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acquisitionAnnounced · Feb 24, 2026Building automation and control componentsSource · CredibleArticle · Factual

Functional Devices · L Squared Capital Partners

L Squared Capital Partners acquires Functional Devices

David Najork · Founding Software Engineer

Published Apr 29, 2026 · Updated Apr 29, 2026 · 1 min read

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Deal value

—

Target

Functional Devices

Sharpsville, Indiana

Acquirer

L Squared Capital Partners

Full Acquisition

Status

Completed

L Squared Capital Partners agreed to acquire Functional Devices. Reported deal value: Undisclosed. Status: Completed. Sector: Building automation and control components. Target headquarters context: Sharpsville, Indiana, United States.

This page summarizes publicly available information about the transaction as of 2026-02-24. Figures and status may change as filings and press coverage update.

Functional Devices Inc. , a manufacturer of building automation and control components headquartered in the town of Sharpsville , is under new ownership after being acquired by California -based private equity firm L Squared Capital Partners

Deal timeline

Announced

Feb 24, 2026 · insideindianabusiness.com

Additional milestones (proxy, vote, close) appear as filings and press updates are indexed.

Sector context

This transaction is classified in Building automation and control components. Figures and status may change as sources update.

Sources: insideindianabusiness.com · Primary article · FireStrike proprietary index