Shorehill Capital buys Functional Devices

Shorehill Capital LLC has acquired a majority stake in Functional Devices LLC. Company management and Ken Rittmann, Functional’s prior owner, also invested. Financial terms weren’t announced. Functional Devices, of Sharpsville, Indiana, makes relays, power supplies, transformers, sensors, enclosures and wireless devices utilized in the HVAC, building and lighting controls and energy management industries. Madison Capital Funding LLC and Maranon Capital LP provided financing support. Katten Muchin Rosenman LLP served as legal adviser to Shorehill and Ice Miller LLP served as legal adviser to the seller.

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