Garrett-based Group Dekko has been acquired by Graham Holdings Co. (NYSE: GHC) in Virginia. Graham Holdings Chief Executive Officer Timothy O’Shaughnessy says the deal fits a strategy of investing in companies with "demonstrated earnings potential and strong management."
He says the acquisition matches its "decentralized operating philosophy. We are a diverse group of businesses that share common goals and values but each with its own identity and workplace culture, and with management responsible for its operations."
Graham Holdings says Group Dekko CEO John Mays and the rest of the DeKalb County company’s management team will remain in place.
The holdings company also owns other manufacturers, Texas-based Forney Corp. and Joyce/Dayton Corp. in Ohio. It’s diverse portfolio includes education and media brands such as Kaplan Inc., Slate and several television stations in large markets.
Group Dekko was founded in 1952 and has three lines: work space power solutions, architectural lighting and electrical components and assemblies. In July, Group Dekko announced the expansion of its plant in Avilla and the acquisition of Morocco-based Wheelock Manufacturing. Inc.
Graham Holdings is not disclosing the price of the Group Dekko acquisition.