPC. TMI's ownership of RGPC should bring about many combined benefits. As a company, RGPC has established strong relationships with customers ranging from audio and home theater dealers to installers who incorporate the products in high-end homes and commercial establishments.

TMI, on the other hand, has supplied leading high-end amplifier manufacturers around the world, and has dealt with leading-edge, high-quality audio systems for decades. It understands the growing importance of power enhancement and protection, which is becoming critical in the retail as well as commercial sphere.

"We are very well aware of the quality requirements of high-end audio and video providers," Gianaras says. "We will continue applying that same skill set to Richard Gray's products, as we have for the last 15 years."

Under the new ownership team, inventor Richard Gray himself will continue to be affiliated with the company that bears his name. Gray will go on serving as the creative force behind the products his namesake company distributes. In addition, Dick McCarthy III will be retained as a consultant for the new entity.

[JFR0317]

Thanks for posting, Ivan. I still remember having a great time talking with Dick McCarthy at your place at one of the first "Extravaganzas". I hope Dick and Tess are doing well!

[Masterlu]

Originally Posted by JFR0317

Thanks for posting, Ivan. I still remember having a great time talking with Dick McCarthy at your place at one of the first "Extravaganzas". I hope Dick and Tess are doing well!

John... Dick and Tess are doing fine.