PERCEPTRON, INC.
INDUSTRY: High Technology Machine Vision
INVESTMENT THESIS: Growth Equity
ROLE: Chairman of the Board
INVESTMENT HIGHLIGHTS:
While President of EF Hutton's venture capital subsidiary, Mr. McGrath led the second round financing for this high-technology leader in machine vision. After serving ten years on its Board of Directors and helping the Company achieve its Initial Public Offering on the NASDAQ, its leading venture capital shareholders (Accel Partners, Canaan Ventures, and Adler & Company) asked him to become Chairman. Together with a new COO, Mr. McGrath restructured the organization, changed key personnel, attracted its first 30 institutional shareholders (with Harvard University and Rockefeller & Co. among the largest), and attracted its first six analyst "buy" recommendations. Under his leadership, he also significantly enhanced its public float by conducting a successful PIPE offering and by arranging for certain public institutions to privately buy shares directly from the early venture founders. After three years, when he retired as Chairman, Perceptron’s revenues had tripled, its earnings had quadrupled, and the stock price had increased from $3.60 to $37.00.
FINANCIAL RESULTS: Stock price rose 11X in three years
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