EMX Industries, Inc. is pleased to announce that Watervale Equity Partners, a Cleveland, Ohio based private equity firm, and its affiliates have acquired the stock of EMX and its subsidiaries effective September 21, 2018.
Joe Rozgonyi, who founded EMX in 1987, has made the decision to sell his stock and transition the company so he can retire. He will remain a consultant to the executive management team. Joe Williams, who also invested alongside Watervale in the transaction, will lead the company as our new CEO.
For over 30 years, EMX has become a leading manufacturer of highly engineered sensors for several industries. Our main product categories include photoelectric sensors and vehicle detection sensors for the access control industry. In addition, EMX has capitalized on its expertise in optics to develop a family of sensors for the industrial automation industry including color, luminescence, opacity, contrast, light measurement, color mark, label, tin side detection, brightness, and phosphorescence sensors.
EMX will continue to operate out of our manufacturing facility in Cleveland, Ohio, and our customers will continue to receive the highest level of service from the same people in our company that they have in the past. All our managers retain their current roles and are excited to provide our customers with application-driven sensors.