The Stephens Group completed the acquisition of Kele from Snow Phipps Group.

The Stephens Group, a private, family-owned firm that invests its capital in private companies, completed the acquisition of Kele, which supplies building automation and access control products, from Snow Phipps Group, a private equity firm. Financial terms were not disclosed. "We are thrilled to add Kele to our family of companies. We’ve been searching for the ideal platform to capitalize on long-term systemic trends toward automation in all areas. Kele is a well-recognized and critical supply partner to the fragmented building automation industry. We have tracked the business for over a decade and the opportunity arose to partner with this team as a result of this highly targeted approach. Kele is perfectly situated at the intersection of specialty distribution and engineered industrial products, two of the industry sectors we know best. CEO Richard Campbell and his team are top notch and have built an impressive platform. We are looking forward to working together to execute on our shared vision to extend the leadership of this value-added, truly specialty distribution business," Clay Hunter, The Stephens Group Managing Director.