Griffon history

Instrument Systems Corporation bolstered its aviation electronics business with the 1961 acquisition of Telephonics Corporation.

Garrett’s strategy accelerated the growth of Instrument Systems at an astonishing rate, transforming it from a small Long Island electronics company in 1963 to a nationally recognized industrial conglomerate in only seven years.

Edward Garrett was named chairman and president of ISC in 1964.

In 1968 Instrument Systems, now headquartered in Huntington, Long Island, began selling shares on the American Stock Exchange.

Instrument Systems Corporation, Annual Report, 1969.

A heavy user of integrated circuits, Instrument Systems created a semiconductor division in 1970 and announced plans to build its own microelectronics manufacturing plant in Huntington.

The company's Phonplex Corp. subsidiary was seeking customers for a proposed computer with voice-response capability. 'All it takes is a computer, a push button telephone and a solid-state memory bank of `phonemes,' Edward Garrett told Gene Smith of the New York Times in 1971.

Shedding Unprofitable Divisions: 1974-83

1976: The company sells its plastics and packaging divisions.

In 1977, to satisfy our own internal design requirement for more advanced, complex and increasingly sophisticated custom integrated circuits, Telephonics established its Telephonics Large Scale Integration (TLSI) subsidiary.

Edward Garrett suddenly fired his brothers in December 1978 and 33 other executives the following month.

Instrument Systems, which moved its headquarters from Huntington to nearby Jericho in fiscal 1980, fell victim to the severe recession of 1980-82, losing $41.3 million during this period.

Leading the way was Telephonics, which in 1981 received a five-year order worth about $100 million to supply the central integrated test system for Rockwell International Corp.'s B-1B bomber.

Following Edward Garrett's death in 1982, Harvey R. Blau was named chairman of the board and CEO. Blau moved ISC from "the brink of not surviving” back on a profitable footing by accelerating Garrett's divestiture and cost-cutting plan and selling ISC's window, lighting and metal casting operations.

1983: Nine unprofitable divisions have been sold in three years.

In 1984, ISC acquired troubled clothing manufacturer Oneita Knitting Mills, Inc., for $14 million.

The purchase of Clopay Corporation in 1986 for $37 million represented ISC's most successful diversification effort under Blau.

In 1988, Telephonics acquired the Command Systems Division (CSD) of Eaton/AIL. With its distinguished history dating to the earliest days of radar, Identification Friend or Foe (IFF) and Air Traffic Control (ATC) technology, CSD brought expanded capabilities to Telephonics.

Growing in sales each year and solidly profitable, the company was now worth about $9 a share, compared to only $1 a share in 1989.

In 1991, Clopay accounted for 70 percent of ISC's $50 million operating income.

By 1992 Clopay was the nation's leading manufacturer and retail supplier of residential garage doors, and also the leading supplier of plastic liners for diapers, surgical gowns, and drapes, and films and laminates for disposable surgical instruments.

He is succeeded as CEO by his son-in-law Ronald Kramer, a former investment banker and executive at Wynn Resorts, who has served on Griffon’s board of directors since 1993.

Instrument Systems changed its name to Griffon in 1995.

Clopay Plastics formed a joint venture named Finotech with German-based Corovin GmbH to manufacture specialty plastic films and laminates in Europe in 1996, taking a 60 percent stake in the new company.

Griffon sold the specialty hardware portion of its business in 1997.

Clopay also acquired Bohme Verpackungsfolien GmbH & Co., a German manufacturer of plastic packaging and specialty films, in 1998.

Griffon had a long-term debt of $135.3 million at the end of fiscal 1999.

In 2000, Telephonics acquired the RDR line of weather radar products from Honeywell, Inc.

In 2004, Telephonics acquired Saab AB’s Short Range Radio product line, naming the versatile wireless communications system TruLink® and expanding its capabilities to include encrypted and submersible options.

By 2006, the installation services subsidiary served 17 percent of all new residential housing in the United States.

The bursting of the United States housing bubble in 2007 and subsequent collapse of the subprime mortgage industry and global financial crisis affected the garage door and installation services subsidiaries severely and depressed Griffon's overall financial results.

Blau and the Griffon board turned to Griffon Vice Chairman Ronald J. Kramer to succeed Blau as CEO, effective April 1, 2008.

In 2010, Telephonics opened its Aircraft Integration Services in Elizabeth City, North Carolina.

Kramer strengthened the new subsidiary through further acquisitions, which were integrated into Ames (renamed The AMES Companies). In 2011, Griffon acquired the Southern Patio pots and planters business from Southern Sales & Marketing Group for $23 million.

In 2012, the company named Robert Mehmel President and COO. Mehmel joined Griffon from DRS Technologies, a manufacturer of defense electronic products, systems, and military support services, which grew from $400 million to over $4 billion in sales during his tenure.

2013 Telephonics Celebrates its 80th Anniversary.

An important milestone for Mahindra Telephonics was the opening of the first private joint aerospace and electronics manufacturing facility in Prithla, India, which took place in February 2014.

In November 2017, Griffon announced the sale of its Clopay Plastics business to Berry Global (NYSE:BERY) for $475 million.

Kramer was appointed chairman of the board in 2018, succeeding Harvey Blau after his death in January 2018.

On August 6th, 2019 Telephonics announces its expansion in Elizabeth City, NC with a ribbon cutting ceremony at our new manufacturing facility.

Operations within the facility began in the spring of 2020.