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The Business
Ergodyne (www.ergodyne.com) is a St. Paul, Minnesota-based designer and marketer of critical-use personal protective equipment (PPE) in the U.S. and internationally. As one of the most authentic, venerable, and trusted brands in the PPE industry for over three decades, Ergodyne is widely recognized as an innovator of high-quality, functional, and fashion-forward products that offer above-standard safety and value to customers and end users. Since its founding, Ergodyne’s offering has grown from a single product to a full line of work gear, all precision crafted to provide protection, promote prevention, and manage the elements for workers on jobsites worldwide. Ergodyne’s branded portfolio of product solutions features over 750 models and is marketed to leading distributors and retailers serving diverse end markets.

The Industry
Ergodyne is a highly-differentiated leader within the $10+ billion U.S. PPE market, which is expected to experience long-term growth due to several favorable market dynamics, including (i) increasingly stringent health and safety regulations, (ii) unacceptably high incidence of worker injuries, deaths and associated costs, (iii) product innovation and technology advancements, and (iv) strong, growing end-use markets for PPE.

The Process
Prestwick initiated this transaction and acted as the exclusive financial advisor to Ergodyne and its shareholder. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Klein Tools, an Illinois-based manufacturer of premium- quality, professional-grade hand tools. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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The Business
GAHH Automotive (www.gahh.com), located in North Hollywood, California, is a leading designer, manufacturer, and marketer of aftermarket convertible tops, Jeep tops, and vehicle interiors, including seats, carpets, door panels and dash covers. The company’s portfolio of brands include GAHH, Robbins, and E-Z ON.

The Industry
GAHH Automotive participates in the growing U.S. automotive aftermarket, a $287 billion market in 2017.  Within the U.S. automotive aftermarket, GAHH maintains a #1 market position in aftermarket convertible tops and enjoys an emerging presence in Jeep tops.  Continued demand for GAHH’s products will be driven by long-term growth in the number of convertibles and Jeeps in operation, as well as favorable replacement demand trends as these vehicles continue to age.

The Process
Prestwick initiated this transaction and acted as the exclusive financial advisor to GAHH Automotive and Argenta Partners, a private equity firm located in Dallas, Texas. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with River Associates. Prestwick’s process included private equity groups and strategic acquirers.

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The Business

ADO Products, LLC (www.adoproducts.com) is a Rogers, Minnesota-based provider of insulation accessories serving the North American residential construction market. ADO is a value-added supplier that designs and manufactures attic insulation vents marketed under the Durovent and proVent brands, as well as distributes a broad range of insulation accessories, including foam, netting, plastic sheeting, protective gear and other related building products. ADO markets its products to customers throughout the building products value chain, including insulation contractors, home improvement retailers and wholesale building products distributors.

The Industry

ADO participates in the growing $8+ billion U.S. insulation market. Within the U.S. insulation market, ADO maintains a #1 market position in attic insulation vents and enjoys an emerging presence in other insulation accessory categories. Continued demand for ADO’s products will be driven by (i) growing U.S. insulation market, (ii) long-term projected growth and positive new housing construction trends, (iii) favorable regulatory environment for energy efficiency resulting in increased insulation spend, and (iv) balanced mix of repair/replacement demand for insulation accessories.

The Process

Prestwick initiated this transaction and acted as the exclusive financial advisor to ADO and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with TopBuild Corp. (NYSE: BLD) and its subsidiary, Service Partners. TopBuild is the nation’s largest installer and distributor of insulation products, and Service Partners is a leading distributor of insulation products with over 70 branches throughout the U.S. Prestwick’s process included both domestic and international strategic acquirers.

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The Business

Terracare Associates (www.myterracare.com) is a Denver, Colorado-based outdoor maintenance service company, providing a full range of landscape and infrastructure services to commercial customers and governmental authorities in the western U.S. The Company offers a broad range of services that are critical to its customers, including contracted landscape maintenance, landscape enhancements, irrigation, and snow removal. Terracare also offers contracted public works services, such as asphalt and concrete repair, sign replacement, and emergency response to municipal customers. Terracare operates multiple branches throughout California, Texas, and Colorado.

The Industry

Terracare participates in both the $78+ billion U.S. landscape services and $200+ billion U.S. municipal public works industries. The market for landscape maintenance and public works services is expected to grow steadily over the next several years, and is not typically correlated to economic cycles, as commercial businesses and governmental authorities must maintain their properties to retain and attract new clients and provide basic public services for their citizens.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Terracare and Progress Equity Partners, a private equity firm with offices in Dallas and Denver. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Monarch Landscape Holdings and One Rock Capital Partners. Prestwick’s process included private equity groups and strategic acquirers.

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Freeman Beauty (www.freemanbeauty.com) is a Los Angeles, California-based developer and marketer of specialty beauty products with a portfolio of brands in the skin care, hair care, foot care and specialty bath and body categories. As a leader in the beauty industry for over 40 years, Freeman focuses on on-trend, nature inspired, pampering, high-performing products at an accessible price. Freeman’s iconic brands serve categories with explosive growth and include Feeling Beautiful, the #1 facial mask brand in the mass market. Freeman has a proven track record over the last several years of innovation across its portfolio of brands, which also includes Beauty Infusion facial masks, Psssst! dry shampoo, c.Booth bath and body care products, and Bare Foot foot treatments. Freeman’s brands are marketed in the food, drug, mass and specialty beauty retail sectors, in addition to e-commerce channels.

The Industry

Freeman participates in the U.S. skin care and hair care markets. Within these markets, Freeman is a leader in the facial mask and dry shampoo segments, which rank among the fastest growing beauty and personal care categories. Strong demand growth for facial masks and dry shampoo is expected to continue due to rising usage frequency by consumers, growing consumer preference for natural beauty products, product efficacy vs. other skin and hair care alternatives, and new product innovation.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Freeman Beauty and Champlain Capital, a private equity firm with offices in San Francisco and Boston. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Yellow Wood Partners, a Boston-based private equity group focused on acquiring consumer brands. Prestwick’s process included private equity groups and both domestic and international strategic acquirers.

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The Business

Clad-Rex Steel, LLC (www.cladrex.com) is a Chicago, Illinois-based specialty manufacturer of vinyl-clad metal used in a variety of industrial, commercial and consumer applications. Vinyl-clad metal is a coated metal product that provides both decorative and functional utility and offers superior aesthetic appearance, durability and surface performance relative to alternative solutions. Clad-Rex has served the vinyl-clad metal market for over 50 years and maintains a leadership position in several niche markets and a growing presence in industrial and consumer markets. The Company’s differentiated business model and the diversity of markets served position Clad-Rex for continued growth and market share expansion.

The Industry

Clad-Rex participates in the specialty coated metal market. Within the specialty coated metal market, the Company has emerged as a leader and innovator within the vinyl-clad metal market segment. Vinyl-clad metal can be a viable alternative relative to conventional pre-painted or powder-coated metal. Today, Clad-Rex is considered one of North America’s largest providers of vinyl-clad metal and serves companies that participate in a variety of markets, including appliances, architectural design, building products, foodservice equipment, marine, medical equipment, and point-of- purchase/merchandising displays, among others.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Clad-Rex and its private equity shareholders, Bounds Equity Partners (Chicago, Illinois) and Stonehenge Partners (Columbus, Ohio). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Main Street Capital Corporation (NYSE: MAIN), a Houston, Texas-based principal investment firm.

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The Business

Midwest Industrial Rubber, Inc. (MIR) (www.mir-belting.com) is a St. Louis, Missouri-based value-added supplier of industrial maintenance, repair, and operations products, specializing in the fabrication and distribution of lightweight conveyor belting and related conveyor components and accessories. MIR is the largest independent lightweight belting fabricator/distributor in the U.S. and holds a sustainable, differentiated position as the value and service leader in its marketplace. Through its national network of sales and fabrication centers, MIR serves the conveyor maintenance, replacement, and overhaul needs of more than 2,500 active customers, with a focus on manufacturers of non-discretionary consumer staples (e.g., food, personal care and hygiene, etc.).

The Industry

MIR generates the majority of its sales from the food processing and tissue and personal hygiene industries (e.g., bath tissue, feminine care, diapers, etc.), which are large, growing and recession-resistant end markets. These types of products address basic human needs, exhibit highly inelastic demand, and are rarely cut from consumer budgets. More importantly, these segments are highly regulated and exhibit more predictable maintenance spending cycles than other manufacturing environments. The food processing and tissue and personal hygiene industries collectively generate over $1.0 trillion in sales annually and typically account for nearly 20% of U.S. annual personal consumption expenditures.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to MIR and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Incline Equity Partners, a Pittsburgh, Pennsylvania-based private equity group.

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The Business

Magnum Systems, Inc. (www.magnumsystems.com) is a Kansas City, Kansas-based designer and manufacturer of packaging and material handling systems for dry bulk solid and powder materials. Magnum has developed a full range of value-added equipment solutions that address the specific needs and performance requirements of customers in a variety of markets, including agriculture, food, chemical, industrial, and plastics, among others. Through its Taylor Products brand, Magnum provides packaging solutions, including bag weighing, filling and unloading equipment, as well as robotic and automated packaging solutions. Through its Smoot brand, Magnum offers a full spectrum of custom pneumatic conveying systems that are used to efficiently transport dry bulk solids within a facility over long distances.

The Industry

Magnum participates in both the $7+ billion U.S. packaging equipment and the $4+ billion U.S. pneumatic conveying industries. Within its product niche, Magnum has emerged as a leading provider of equipment designed to handle free-flowing materials that are difficult to package or convey in all types of manufacturing environments. Continued demand for Magnum’s solutions will be driven by (i) manufacturers focused on reducing labor costs and improving plant efficiency and throughput, (ii) facility expansion, (iii) upgrade or replacement of new equipment, and (iv) end user demand for a single-source, fully-integrated equipment solution.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Magnum and Gen Cap America, a Nashville, Tennessee-based private equity group. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Blue Sage Capital, an Austin, Texas-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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The Business

PouchTec Industries, LLC (www.pouchtec.com) is a Foley, Minnesota-based provider of outsourced liquid food processing and flexible packaging solutions, specializing in the design and manufacture of stand-up, spouted and non-spouted pouches.  PouchTec works on behalf of some of the world’s largest consumer packaged goods companies to develop, manufacture and supply liquid food pouches on a contract-manufacturing basis. PouchTec provides large-scale, turnkey, outsourced solutions to a growing list of blue-chip customers in the food and beverage industry.  PouchTec manufactures a broad range of products in both spouted and non-spouted pouches, including baby food, fruit purees, nutritional supplements, sauces, marinades and condiments, among others.

The Industry

PouchTec is a leader within the $2.0+ billion stand-up pouch market, which is the fastest-growing segment of the flexible packaging industry. Pouches have revolutionized the packaging sector and are displacing conventional rigid packaging (e.g., cans, bottles, jars, etc.) due to superior design flexibility, merchandising appeal, ease-of-use and lower cost. Stand-up pouch demand is expected to grow at 2x the rate of the overall flexible packaging market through 2023.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to PouchTec and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Kent Precision Foods Group, a wholly owned subsidiary of Kent Corporation. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Avita Drugs, Inc. (www.avitapharmacy.com) is a Baton Rouge, Louisiana-based specialized pharmacy serving the needs of people living with chronic health conditions, including HIV, hepatitis C, mental health, and solid organ transplants, among others.  Avita offers a broad range of differentiated, high-touch solutions to patients and healthcare providers including (i) proprietary adherence programs, (ii) personalized patient counseling and education, (iii) extensive 340B pharmacy dispensing, administration, and reporting services, and (iv) comprehensive patient reporting services.  Avita operates seven locations in Louisiana, Texas, and North Carolina and generates annual revenue of approximately $360 million.

The Industry

Avita participates in the rapidly growing $100+ billion U.S. specialty pharmacy industry, which consists of companies that provide dispensing, delivery, dosing, and reimbursement services for clinically intensive, high-cost specialty drugs. Continued growth of Avita’s specialty pharmacy services will be driven by (i) an aging U.S. population, (ii) increasing life-spans of patients affected by chronic diseases, (iii) growth in the number and availability of specialty drugs, and (iv) expanding utilization of the 340B program among healthcare providers.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Avita and Argenta Partners, a Dallas-based private equity group. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Long’s, a South Carolina-based pharmacy services provider and Tailwind Capital, a New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Hygrade Components (www.hygrademetal.com) is a Bethlehem, Pennsylvania-based provider of components used in the manufacture of residential and commercial windows and doors. Hygrade’s products, which include stiffeners, screen frames, muntin bars, spacers, and other components, are used to enhance the appearance and strength of windows and doors and improve the thermal efficiency of insulating glass. Over Hygrade’s 75-year history, the company developed a market leadership position within the North American insulated glass, window, and door markets. Hygrade operates three strategically-located facilities in Pennsylvania, Tennessee, and Oregon.

The Industry

Hygrade participates in the growing $15+ billion U.S. residential window and door industry. Continued demand for Hygrade’s products will be driven by (i) growth in new residential construction, (ii) increasing household renovation activity as a result of aging U.S. housing stock, (iii) the growing prevalence of vinyl windows in new residential construction, and (iv) proliferation of building code regulations specifying strength standards for windows and doors.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Hygrade. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Wincove Private Holdings, a Boston and New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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The Business

Forsythe Appraisals, LLC (www.forsytheappraisals.com) is a St. Paul, Minnesota-based provider of residential real estate valuation services to the U.S. mortgage lending industry. Founded in 1940, Forsythe is the largest independent staff residential real estate appraisal firm and has developed an outstanding reputation for providing high-quality valuation services and superior customer service, which has earned Forsythe a favored position with national and regional bank and non-bank lenders, appraisal management companies (AMCs) and credit unions.

The Industry

Forsythe is a leader within the highly fragmented $2+ billion U.S. residential real estate appraisal market. The primary driver of the overall appraisal market is the strength of the housing industry. Key influencers of the housing industry are demographic trends and the underlying economy. These favorable trends will continue to drive demand for household formations, which will generate the need for new homes via new residential development or existing home purchases. Further, U.S. mortgage origination activity is beginning to improve on the strength of the overall housing market, and Forsythe expects to continue to outperform mortgage originations and increase its overall market share.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Forsythe and Hillcrest Capital Partners, a Minneapolis-based private equity group. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with First American Financial Corporation (NYSE:FAF) and its subsidiary, First American Mortgage Solutions. First American Financial is a leading provider of title insurance, settlement services and risk solutions for real estate transactions and First American Mortgage Solutions provides comprehensive solutions for residential lenders and servicers covering the entire loan spectrum. Prestwick’s process included both strategic acquirers as well as private equity groups.

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Williams Sound, LLC (www.williamssound.com) is a Minneapolis, Minnesota-based designer, manufacturer, and marketer of professional wireless communication systems that are used to deliver sound and improve the hearing and/or communicating ability of individuals in a variety of group or gathering situations. The Company has developed a full range of proprietary, branded solutions primarily utilized in hearing assistance, language interpretation, two-way communication, and tour guide applications that span multiple end markets, including corporate, education, government, entertainment, and healthcare. Williams Sound is recognized globally as a leader within its niche due to its prominent brand, track record of developing on-trend products, and global supply chain.

The Industry

Williams Sound participates in the global professional audio/visual (“Pro-AV”) industry, an attractive, growing $92+ billion industry. Within the Pro-AV industry, the Company has emerged as an innovator and leader within the professional wireless communication and assistive listening market segment. Continued demand for Williams Sound’s products will be driven by (i) the growing number of hearing-impaired and non-English speaking individuals in the U.S., (ii) increasing hearing assistance regulation, (iii) innovations in network-enabled, internet-connected, and wireless technologies, and (iv) the growing importance of collaboration in both private and public group settings.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Williams Sound and Cardinal Equity Partners, an Indianapolis-based private equity group. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with Graycliff Partners, a New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Vintage Parts (www.vpartsinc.com) is a Beaver Dam, Wisconsin-based provider of supply chain, logistics, and distribution management services for slow-moving and inactive parts from original equipment manufacturers (“OEMs”).  Vintage Parts buys and warehouses for future sale inventories of original slow-moving and inactive parts that OEMs no longer find economical to maintain themselves. Vintage Parts has relationships with some of the most recognized industrial brands in the world, including CNH, Caterpillar, Chrysler, Ford, GM, John Deere, Harley Davidson, Honda, Komatsu, and Mercedes-Benz.

The Industry

Vintage Parts supports durable goods manufacturers in large and diverse industries.  The company purchases original service parts from more than 50 OEMs in the automotive, agriculture, heavy-truck, construction, industrial engine, material handling, mining, and oil and gas industries.  Vintage Parts actively manages more than 1,000,000 slow-moving and inactive OEM part numbers.

The Process

Prestwick Partners acted as a co-advisor to Vintage Parts and Sentinel Capital Partners, a New York-based private equity group.  Prestwick’s role in the transaction was focused exclusively on identifying family-office buyers for Vintage Parts.  GenNx360 Capital Partners, a New York-based private equity firm investing in middle market companies, acquired Vintage Parts.

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Hamer, LLC (www.hamerinc.com) is a Minneapolis, Minnesota-based designer and manufacturer of automated packaging equipment and complete systems serving a variety of growing industrial and commercial markets. The Company markets its proprietary standard packaging equipment to manufacturers or processors of a wide range of bulky, yet free-flowing products that are typically contained in large bags, including industrial (e.g., aggregates, cement, fertilizer, minerals, chemicals), lawn and garden (e.g., soil, mulch), agriculture (e.g., animal feed/nutrients, grains) and packaged-ice. Hamer’s proprietary product portfolio includes horizontal form, fill and seal machines, bag hangers, robotic palletizers, fillers and sealers, and other ancillary bagging equipment.

The Industry

Hamer participates in the $8 billion U.S. packaging equipment industry.  Within the packaging equipment industry, Hamer has emerged as a leading provider of automated bagging equipment and robotic palletizers to markets that are transitioning from manual bagging to semi-automated/automated bagging. Continued demand for Hamer’s solutions will be driven by (i) strong overall economic and packaging market conditions, (ii) manufacturers focusing on reducing labor costs and improving packaging line productivity, (iii) adoption of new packaging technologies, including automation and robotics, and (iv) end users purchasing “turnkey” packaging systems.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Hamer and private equity groups Hanover Partners and Tuckerman Capital.  Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Duravant, a Chicago, Illinois-based engineered equipment company and Odyssey Investment Partners, a New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.  This is the fourth transaction Prestwick has closed for Hanover Partners and Tuckerman Capital in the last four years.

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The Business

A&D Environmental Services (www.adenviro.com), headquartered in High Point, North Carolina, is a provider of environmental and industrial services, offering a full range of industrial, remediation, waste management, transportation, and emergency response services from eight locations throughout the southeast and Colorado. The Company offers a broad range of services that are critical to its customers, including heavy industrial cleaning, remediation of contaminated soil, hazardous and non-hazardous waste management, transportation of hazardous and non-hazardous materials, and emergency spill response and cleanup. Over its 20-year history, A&D has developed a reputation as a leader within the environmental services industry due to its strong brand, superior customer service, highly technical workforce, and broad service offering.

The Industry

A&D participates in the growing $18+ billion U.S. environmental services industry, which is expected to grow steadily over the next several years due to rising industrial activity and recovering U.S. non-residential construction.  A&D expects to grow significantly faster than the overall U.S. environmental services industry, due to the Company’s location in the southeast U.S. and economic trends at play in its served markets.  Over the last several years, the southeast has outperformed the rest of the U.S. in both population and manufacturing employment growth, driven by the region’s favorable (i) labor costs, (ii) labor flexibility,  (iii) energy costs, and (iv) real estate prices.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to A&D, Tillery Capital, Northstar Capital, and Centerfield Capital.  Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals, and negotiated the transaction with The RossWay Group, an Elyria, Ohio-based industrial and environmental services firm.  Prestwick’s process included both strategic acquirers and private equity groups.

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The Business

Coffin Turbo Pump, Inc. (www.coffinturbopump.com) is an Englewood, New Jersey-based manufacturer of specialty pumps and aftermarket replacement parts for use primarily in the growing marine, offshore oil and gas, and industrial markets, and, through its Carter Pump division, municipal water and wastewater markets worldwide. Coffin’s products enjoy strong brand recognition, and have earned a reputation among end users for quality, performance, reliability and durability. Over it’s 94-year history, Coffin has established itself as the global leader, maintaining dominant market shares within its served niche markets.

The Industry

Coffin participates in the growing $38+ billion global industrial pump market, with a particular focus on marine, industrial and offshore oil and gas applications. Coffin is the leading supplier of pumps and related parts to the growing fleet of liquefied natural gas carriers (“LNGCs”). Strong global demand for natural gas, and a growing divergence between the sources of natural gas demand and supply, have spawned increased global trade in the commodity, fueling the continued rapid expansion of the LNGC fleet.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Coffin and Navigator Partners, a Summit, New Jersey-based private equity group.  Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Argenta Partners, a Dallas, Texas-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Sencore, Inc. (www.sencore.com) is a Sioux Falls, South Dakota-based developer and manufacturer of innovative video infrastructure solutions for the cable, satellite, broadcast and IPTV markets. The Company’s reliable, customer-driven products enable the consistent and efficient delivery of high-quality video for a wide range of complex distribution and contribution applications.  The Company has developed long-standing relationships with all major North American broadcast/media, cable, satellite and telecom service providers; including AT&T, CBS, Comcast, DirecTV, EchoStar, Google, Fox/News Corp., HBO, PBS, Rogers, Shaw and Showtime, among others.

The Industry

The global video infrastructure industry is a growing $32+ billion industry consisting of companies that develop hardware and software solutions that create, prepare and deliver a full range of video content.  Within the industry, Sencore participates in the content management and distribution market, the largest and fastest growing market within the video infrastructure industry. Growth within the video infrastructure industry will primarily be driven by (i) growing consumer video adoption, (ii) rising video resolution requirements, and (iii) changing consumer behavior as end users consume content through increasingly non-traditional channels.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Sencore and The Riverside Company, a global private equity firm based in New York, New York and Cleveland, Ohio. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Wellav Technologies Ltd., a Huizhou, China-based global provider of professional video delivery, processing and monitoring solutions. Prestwick’s process included both domestic and international strategic acquirers.

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Belt Power, LLC (www.beltpower.com) is an Atlanta, Georgia-based full-service fabricator and distributor of conveyor system components, including conveyor belts, equipment, accessories and rubber, hose and gasket products. Belt Power serves the conveyer maintenance, replacement and overhaul needs of nearly 1,000 current customers with a particular focus on the food processing market.

The Industry

Belt Power primarily serves the food processing market, a growing, highly regulated market that is insulated from economic downturns. Within the food processing sector, Belt Power is a leading supplier to the poultry market, which is experiencing rapid growth as per capita consumption of poultry in the U.S. continues to increase. Belt Power’s strategically-located branch locations in the Southeast U.S. allow it to effectively service many of the nation’s top food and poultry processors.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Belt Power and Gen Cap America, a Nashville, Tennessee-based private equity group. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Shorehill Capital, a Chicago, Illinois-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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MAC, Inc. (www.macheaters.com) is a Bismarck, North Dakota-based designer, manufacturer and marketer of portable industrial flameless, indirect-fired and hydronic (glycol) surface heaters for oil & gas, industrial, construction and specialty applications. The Company’s industrial heaters are marketed primarily throughout North America under the MAC™ brand and are recognized by leading industrial and construction equipment rental providers, equipment dealers/distributors, and end users for its superior quality, durability, efficiency, low cost of ownership and ease of use. MAC is one of the largest U.S.-based portable industrial heater companies, maintaining a prominent market share position in North American regions of growing shale and oil sands exploration and production activity.

The Industry

MAC participates in the portable construction equipment market, a growing market within the $68 billion North American construction equipment industry. Continued growth within the North American construction equipment industry will be driven by (i) recovery and growth in U.S. construction activity, (ii) rising capital expenditures from the equipment rental channel, and (iii) rapid growth in infrastructure investment and drilling activity, particularly in the North American shale and oil sand regions. MAC’s established presence in North Dakota and proximity to both the Bakken Shale and Canadian oil sands make oil & gas exploration/production activity an important source of demand for MAC products.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to MAC, Inc. (Bismarck, North Dakota). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Generac Power Systems (NYSE: GNRC), a Waukesha, Wisconsin-based manufacturer of a wide range of power generation equipment and other engine powered products. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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The Business

Bri-Mar Manufacturing, LLC (www.bri-mar.com) is a Chambersburg, Pennsylvania-based manufacturer of light- and heavy-duty hydraulic dump trailers, equipment haulers, utility trailers and dump inserts. Bri-Mar’s products are used to haul a variety of construction, landscaping and industrial equipment and materials. Bri-Mar also sells parts and accessories to support its large and growing base of trailers in the market. Bri-Mar has a nationally recognized brand and a growing network of over 200 dealers, with a strong presence in the Northeast and Mid-Atlantic states.

The Industry

Bri-Mar participates in the $7.0+ billion North American trailer manufacturing market. The trailer market has experienced significant growth in recent years, attributable primarily to a rebound in the construction and landscaping markets since their cyclical lows in 2009. The trailer manufacturing market is highly fragmented – consisting of several medium-sized companies, such as Bri-Mar, and a large number of smaller, specialized manufacturers – and is poised for further consolidation.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Bri-Mar and private equity groups Hanover Partners and Tuckerman Capital. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and consummated the transaction with B Wise Trailers, a Chambersburg, Pennsylvania-based manufacturer of utility, landscape and equipment trailers. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Royal Baths Manufacturing Company, Ltd. (www.royalbaths.com) is a Houston, Texas-based developer, manufacturer and marketer of acrylic and cultured marble bathroom products, including soaker and whirlpool bathtubs, vanity tops, sinks, shower walls and bases. Royal offers residential homebuilders one of the most robust product offerings among its competitors, and with its flexible, mass customization manufacturing capabilities, is a low-cost producer among its peers. Royal maintains the leading market position in the most favorable geographic markets for building products in the U.S. – Texas and Florida. Within its served geographic markets, Royal has pioneered a unique, direct-to-builder strategy that acts as a barrier to entry and has led to long-term relationships with virtually every national and regional home builder in Texas and Florida.

The Industry

Royal participates in the $500+ billion U.S. private residential construction market. The single most important demand driver for Royal’s products is the construction of new residential houses. U.S. housing starts are expected to fully rebound over the next five to ten years, and are already up nearly 80% from recessionary lows in 2009. As the housing market continues its recovery, Royal is well positioned for continued growth, serving six of the nation’s top 20 largest metropolitan statistical areas for housing permits issued.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Royal Baths and Linsalata Capital Partners (LinCap), a Cleveland, Ohio-based private equity group. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Cotton Creek Capital, a Dallas, Texas-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Clarity Imaging Technologies, Inc. (www.clarityimaging.com) is a Saddle Brook, New Jersey-based developer, marketer and distributor of branded OEM-compatible laser toner cartridges and provider of outsourced printing services. Clarity’s patented “double yield” technology yields twice as many copies-per-cartridge as the comparable OEM cartridge, thereby lowering the overall cost-per-page by over 50%. Clarity’s high-quality products are marketed under the PageMax® brand and are compatible with all leading OEM printers. Clarity’s customers are predominantly blue-chip Fortune 500 companies and government agencies throughout the United States.

The Industry

Clarity is a leader in the OEM-compatible imaging consumables industry, a highly fragmented market consisting of over 1,000 remanufacturers, distributors and outsourced printing service providers. OEM-compatible laser toner providers command approximately 20% market share of the worldwide laser toner market. Clarity is unique among its competitors in that its products are manufactured using a proprietary technology that makes its products the most cost-effective solution on the market, with no comparable products made anywhere in the world.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Clarity and Champlain Capital Partners (Boston, Massachusetts and San Francisco, California). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Turbon AG (DB: TUR), a Hattingen, Germany-based manufacturer and marketer of printing consumables. Prestwick’s process included both domestic and international strategic acquirers.

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Scientific Anglers (www.scientificanglers.com) is a Midland, Michigan-based designer, manufacturer and marketer of branded and private-label fly fishing lines, leaders, tippets and complementary accessories. Scientific Anglers is one of the most recognizable brands in the fly fishing market, with the leading market share position for fly fishing lines.

Ross Reels (www.rossreels.com) is a Montrose, Colorado-based manufacturer of fly fishing reels, rods and related products. Ross Reels is one of the largest U.S. manufacturers of fly fishing reels.

3M Company (www.3m.com – NYSE: MMM) is a $30+ billion annual revenue diversified technology company that operates through five business groups – Consumer, Electronics & Energy, Health Care, Industrial and Safety & Graphics. Scientific Anglers and Ross Reels operated within 3M’s Consumer business group.

The Industry

Fishing represents one of the most popular outdoor leisure activities in the U.S. – with over 46 million participants and over $42 billion spent per year on fishing activities, equipment and supplies. Within the fishing industry, Scientific Anglers and Ross Reels participate in the fly fishing market. The fly fishing market is considered a niche, enthusiast market consisting of approximately five million active anglers.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to 3M Company (St. Paul, Minnesota). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with The Orvis Company, Inc., a Manchester, Vermont-based retail and mail-order company specializing in high-end fly fishing, hunting and sporting goods. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups with related portfolio companies.

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Dash Multi-Corp., Inc. (www.dashmulticorp.com) is a St. Louis, Missouri-based custom formulator and manufacturer of vinyl plastisols, polyurethanes, specialty coatings and adhesives, as well as recycled rubber products. Dash’s two primary businesses operate from seven strategically located manufacturing facilities throughout the United States and generate over $100 million in revenue annually. MarChem, Dash’s plastics and chemicals business, is a market leader in the development and manufacture of plastisols, polyurethanes, specialty coatings and adhesives widely used in a variety of industries, including medical devices, consumer products, construction, flooring, textiles and athletic facility surfacing. RB Rubber Products, Dash’s recycled rubber business, manufactures high quality and durable large mat pressed products, rolled rubber and molded goods for commercial flooring and industrial applications. RB Rubber also operates one of the largest tire recyclers in the United States, which processes roughly 30 million pounds of tires into rubber crumb annually.

The Industry

MarChem, Dash’s plastics and chemicals business, operates within the $500+ billion specialty chemicals market. The global specialty chemicals market is expanding, driven primarily by economic growth in emerging regions and increased demand for custom formulations. RB Rubber, Dash’s recycled rubber business, is an innovator and leader within the growing recycled rubber products market. This market is poised to experience further growth and expansion due to the environmental and economic benefits of manufacturing products with recycled rubber.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Dash Multi-Corp. (St. Louis, Missouri) and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Arsenal Capital Partners, a New York City, New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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JSI Store Fixtures, Inc. (www.jsistorefixtures.com) is a Milo, Maine-based designer and manufacturer of high-quality refrigerated and non-refrigerated wood merchandising displays for the supermarket industry. JSI’s products are designed to showcase “fresh” merchandise in the produce, bakery, floral, wine and other high-traffic sections of the store perimeter. The Company’s merchandising displays are widely used by North America’s most recognizable and successful supermarket, grocery and food retail chains. JSI has established itself as an innovator and leader within its niche, with commanding market shares in its primary product categories.

The Industry

JSI serves the supermarket industry, one of the only retail channels not significantly affected by economic downturns. More importantly, JSI sells fixtures and displays used in the highest traffic and most profitable departments along the store perimeter, where the impact of displays strongly influences consumer purchasing behavior. These characteristics have driven supermarkets to continuously expand and enhance the store perimeter to create competitive differentiation and remain at the forefront of merchandising trends.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to JSI and Champlain Capital Partners (Boston, Massachusetts and San Francisco, California). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with RFE Investment Partners, a New Canaan, Connecticut-based private equity group and MTN Capital Partners, a New York, New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Griffith Enterprises, LLC (www.griffithent.com) is a Cottonwood, Arizona-based aerospace systems and components manufacturer specializing in the production of mission-critical interconnect harnesses, electrical sub-assemblies and engine and system controls. The company is a low volume/high mix, value-added manufacturer of highly engineered products that provide an important link between aircraft engine controls and engines, as well as products that control and monitor aircraft engines and other systems for a wide range of aerospace and military applications. The company’s products are found on a variety of aerospace and military platforms, including commercial aircraft (majority of Airbus and Boeing platforms), as well as several business jet, helicopter and military programs.

The Industry

The global outlook for the commercial aerospace market is one of recovery and growth. Increased demand for commercial aircraft manufacturing has been driven by several favorable market dynamics, including (i) growth in global air passenger traffic, (ii) strong new order volumes and growing backlog and (iii) multi-year aircraft production ramp-up for both Airbus and Boeing. These factors, combined with the introduction of several next-generation aircraft platforms, are expected to support strong industry growth for the foreseeable future.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Griffith Enterprises (Cottonwood, Arizona) and Republic Private Equity (Denver, Colorado). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Amphenol Corporation (NYSE: APH), a Wallingford, Connecticut-based producer of electronic and fiber optic connectors, cable and interconnect systems. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Westcon Incorporated (www.westconindustries.com) is a Bismarck, North Dakota-based diversified industrial construction company that provides a comprehensive range of construction services to large industrial processing facilities located throughout the United States. Westcon specializes in construction services for a diverse group of owners and operators of industrial facilities, including oil and gas, petrochemical, power generation, agriculture and food processing, biofuels and specialty chemicals, among others. Westcon had annual revenues of approximately $180 million in 2011.

The Industry

North Dakota is the second largest and fastest growing oil producing state in the United States. This growth is primarily driven by the exploration and development of the Bakken Shale, one of the largest oil field and natural gas reserves in the U.S. Over the last decade, U.S. shale gas production has increased twelve-fold and now accounts for approximately 25% of total U.S. production. Led by new applications of hydraulic fracturing technology and horizontal drilling, development of new sources of shale gas has led to major increases in reserves of U.S. natural gas. To support this growth, over $200 billion of midstream oil and gas infrastructure capital investments will be required to accommodate new natural gas supplies and meet growing demand.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Westcon (Bismarck, North Dakota) and its private equity shareholders, Argenta Partners (Dallas, Texas) and Progress Equity Partners (Dallas, Texas and Denver, Colorado). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Bilfinger Berger SE (XETRA: GBF), a Mannheim, Germany-based international engineering and services company. Prestwick’s process included both domestic and international strategic acquirers.  This is the second time Prestwick has represented Westcon in a transaction, and the fourth and third time that Prestwick has been engaged by Argenta and Progress Equity, respectively.

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Handi Quilter, Inc. (www.handiquilter.com) is a Salt Lake City, Utah-based developer and manufacturer of long-arm quilting machines, frames and accessories for the consumer quilting market. The company’s long-arm quilting machines are used to stitch the three layers (i.e., top, batting and back) of a quilt together in an artistic and decorative fashion. Handi Quilter is widely recognized as the leader in the evolution of high-quality quilting machines, innovating new products that set the standard for quality, ease of use and functionality. The company’s products are sold worldwide in over 700 independent retail locations.

The Industry

Handi Quilter participates in the $3+ billion quilting market. Demand for the company’s products has been influenced by a number of favorable market dynamics, including a large and growing quilter population, increased spending on quilting and an aging U.S. female population. The quilting market is fragmented and ripe for consolidation – consisting of many small suppliers of quilting machines, frames, accessories, thread and fabric.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Handi Quilter, Inc., and private equity groups Hanover Partners and Tuckerman Capital. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with High Road Capital Partners, a New York-based private equity group. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Pearson Candy Company (www.pearsonscandy.com) is a St. Paul, Minnesota-based manufacturer and marketer of nationally recognized confectionery brands. Founded in 1909, the company’s flagship brands include the iconic Pearson’s® Salted Nut Roll, Pearson’s® Mint Patties, Pearson’s® Nut Goodies and Pearson’s® Bun. The company’s products are sold nationally through leading retailers.

The Industry

Pearson participates in the $30+ billion North American confectionery industry, a market characterized by intense competition and consolidation. The US confectionery market is highly fragmented, with over 1,600 manufacturers. Major competitors include The Hershey Company, Mars, Nestlé USA, and Kraft.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Pearson Candy Company. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Vaddio (www.vaddio.com) is a Minneapolis, Minnesota-based developer, manufacturer and value-added distributor of pan-tilt-zoom robotic video camera systems and related products used in education lecture capture and distance learning, videoconferencing, government access, broadcasting and other professional audiovisual (“Pro-AV”) applications. The company markets and sells its products globally to over 1,400 Pro-AV dealer integrators.

The Industry

The global Pro-AV industry is a large and growing $68+ billion industry. The Pro-AV industry has been influenced by a number of favorable dynamics, including the convergence of audiovisual technologies with IT and security, and the proliferation of videoconferencing technology across multiple end markets. Vaddio is the only North American manufacturer of pan-tilt-zoom cameras and camera control systems sold into the Pro-AV market and has won numerous awards for its innovative products.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Vaddio and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Thompson Street Capital Partners, a St. Louis, Missouri-based private equity firm. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Solidscape, Inc. (www.solid-scape.com) is a Merrimack, New Hampshire-based developer and manufacturer of high-precision 3D printers for lost-wax casting applications. Solidscape systems are used for modeling prototypes and casting patterns for fine jewelry, dental restorations, turbine blades, medical instruments, orthopedics, consumer goods, electronics and many other high-precision products. The company is widely recognized as the leader for investment casting applications that require superior accuracy, fine feature detail and a smooth surface finish. Solidscape had revenues of $13.4 million and generated EBITDA of approximately $4.3 million for the calendar year 2010. Stratasys acquired Solidscape for $38.0 million.

The Industry

Solidscape participates in the 3D printer segment of the rapidly growing $500+ million global additive manufacturing industry, which is still in its infancy. The company has established itself as an innovator and leader within its niche, with a dominant competitive position in the jewelry design and manufacturing sectors. Global competitors in the 3D printer market include envisionTEC (Germany), Digital Wax (Italy), 3D Systems (USA), and Objet Geometries (Israel).

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Solidscape, Inc. and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Stratasys, Inc., the global market leader in the 3D printer market. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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Cerilliant Corporation (www.cerilliant.com) is an Austin, Texas-based specialty chemicals company that develops and manufactures high quality analytical reference standards and reagents used in medical, forensic, toxicology, environmental, pharmaceutical and other test laboratories. Cerilliant has developed a worldwide reputation as a leading provider of analytical reference standards and is well known for its visionary approach to serving a broad range of test laboratories with a continually expanding line of innovative new products.

The Industry

Cerilliant participates in the $600+ million global analytical reference standards market. Cerilliant has established itself as an innovator and leader within its niche, with commanding market shares in the forensic/toxicology and medical/clinical laboratory markets. Sigma-Aldrich, the world’s largest manufacturer of analytical reference standards, generates over $2 billion in net sales annually across all of its business units. The acquisition of Cerilliant strengthens Sigma-Aldrich’s analytical chemistry product portfolio.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Cerilliant (Austin, Texas) and Argenta Partners (f/k/a Lynch Investment Company) (Dallas, Texas). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Sigma-Aldrich (NASDAQ: SIAL), a St. Louis, Missouri-based life sciences and high-technology company. The M&A process took just over three months from initial contact to closing. The sale of Cerilliant was Prestwick Partners third successful divestiture of an Argenta Partners’ portfolio company.

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Chase Doors Holdings, Inc. (www.chasedoors.com) is a Cincinnati, Ohio-based designer and manufacturer of branded, specialty doors and door systems for commercial and industrial applications. The company’s product offering includes a complete line of high-quality, made-to-order doors, including traffic doors, cold storage doors, sliding doors, corrosion-resistant doors, strip doors and roll-up doors marketed under well known proprietary brands, including Chase™, Durulite®, Saino™, Proline™, AirGard®, Econo Max™, ColdGuard™, DuraShield™ and FibRDor™. The company’s doors are used by industry-leading customers in diverse markets, including supermarket, retail, restaurant, industrial, pharmaceutical, food processing, cold storage and government.

The Industry

Chase Doors has established itself as the leader and most recognized manufacturer of high-quality, made-to-order specialty door systems. The specialty door industry is fragmented and ripe for consolidation – consisting of many small, owner-operated manufacturers serving numerous and diverse end markets. Management has identified approximately 50 targets with nearly $1 billion of combined sales for possible acquisition in management’s add-on acquisition strategy and future growth with new ownership.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Chase Doors (Cincinnati, Ohio) and Gladstone (McLean, Virginia). Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Sentinel Capital Partners, a New York-based private equity group. Prestwick’s process consisted of a limited approach to a few private equity groups that would back management to consolidate the fragmented industry. The process took just over four months to complete.

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Conisus, LLC (www.conisus.com) is an Atlanta, Georgia-based provider of specialized medical communication services to the oncology pharmaceutical and biotechnology (“biopharmaceutical”) industry. Conisus develops innovative, scientific-oriented promotional marketing and medical education solutions for a diverse group of oncology-focused biopharmaceutical companies. Conisus’ services are designed to influence the prescribing behaviors of physicians, generate brand awareness, as well as inform and educate physicians and other drug-use decision makers about new drug therapies.

The Industry

The $55 billion global oncology market represents the largest and fastest growing therapy market within the biopharmaceutical industry. By 2013P, the global oncology market is projected to reach $85 billion in sales, growing more than double the forecasted growth rate of the broader biopharmaceutical industry. The biopharmaceutical industry outsources more than $35 billion annually to third-party service providers, such as Conisus, and spends over $20 billion annually in the U.S. to promote and market its drug therapies.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Conisus (Atlanta, Georgia) and Progress Equity Partners (Dallas, Texas, and Denver, Colorado). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Webster Capital, a Waltham, Massachusetts- based private equity firm. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

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North Star Imaging, Inc. (www.4nsi.com) is a Rogers, Minnesota-based developer and manufacturer of nondestructive testing systems and software for industrial and research applications. NSI develops technologies that allow its customers to advance innovation through the use of state-of-the-art computed tomography (“CT”) and digital radiography (“DR”) imaging systems. The company’s products, primarily marketed under the X-View™, ImagiX™ and eXpress-CT™ brands, utilize advanced methodologies to nondestructively produce images of objects with exceptional resolution and contrast. NSI’s systems are widely used by industry leading customers in diverse markets, including life sciences, military/defense, aerospace, security, research/education, industrial and electronics, among others.

The Industry

NSI participates in the $350 million X-ray inspection systems segment of the $1+ billion global nondestructive testing equipment industry. The company has established itself as an innovator and leader within its niche, with commanding market shares in the CT and DR product categories. The company’s primary competitors are GE Inspection Technologies (a division of General Electric Co.) and Yxlon International (a division of COMET AG).

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to North Star Imaging, Inc. and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Illinois Tool Works Inc., a global multi-billion dollar diversified manufacturer. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.

a division of

(OMX Stockholm: ORTI)
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Ortivus North America (www.ortivusna.com), a division of Stockholm, Sweden-based Ortivus AB, is a developer and marketer of software solutions for the Emergency Medical Service (“EMS”) market that address a wide range of pre-hospital care needs. The entities that form Ortivus North America are located in Decorah, Iowa and Montreal, Quebec. The company’s solutions are used by police, fire and EMS agencies to dispatch, track and process emergency responses. Ortivus North America’s integrated product suite includes industry leading billing, computer-aided dispatch, electronic patient-care reporting (“ePCR”), automatic vehicle location and mobile applications. The company’s products are marketed to emergency responder agencies throughout North America under the Sweet and Fusion brands.

The Industry

Ortivus North America participates in a niche segment of the $20+ billion public safety market. The company has established itself as a leader within the EMS market, with commanding market shares in the billing and ePCR product categories. The company’s primary competitors are ZOLL Data Systems (a division of ZOLL Medical Corp.) and Intermedix (a portfolio company of Parthenon Capital Partners).

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Ortivus AB and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with TriTech Software Systems and WestView Capital Partners. Our process included both domestic and international strategic acquirers as well as private equity groups.

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Bellcomb Technologies Incorporated (“Bellcomb”) (www.bellcomb.com) is a market leader in the design and manufacture of lightweight composite panel solutions utilizing a wide range of skin materials and cores. Today, Bellcomb is one of the world’s largest providers of lightweight composite panels and serves clients in more than 40 industries throughout the world.

 

Stonwurks, a division of M&G Designs Inc., is a manufacturer of lightweight stone panels used in a variety of applications. The company’s panels are constructed using thin sheets of stone bonded to honeycomb for a number of end markets, including marine, transportation and construction. The acquisition of Stonwurks will enable Bellcomb to offer customers a lightweight stone panel alternative to traditional stone products.

The Industry

Bellcomb is a market leader in the non-aerospace lightweight composite panel industry. The lightweight composite panel industry is highly fragmented and ripe for consolidation – consisting of several large manufacturers and hundreds of small, owner-operated manufacturers serving numerous and diverse end markets. In recent years, the industry has experienced tremendous growth, as businesses seek more cost-effective panel solutions that offer superior performance, greater durability and increased functionality relative to traditional panel products.

The Process

Prestwick Partners initiated this transaction and advised Bellcomb (Minneapolis, Minnesota) on its acquisition of Stonwurks (Sylvan Grove, Kansas). Prestwick consulted with Bellcomb’s senior management to develop an acquisition strategy for the company. Prestwick identified, approached and initiated discussions with numerous acquisition candidates on behalf of Bellcomb. As a result of our process, senior management reviewed 14 potential acquisition candidates, including Stonwurks.

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Omni-Tract Surgical (www.omni-tract.com) is a St. Paul, Minnesota-based designer and manufacturer of highly engineered table-mounted surgical retractor systems. Since 1971, the company has pioneered the research, design and development of retractor systems that help surgeons around the world solve the most complex surgical exposure challenges. The company’s retractor systems are utilized in a variety of surgical procedures, including general, vascular, bariatric/transplant, orthopedic and gynecologic, among others. Omni-Tract Surgical’s comprehensive line of table-mounted retractor systems are marketed internationally under the Omni-Flex™, FastSystem®, and Speed-Tract™ brands.

The Industry

Omni-Tract Surgical participates in a niche segment of the $40+ billion global surgical device and instrument market. The company has established itself as a global leader within its niche, with leading market shares both domestically and abroad. The company’s primary competitor is Codman & Shurtleff, Inc. (a Johnson & Johnson company), which markets the Bookwalter® line of surgical retractor systems.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Omni-Tract Surgical and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Integra LifeSciences Holdings Corp. Our process included both domestic and international strategic acquirers as well as private equity groups.

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Auto & Truck Glass LLC (“ATG”) (www.atgglass.com) is the largest national provider of windshield replacement and installation services to the U.S. rental car industry. ATG serves most of the largest domestic rental car companies, including Advantage, Alamo, Avis, Budget, Dollar, Enterprise, FOX, National, Payless and Thrifty Car Rental. ATG also serves the remarketing industry’s regional auto auctions and consignors, including automotive manufacturers, large fleet operators, dealers and finance and leasing organizations.

The Industry

ATG participates in the $4+ billion U.S. windshield replacement and installation industry. Approximately 11 million windshields are replaced annually in the U.S. with approximately 335,000, or three percent, of those replaced by rental car companies. The windshield replacement industry is highly fragmented, comprised of more than 20,000 companies, most of which are small, owner-operated businesses. The windshield replacement industry has recently begun to consolidate with notable transactions such as Belron’s acquisition of Safelite and Diamond Glass.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to ATG (Mission Viejo, California) and Tuckerman Capital (Hanover, New Hampshire). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Guardian Industries Corp., a multi-billion, diversified global manufacturing company with leading market shares in float glass, fabricated glass products, fiberglass insulation and other building materials.

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Diversified Graphics Inc. (“DGI”) (www.diversifiedgraphics.com) is a Minneapolis, Minnesota-based full-service commercial printer that provides premium sheet-fed and variable digital printing solutions and direct-mail marketing services. DGI provides complete print solutions to over 400 customers, including national advertising and graphic design agencies and Fortune 1000 companies. Prior to filing for protection under Chapter 11 of the U.S. Bankruptcy Code, DGI was owned by a group of private equity investors.

The Industry

The $100+ billion U.S. commercial printing industry is highly fragmented, consisting of over 30,000 companies, the majority of which are small or medium sized businesses that operate one production plant and generate less than $50 million in sales. Since 2002, the U.S. commercial printing industry has experienced strong M&A activity – averaging 50 transactions annually. The industry also has experienced an increase in bankruptcy filings due to customer print-spend rationalization, over-leveraged balance sheets and a slowing U.S. economy.

The Process

Prestwick Partners acted as the exclusive financial advisor to Diversified Graphics Inc. Prestwick worked closely with DGI to maximize value for the stakeholders through a sale process that was ultimately conducted pursuant to Section 363 of the U.S. Bankruptcy Code. By identifying a wide array of potential strategic and financial partners, Prestwick was able to lead a process that streamlined DGI’s reorganization efforts as a “debtor-in-possession” under the jurisdiction of the U.S. Bankruptcy Court.

(NYSE: MOS)
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The Mosaic Company (www.mosaicco.com – NYSE: MOS) is a $5.3 billion annual revenue business that was formed in 2004 via the combination of two respected and successful industry leaders, IMC Global and Cargill Crop Nutrition. The Company’s world-class mining and processing operations produce the highest quality fertilizer and animal feed ingredients. Mosaic offers all three crop nutrients (phosphate, potash and nitrogen), customized services that increase both crop and economic yields, plus a rich legacy of experience and innovation. The Company moves these products down the value chain to wholesalers and retail dealers through its global distribution system which serves customers in 33 countries.

Mosaic’s European Operations consisted of a French operation, Mosaic Russia and Mosaic Ukraine. The French business participates as a reseller of fertilizer products in the mature French fertilizer market. Mosaic Ukraine blends fertilizer products purchased from European producers and distributes them to independent dealers in the rapidly growing Ukrainian market. Mosaic Russia is an early stage venture that provides numerous agronomy support services and distributes fertilizer into the vast Russian crop nutrients market.

The Industry

Long term nutrient demand is very strong. As urbanization and desertification reduce the availability of arable land as well as the rural workforce, agriculture will need to adopt new forms of mechanization and shift to land use intensification to feed the world’s growing population. These trends point to an increase in use efficiencies of all natural resources, particularly water, and to the need for greater use of mineral fertilizer.

The Process

Prestwick Partners advised Mosaic on the divestiture of its French, Russian and Ukrainian operations. Prestwick Partners valued each of the three businesses, prepared a Confidential Offering Memorandum describing the European Operations and consulted with senior management on a strategy to divest Mosaic’s European Operations to enable the Company to better focus on its core North American fertilizer production facilities.

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UV Color, Inc. (www.uvcolor.com) is a leading manufacturer of high-quality gift cards, telecom cards and trading, collectable and game cards, as well as a provider of complete secure card packaging solutions for branded prepaid cards issued by Visa, MasterCard, and American Express, among others. UV Color is one of the largest card manufacturers in North America, producing hundreds of millions of cards annually. As an innovative, solutions-driven company, UV Color offers its growing base of domestic and international customers the broadest complement of printing, imaging, finishing and packaging services in the industry.

The Industry

UV Color participates in the rapidly growing, $9.1 billion card manufacturing industry. Between 2000 and 2005, global plastic card production increased at a compound annual rate of over ten percent to reach approximately 15 billion cards in 2005. The use of prepaid cards (i.e., gift cards, telecom cards, branded prepaid cards, etc.) has exploded since they were first introduced in the early 1990s. Published reports of market spending on prepaid cards approached $500 billion in 2005, with value stored on prepaid cards estimated to be a multi-trillion dollar global opportunity by 2008.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to UV Color and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Plastag Holdings, LLC, a portfolio company of Valor Equity Partners, L.P., a Chicago-based private equity group. The UV Color transaction is Valor’s fourth acquisition in the card manufacturing industry. Our process included both domestic and international strategic acquirers and private equity buyers.

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Westcon Industries (www.westconindustries.com) is a comprehensive construction company that provides a variety of services, including pipefitting and welding, structural steel fabrication and erection, concrete installation and equipment setting, to large industrial processing facilities. The company provides large-scale construction services across the United States and internationally to a Fortune 500 client base principally engaged in petro-chemical processing, power generation, production of biofuels, railroad transportation and food processing.

The Industry

Westcon participates primarily within the manufacturing construction segment of the U.S. non-residential construction industry. The manufacturing construction segment consists of companies engaged in the production of petroleum and coal; chemicals and pharmaceuticals; food, beverages and tobacco; and computers, electronics and electrical components. In 2007, the value of manufacturing construction rose to $42.6 billion, a 20 percent increase over 2006. The value of manufacturing construction is projected to reach $50.3 billion in 2008, an increase of 18 percent over 2007 levels.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Westcon Industries (Bismarck, North Dakota). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with private equity groups Lynch Investment Company (Dallas, Texas) and Progress Equity Partners (Dallas, Texas, and Denver, Colorado).

has been acquired by

a wholly owned subsidiary of

(NYSE: HD)

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The Business

Ohio Water and Waste Supply Co., Inc. (“OWWS”) is the largest independent wholesaler of water and wastewater (sewer) products to municipalities, contractors, and public and private water systems in Ohio. OWWS distributes a full line of pipe, fittings, valves, water meters, fire hydrants, maintenance and repair products, and other components that are used to transport clean water and wastewater between reservoirs, treatment plants and residential/commercial locations. The products distributed by OWWS are integral to building, repairing and maintaining water and wastewater systems and serve as part of the basic municipal infrastructure required to support population and economic growth.

The Industry

OWWS participates in the U.S. waterworks market, a highly fragmented $11 billion segment of the $170 billion MRO industry. The nation’s waterworks systems are characterized by outdated infrastructure, potential water shortages and pollution. These factors, combined with steady population growth, more stringent environmental regulations and recent legislative activity, are expected to support strong industry growth for the foreseeable future. HD Supply and Ferguson Enterprises, Inc., a subsidiary of Wolseley plc, collectively account for more than 30% of U.S. waterworks industry sales.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to OWWS and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with HD Supply. The sale of OWWS is Prestwick’s second transaction in the waterworks industry. In October 2006, Prestwick represented Fargo, North Dakota-based Northern Water Works Supply, Inc. in a sale to Ferguson Enterprises, Inc.

has been acquired by

(NASDAQ: GRMN)

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The Business

Digital Cyclone, Inc. (www.digitalcyclone.com) is a Minneapolis, Minnesota-based developer and marketer of location-based services (“LBS”) for wireless devices. Digital Cyclone is a pioneer in the emerging LBS market, offering innovative wireless weather applications for consumers, businesses, outdoor enthusiasts and pilots. Digital Cyclone’s offering of real-time, location-specific weather applications includes the company’s flagship My-Cast® 5 weather application for consumers and businesses, Pilot My-Cast® aviation weather information system, and ESPN Fishin’ Forecast, which tailors weather content for anglers and outdoor enthusiasts. Digital Cyclone’s products are sold to customers in partnership with the leading national and regional wireless carriers, including Cingular Wireless, Verizon Wireless, Sprint PCS and Nextel, among others. The company was co-founded in 1998 by Paul Douglas (Chief Meteorologist at CBS affiliate WCCO-TV in Minneapolis) and Craig Burfeind, veteran software developer and meteorologist.

The Industry

Digital Cyclone participates in the rapidly growing $1.0 billion international mobile LBS market, which encompasses a broad range of services for consumers and businesses, including navigation, resource tracking, proximity matching and public safety. By 2010, global sales of mobile LBS services are expected to reach $8.5 billion, representing average annual growth in excess of 70%.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Digital Cyclone and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Garmin Ltd. Digital Cyclone was acquired by Garmin Ltd. for $45 million in cash at closing.

has been acquired by

(NYSE: ITW)

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The Business

Franklynn Industries, Inc. (“Franklynn”) (www.franklynnusa.com) is a Cincinnati, Ohio-based manufacturer and marketer of water-based specialty functional coatings. Franklynn is a pioneer in the development and introduction of environmentally friendly mold-release coatings used in the manufacture of rubber, ethylene vinyl acetate, composites, polyurethane and thermoplastic products. Franklynn’s coatings are used in various molding processes (e.g., compression, injection, transfer, etc.) to provide a critical barrier between the tooling surface and the molded part. Franklynn’s broad line of mold-release coatings are marketed internationally under the Diamondkote® and Aqualift® brands to OEMs participating in the automotive, sporting goods, pharmaceutical, aerospace and building products industries.

The Industry

Franklynn participates in the global mold-release coatings market, a $500 million niche within the $430 billion specialty chemicals industry. Franklynn’s primary competitors are Chem-Trend L.P., Henkel KGaA, and E.I. du Pont de Nemours and Company. Franklynn will serve as a platform for ITW Performance Polymers to grow its share of the mold-release market both organically and by acquisition.

 The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Franklynn and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Illinois Tool Works Inc. Our process included both domestic and international strategic acquirers as well as private equity groups.

has been acquired by

(NYSE:RYI)

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The Business

Lancaster Steel Service Company, Inc. (“Lancaster”) (www.lancastersteel.com) is the largest independent steel service center in New York and is consistently ranked as one of North America’s Top 100 Metals Service Centers. Lancaster has branch locations in Buffalo and Syracuse, New York, and has provided steel products and metal processing services to western and upstate New York and northern Pennsylvania since 1963. Lancaster distributes a full line of steel products, including flat-rolled sheets and coils, plates, merchant bars, structural shapes, pipe and tubing, and reinforcing steel. Lancaster complements its extensive product line with comprehensive metal processing capabilities and services, such as precision blanking, leveling, slitting, shearing, flame and plasma cutting, saw cutting and rebar fabrication. Lancaster’s customers include OEMs, contract manufacturers, construction contractors and other metals service centers.

The Industry

Lancaster participates in the North American metals service center industry, a highly fragmented industry with more than 1,300 companies (consisting of general-line service centers, specialized service centers and processing centers) operating in excess of 3,500 locations. In 2005, buyers purchased a record $47 billion from North America’s Top 100 Metals Service Centers. Ryerson, Inc. is North America’s leading distributor and processor of metals, with 2005 revenues of $5.8 billion.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Lancaster and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Ryerson, Inc. of Chicago, Illinois. Our process included both domestic and international strategic acquirers.

has been acquired by

a wholly owned subsidiary of

(LSE: WOS)

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The Business

Northern Water Works Supply, Inc. (“NWWS”) (www.davies-northern.com) is the Midwest’s largest independent wholesaler of water and wastewater (sewer) products to municipalities, contractors, and public and private water systems in Minnesota, North Dakota, South Dakota, Iowa, western Wisconsin and northern Illinois. With sales in excess of $100 million, NWWS operates from a network of six branches with 115 employees. NWWS distributes a full line of pipe, fittings, valves, water meters, fire hydrants, maintenance and repair products, and other components that are used to transport clean water and wastewater between reservoirs, treatment plants and residential/commercial locations. The products distributed by NWWS are integral to building, repairing and maintaining water and wastewater systems and serve as part of the basic municipal infrastructure required to support population and economic growth.

The Industry

NWWS participates in the U.S. waterworks market, a highly fragmented $11 billion segment of the $170 billion MRO industry. The nation’s waterworks systems are characterized by outdated infrastructure, potential water shortages and pollution. These factors, combined with steady population growth, more stringent environmental regulations and recent legislative activity, are expected to support strong industry growth for the foreseeable future. Ferguson Enterprises, Inc. and The Home Depot, Inc.’s recently acquired subsidiaries – National Waterworks, Inc. and Hughes Supply, Inc. – collectively account for more than 30% of U.S. waterworks industry sales.

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to NWWS and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Ferguson Enterprises, Inc. Our process included both strategic acquirers and private equity groups interested in acquiring middle-market businesses.

a portfolio company of

has been acquired by

(NYSE): ATU)

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The Business

Precision SURE-LOCK (www.precisionpt.com) manufactures a wide line of high-precision anchorage products that are utilized in residential, commercial and public-works concrete construction as well as underground mining. The company markets a complete line of high quality, proprietary one-time use and reusable post-tension and pre-tension products under the SURE-LOCK® brand name. Post-tensioning is a technology that uses multiple steel cables or wires which are tensioned or tightened during construction, causing constant compression of the supporting beam or slab of concrete. The tensioning of concrete provides many advantages when compared with conventional rebar technology, including (i) stronger, virtual crack-free structures, (ii) longer durability and structural integrity, (iii) greater design and functional flexibility, and (iv) lower-cost structures. Pre- or post-tensioning merely defines when the tension is applied to the concrete (i.e., before or after the pouring of the concrete slab).

The Industry

The post-tension concrete market segment is estimated to be a $450+ million annual market within the $860+ billion annual construction market. Current uses for the company’s post-tensioning products include office buildings, condominiums, hotels, parking structures, slab-on-ground foundations, ground anchors, storage tanks, barriers, nuclear containment structures, stadiums, silos, cable stays, underground mining roof supports, among many others.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Prescision SURE-LOCK (Dallas, Texas) and Lynch Investment Company (Dallas, Texas). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Actuant. The sale of Precision SURE-LOCK was Prestwick Partners’ second successful divestiture of a Lynch Investment Company portfolio company in two years.

has been acquired by

and

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The Business

AbelConn, LLC (www.abelconn.com) is an industry leading provider of backplane assemblies and interconnect products to the aerospace and military markets. AbelConn is a low volume/high mix manufacturer of high-reliability products that have primary uses in avionics, satellites, missiles, ships, tanks and other applications subject to high vibration or corrosive environments. Among the Company’s customers are General Dynamics, Lockheed Martin, Rockwell International, Honeywell, BAE Systems, Boeing, dataCon, L3, Northrup Grumman, Raytheon, Suntron, Smiths Industries and Sperry Marine. The Company is located in New Hope, Minnesota, a suburb of Minneapolis.

The Industry

The aerospace and military market segments have repeatedly shown the greatest growth within the connector and backplane industries. These market segments are expected to enjoy strong growth over the next decade as commercial aircraft purchases remain strong and the United States Department of Defense continues to increase its budgeted spending on upgrading the military’s weapons systems and replacing old weapons platforms.

For these reasons, mergers and acquisitions within the contract manufacturing and connector industries have been driven less by size and more by acquirers attempting to enhance their profile in the aerospace and defense market segments as well as adding vertical manufacturing capabilities.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to AbelConn, its members and management. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Capital For Business of St. Louis, Missouri, Marquette Capital Partners of Minneapolis, Minnesota, Argosy Partners of Philadelphia, Pennsylvania, and Hickory Venture Group of Huntsville, Alabama.

has been acquired by

the owner of

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The Business

Rocky Mountain Forest Products Corp. (RMFP) is a leading manufacturer of high quality, small-pattern wood mouldings. Architects, builders and interior designers use small-pattern wood mouldings to add character to plain rooms. They enhance walls, windows, floors, doorways, and fireplaces, and can be used to break up a room horizontally, cover rough edges, hide flaws, or add a finished appearance to design transitions.

The company markets its products to building material distributors located throughout the United States. RMFP’s customers sell to building contractors, lumberyards and home improvement centers such as The Home Depot and Lowe’s. The company’s customer base covers the do-it-yourself (DIY) market and professional contractors, carpenters and other tradesmen.

The Industry

The millwork industry, and more specifically the moulding market, is experiencing consolidation among the sources of end-user supply. The shrinking market for finished goods is putting pressure on manufacturers to merge and gain market share in order to compete for the business of larger customers (e.g., The Home Depot and Lowe’s). Size and scale of a producer in the millwork industry will largely dictate its bargaining position with customers and suppliers.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to RMFP (Laramie, WY). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Valor Equity Partners. Prestwick Partners previously represented Tewa Moulding (Albuquerque, NM), Lynch Investment Company (Dallas, TX) and Private Equity Partners (Ft. Worth, TX) in the sale of Tewa Moulding to Valor Equity Partners.

a portfolio company of

has been acquired by

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The Business

Tewa Moulding is a leading manufacturer of high quality, small-pattern solid pine wood mouldings. Architects, builders and interior designers use small-pattern wood mouldings to add character to plain rooms. They enhance walls, windows, floors, doorways, and fireplaces, and can be used to break up a room horizontally, cover rough edges, hide flaws, or add a finished appearance to design transitions.

The company markets its products to building material distributors located throughout the United States. Tewa’s customers sell to building contractors, lumberyards and home improvement centers such as The Home Depot and Lowe’s. The company’s customer base covers the do-it-yourself (“DIY”) market and professional contractors, carpenters and other tradesmen.

The Industry

The millwork industry is broadly divided into four subcategories – doors, windows, mouldings and other – and accounts for approximately $17 billion in annual sales. The small-pattern solid pine moulding market is a $100 million niche within the much larger $1.8 billion moulding industry. The millwork industry has seen DIY retailers such as The Home Depot and Lowe’s grow to a position of market dominance among sources of end-user supply. The growth of these large retailers has in turn fueled the growth of their preferred suppliers. Tewa, as well as other strong niche manufacturers of millwork products, will continue to benefit from the rapid growth in large-format retailing.

The Process

Prestwick Partners initiated this transaction and acted as financial advisor to Tewa Moulding (Albuquerque, NM), Lynch Investment Company (Dallas, TX), and Private Equity Partners, Inc. (Ft. Worth, TX). Prestwick Partners designed an M&A process, prepared marketing materials, contacted prospective buyers, evaluated acquisition proposals and negotiated with a number of interested parties, including the ultimate purchaser. At the direction of our client, our process focused almost exclusively on financial buyers interested in acquiring lower middle-market businesses.

a division of

has been acquired by

(NYSE: RAL)

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The Business
Concept 2 Bakers (C2B) produces and markets branded and private-label frozen bakery foods to bakeries, retailers, wholesalers and foodservice operators, as well as leading restaurants and hotels across the United States. C2B’s product offerings consist of the award-winning Panné Provincio® frozen, par-baked organic artisan breads, frozen par-baked custom breads, Earl of Sandwich® frozen baked deli sandwich breads, and frozen baked and unbaked cut-out and standard cookies.

The Industry
Industry sources suggest that the size of the niche market for artisan breads in the United States is approximately $150 million in annual sales and growing 20 percent each year. Competitors in the artisan bread market include La Brea Bakery, a subsidiary of Ireland’s IAWS plc, Ecce Panis, a portfolio company of private equity firm Silver Brands, Inc., and Grace Baking, a subsidiary of Canada’s Maple Leaf Foods Inc.

The Process
Prestwick Partners was formed during the marketing of C2B, at which time Fritz Richards continued to advise McGlynn Bakeries, LLC on the divestiture of C2B and negotiate with the ultimate purchaser. Prior to the formation of Prestwick Partners, Fritz, together with his former colleagues, designed an M&A process, prepared marketing materials, contacted prospective buyers, and evaluated acquisition proposals on behalf of McGlynn Bakeries, LLC.

the majority shareholder of

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Xportation Safety Concepts, Inc. (XSCi) has developed, manufactured and tested a production model of a rear facing infant car seat that offers superior protection during a crash. The PIONEERED® Safety System is the only rear facing restraint to meet proposed NHTSA requirements for infant seat performance in front of an airbag and/or a fixed steel barrier. Meeting such proposed requirements allows for use of the infant car seat in the front seat of a passenger vehicle, even when a passenger airbag is present.

The Situation
XSCi, a technology start-up, is backed by venture funding from The Astra Ventures Incorporated, a family office located in New England. Astra Ventures has a number of investments in real estate, oil and gas, as well as traditional venture and private equity portfolio companies. After fully funding the development of a working and approved prototype, Astra Ventures engaged Prestwick Partners to explore the strategic alternatives for XSCi and to advise the Board of Directors and the majority shareholder of their options.

The Process
Prestwick Partners approached 13 domestic and international juvenile products manufacturers to ascertain their interest in XSCi and to determine the relative strength of XSCi’s technology. Following these discussions, Prestwick Partners advised the Board of Directors and the majority shareholder of their options, including continuing to fund the company and pursue commercialization of the technology, entering into one or more joint ventures, selling the intellectual property of XSCi, or discontinuing the company’s operations.