Benchmark International’s client X Caliber Container, LLC, a Texas-based steel shipping and cargo containers provider, has successfully sold to LongWater Opportunities in Dallas, Texas.
X Caliber Container provides steel storage containers for a large and well-diversified customer base on a national scale with various products that overlap into several varied markets within the steel container industry. X Caliber Container then provides custom fabrication at both of its Texas-based facilities, including Firework Stands, Workshops, Mobile Chemical Labs, and Emergency Response units.
X Caliber Container co-owner Brent Isom commented, “I have been extremely pleased with each phase of the process, and the people are what has made it a great experience. The Benchmark [International] Team are at the tip of the top of the best companies that ever existed.”
LongWater Opportunities is an operationally-focused private investment firm headquartered in Dallas, Texas, with an office in Fargo, ND, that targets control buyout equity investments in lower middle market US-based manufacturing and specialty distribution companies. LongWater Opportunities believes in mutually aligned interests and investing patient capital in building successful American manufacturing businesses with long-term, sustainable competitive advantages.
Benchmark International proved value in finding a buyer with experience in the industry through its proprietary multi-medium marketing strategies. The market uncovered several interested buyers, but the ultimate buyer provided the right cultural fit for the sellers.
Transaction Director Amy Alonso commented, “We are thrilled to see that our client’s legacy and vision will remain and grow through this transaction. We understood that our client sought an acquirer who would take the company to the next level while also providing a great work environment for their employees. On behalf of Benchmark International, we wish both companies all the best in the future.”READ MORE >>
Benchmark International is pleased to announce the transaction between our client, a prominent industrial services firm, and Crete Mechanical Group (“CMG”).
Crete Mechanical Group (“CMG”) is a multi-site owner, operator, and business partner to mechanical service businesses in the United States. CMG partners with entrepreneurs and owners of HVAC, electrical, plumbing, controls, and other mechanical services companies to help them grow revenue, increase profitability, and transition ownership.
Our client is a leading industrial services firm providing electrical, mechanical, automation, fabrication, rigging, and maintenance services to various industries. The company has established an outstanding reputation in providing superior customer service within its regional market.
Senior Transaction Associate Sunny Yang Garten at Benchmark International added, “It was a pleasure to represent our client, a leading industrial services firm, in this transaction with Crete Mechanical Group. Our client was seeking a partner that shared their vision and offered the right deal structure, and Crete Mechanical Group was aligned with our client’s growth strategy. On behalf of Benchmark International, we wish both companies continued success.”READ MORE >>
Total Nutrition Technology of Leesburg, Florida, is a full-service nutritional supplement source providing services ranging from product development through fulfillment. Founded in 2003, TNT has been included on the INC 5,000 list of fastest-growing companies and is the leader in its markets served, with products shipped throughout the United States and internationally.
Brandless of San Francisco provides a wide range of premium quality lifestyle products in the wellness, beauty, and home categories. With a focus on clean certifications and better living, the Brandless family of products is closely aligned to the superior offerings and reputation gained through the addition of Total Nutrition Technology.
Of the combination, Total Nutrition Technology Founder and CEO Lourdes McAgy commented, “We are exceedingly happy to be joining the Brandless family. Their focus on quality and delivery aligns perfectly with the way that we have built TNT, and we strongly believe that this combination will power both companies to an increased position of leadership in this space.”
The acquisition is backed by Clarke Capital Partners of Provo, Utah. Clarke is a family office focusing on founder-led businesses and multiple investments in the consumer products space.
Benchmark International Transaction Director William Sullivan stated regarding the transaction, “We were able to source a strong number of highly qualified buyers very quickly for Lourdes’s great company, providing her with the options that she deserved. Brandless was the most strategic choice, with perfect synergies to set them up for immediate expansion from day one. We could not be happier about this fantastic partnership.”
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Silver Sport Transmissions, the seller, is the largest and most versatile elite distributor of Tremec Corporation’s transmissions. Their in-house engineering department’s experience is second to none and continually outshines bringing a client’s classic car “up to speed” through various product offerings. The company prides itself on high quality and innovation in its respective field.
The Wharton Automotive Group, consisting of McLeod Racing and FTI Performance, is owned by NHRA Nitro Funny Car driver and businessman Paul Lee.
Paul Lee continues to grow this sector of the driveline market. With the outstanding success of McLeod Racing, Lee sets his sights on growth in acquisitions. In 2019 Lee purchased the leading racing transmission and torque converter company, FTI Performance. In addition, he continues to grow his business strategy with the acquisition of Silver Sport Transmissions.
“The team at Benchmark International, including Matthew Kekelis and Jack Chilcutt, did an excellent job of guiding Silver Sport Transmissions as the Sellers representative. Great representation is so important in today’s M&A market. As the Buyer, I was impressed how smooth and issue-free the transaction went to closing.” says Wharton Automotive Group president Paul Lee. “This transaction was the next step for Wharton Automotive Group’s goal of becoming the leader in the automotive driveline segment of the Worldwide Automotive Aftermarket industry.”
Transaction Director Matthew Kekelis at Benchmark International added, “I genuinely believe that there was no better match for Silver Sport than Paul Lee and his team at The Wharton Group. Their professionalism and attention to detail throughout the acquisition process were outstanding. We wish the best for all moving forward in this exciting new chapter.”
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Benchmark International is pleased to announce the transaction between Millwork 360, LLC (“Millwork 360”) and The Marwin Company, a portfolio company of Validor Capital, a private investment firm.
Millwork 360, based in Tampa, FL, is a manufacturer of building products, including doors and custom moldings for residential and commercial projects. The company is proudly associated with Mastergrain Fiberglass Door Systems and exclusively distributes for the state of Florida.
For 70 years, Marwin has been a leading supplier of specialty access products for the single and multi-family new construction markets. Marwin’s line of attic stairways and specialty door products are offered exclusively through professional building products, and dealers provide exceptional value supported with superior customer service.
Senior Transaction Associate Sunny Yang Garten at Benchmark International added, “It was a pleasure to represent Millwork 360 in this transaction. There was a great strategic fit between Millwork 360 and The Marwin Company. Jamie and her team were extremely responsive during this process. This acquisition represented a tremendous opportunity for both businesses and their teams. On behalf of Benchmark International, we wish both companies continued success.”
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Benchmark International’s client Houston Crating, Inc., a Houston, Texas-based Specialty Export Crating & Packing Company, has successfully sold to MEI Rigging & Crating.
Established by Ray Lubojasky in 1994, Houston Crating, Inc., a provider of crating and export packing services to the energy and logistics industries.
The seller stated regarding the process, “I have been very satisfied with Benchmark’s excellent service throughout this sales process, and I appreciate the hard work and professionalism offered by the Benchmark team.”
MEI Rigging & Crating, a portfolio company of Dorilton, was founded in the early 1990s and has grown to one of the largest providers of rigging, machinery moving, millwrighting, mechanical installation, commercial storage, crating, and export packing services in the US. With thousands of customers served, over 30 years of experience, and ten locations across the country, MEI is driven by its corporate vision of excellence, market leadership, and enduring value. MEI has a growing team of over 450 employees in 10 offices across the United States.
Dorilton is a private investment firm that invests in businesses across a range of industry sectors, working in partnership with management to grow value over the long term. By providing funding and expertise to drive growth, Dorilton helps its companies and their people achieve their full potential.
Dan Cappello, the CEO and President of MEI, made the announcement: “We are delighted to grow the MEI-Houston team and enhance our service offering through this combination. MEI and HCI have performed joint work on customer projects in the past, and we see HCI’s professional approach and focus on safety as a great fit with our organization.”
Transaction Director Amy Alonso commented on the transaction, “We enjoyed working with Houston Crating to achieve a successful outcome on behalf of our client. Our client had several offers to choose from but felt that MEI was the best fit for the company, its employees, and its customers. We continue to see strong demand for acquisitions within the exporting and logistics space and have several bidders on standby. We hope that integration goes smoothly for the companies and look forward to seeing the combined companies have a strong future.”
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IntraCoastal Environmental (ICE) is a leading provider of environmental, industrial, and emergency response services in the Southeastern United States. ICE has two offices in Jacksonville, FL, and Savanah, GA. The principals of ICE attribute their success to a solid framework of proven policies developed over the years and exceptional customer service. “The industry is wrought with operators that will drop everything they are doing on one job for higher margins on another. ICE is safe, provides quality workmanship, and is, most importantly, dependable. When we start a job, we will finish it, and that’s what keeps our customers coming back.”
The Ambipar Group is a publicly-traded multinational entity based in Sao Paulo, Brazil, formed by two companies: Environment and Response. With focus and agility, these two segments offer a vertically integrated structure that provides a wide range of services to fifteen different countries across six continents. Lead by Pulsar, a Brazilian Investment Bank, Ambipar executed its first transaction in the USA in 2019. ICE served as the first of many bolt-on acquisitions in an aggressive strategy to consolidate the market recreate their superior business model in the United States.
US travel bans due to COVID-19 caused both sides of the transaction to build trust in innovative ways to keep the momentum going. The alignment between the acquisition and growth strategy of Ambipar and ICE’s operations is what motivated both buyer and seller to push through the difficulties in today’s
Regarding the deal completion, Senior Associate Sean Fechtmann at Benchmark International commented, “IntraCoastal was by far one of the most exceptional clients we have had the pleasure of representing. From day one, it was clear the management team and financial systems would make this process successful. The principals of ICE were diligent in our shared efforts to pursue a sale while simultaneously driving meaningful growth in their company along the way.”
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Benchmark International is pleased to announce the acquisition of Advantage Plastics of New York and Sherri Plastics (Advantage Plastics), to an affiliate of Orchard Creek Capital.
Advantage Plastics specializes in thermoforming a variety of plastic products across numerous industries. Specialties include vacuum forming, CNC trimming, laser cutting, and laser engraving. The company works with a wide array of materials, including ABS, HDPE, Acrylic, and PVC.
Owner, John Salva with Advantage Plastics commented regarding the deal completion, "The team at Benchmark really stepped up and took care of all of us. It was important to us that we find a buyer that would compensate us for our life's work, as well as value our wonderful team of employees."
Orchard Creek Capital is an investment company based in Northville, Michigan that invests in small manufacturing businesses across the United States. Their investment focus is on successful companies with established track records and solid growth prospects. In 2018, Orchard Creek acquired a plastic injection molding company in Grand Rapids, Michigan. Acquiring Advantage Plastics brings additional assets in the plastics space.
Senior Transaction Associate Sunny Yang Garten at Benchmark International commented, “It was a pleasure to represent Advantage Plastics in this transaction. We’re excited to see that the legacy will be preserved and enhanced through this transaction. On behalf of Benchmark International, we wish both companies continued success.”
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Benchmark International facilitated the transaction between Hillcrest Urgent Care of Alabama (serving the Greater Mobile area) and Carbon Health of San Francisco, CA.The seller, Hillcrest Urgent Care of Alabama, has been providing urgent care services to the Greater Mobile, AL market since 2013. Hillcrest has repeatedly remained on top of the most reputable urgent care facilities in Mobile and ranked 2nd in the state of Alabama. Dr. Gamil “Jimmy” Dawood is a compassionate individual with a true love of providing acute care services to patients looking for convenient, reliable care.
Dr. Jimmy Dawood mentioned regarding the transaction, “I was very pleased to find out that Carbon Health shares the same philosophy of putting patients first and providing excellent care in a friendly environment as I do. The Benchmark team was always available and more than a partner in the whole process! Matthew Kekelis and Neal Wilkerson in particular were very professional, resourceful, supportive and friendly. They went above and beyond to ensure the successful completion of the sale.”
The buyer, Carbon Health is a San Francisco based technology-enabled healthcare provider delivering omnichannel primary and urgent care across the country. The company, launched in 2015, has re-engineered healthcare delivery from the ground up to provide an exceptional experience for both providers and patients, making high-quality care accessible to all.
“We are grateful to work with Benchmark International and Dr. Dawood of Hillcrest Urgent Care of Alabama for a seamless transition,” said Will Abbott, Chief Operating Officer at Carbon Health. “Dr. Dawood and his team have built a thriving practice in the Greater Mobile community. The Carbon Health team is excited to build on this foundation and continue to provide high-quality care while integrating additional innovations to expand services and meet the community where they are.”
Regarding the deal completion, Transaction Director Matthew Kekelis at Benchmark International commented, “Benchmark, through are open bid process, was able to secure many interested parties in a short period of time. Because of this, we were able to successfully negotiate an offer our Client could not pass up. A straightforward diligence process with open lines of communication between all parties expedited the time to deal completion. “Everyone involved in this transaction diligently worked together and agreed early on that this was a great match. Hillcrest Urgent Care is a beacon of healthcare excellence in the community. We were all excited to find the perfect buyer, Carbon Health, to build upon Hillcrest’s commitment of providing exceptional healthcare.”
ABOUT CARBON HEALTH Carbon Health is the technology-enabled healthcare provider designed from the ground up to put patient-care first. By combining technology with modern clinics, it delivers a uniquely seamless experience from virtual care to in-person care to meet patients where they are. Carbon Health removes the boundaries to high-quality, transparent and personal care and envisions making patient-centric, world-class care accessible and a reality for everyone. Carbon Health is headquartered in San Francisco with clinics across California and virtual care in 16 states across the U.S. To access Carbon Health, download the app (iTunes or Google Play) or visit carbonhealth.com.READ MORE >>
Benchmark International is pleased to announce the cross-border acquisition of Ultimate Medical Services, Inc. by UMS Holdings, LLC of the Wolfgang Capital group.
Ultimate Medical Services, Inc. is a provider of diagnostic medical imaging equipment and maintenance services for the South, Central United States market. Medical imaging equipment includes digital radiography, computerized radiography, X-rays, Ultrasound, MRI and CT. The company is a full-line imaging company that provides services for preventative imaging products as well as routine studies and emergency procedures.
Wolfgang Capital LLP purchases, develops, and manages businesses with revenues of £1 to £20 million. UK-based Wolfgang Capital is a solution-focused business committed to generating growth through acquisition.
Kevin Fix, former owner and CEO of Ultimate Medical Services, Inc. said “Benchmark International stood with us through every step of the transaction process and we were impressed by their desire to search the globe to find a buyer. Their efforts ultimately paid off and they facilitated the close of our company with a buyer based in the United Kingdom. The Benchmark team placed a lot of emphasis on being able to help get a deal done in any condition, even despite the global Covid-19 quarantines and the subsequent economic crisis. The team’s persistence proved especially valuable in overcoming numerous obstacles ranging from having multiple potential buyers initially fall through to eventually juggling a complicated cross-border transaction to reach a successful close. Maxim Belov was particularly hands-on and helpful through every step of the sales process.”
Regarding the deal completion, Anthony Hernandez, Benchmark International Transaction Director, stated “the Benchmark Team is delighted to announce not just another successful closing, but to also announce the first transaction we have had the pleasure of facilitating in Louisiana, with several more surely following on its coattails. Senior Analyst Maxim Belov did an excellent job liaising between the parties to facilitate another cross-border transaction for the Benchmark International team.”READ MORE >>
Benchmark International has successfully facilitated the transaction between BTech Manufacturing Inc. and a private investor in the Houston, Texas market.
BTech Manufacturing Inc. is a component manufacturer and distributor of machined products. The company provides necessary components to the oil and gas industry, brazing stations, and other machined parts to air conditioning manufacturers and repair services. The company serves a wide array of industries such as HVAC, heavy industrial and manufacturing, and oil and gas.
BTech Manufacturing Inc. was purchased by a private investor looking to own and operate the business with the hopes of taking Mr. Bui’s foundations to the next level.
Mr. Bui, President of BTech Manufacturing Inc. said regarding the recent transaction, “Benchmark International sourced a buyer that was motivated to get something done and pointed every party involved in the right direction. The team at Benchmark International understood my business and knew exactly what market segments to target. If I would do this again, I would without a doubt choose Benchmark as my partner in the sale process.”
Benchmark International’s Transaction Director, Luis Vinals stated, “BTech Manufacturing is a great company, and Mr. Bui’s story is one of resilience and is a testament to his entrepreneurial tenacity. We are excited to have been able to facilitate a deal that will give Mr. Bui the flexibility to pursue his interests while maintaining his legacy. The fact that we were able to quite literally close the chapter of one entrepreneur’s story and facilitate the opening chapter for another entrepreneur is proof that Benchmark International can work on all levels of the lower and lower-middle markets. We wish Mr. Bui and the new ownership of BTech Manufacturing Inc. much success in the future.”READ MORE >>
Benchmark International’s client Gasket & Packing Inc. a Borger, Texas-based industrial supply and distribution company has successfully sold to a subsidiary of German-owned conglomerate Elring Klinger.
Gasket & Packing Inc. is an industrial supplier of fluid sealing & bolted joint assembly products. The Borger, Texas-based company with four locations supplies fluid sealing products for industrial customers. Products include manufactured gaskets, pump and valve packings, mechanical seals, hydraulics, o-rings, lubrication equipment, metal and concrete repair equipment, industrial bolting, and corrosion prevention supplies. The company also sells, rents, calibrates, and repairs torque equipment for bolted joint assemblies.
As an independent and globally positioned supplier, Elring Klinger is a powerful and reliable partner to the automotive industry. Be it a car or commercial vehicle, an optimized combustion engine, hybrid technology, or electric motor – they offer innovative solutions for all types of drive system in-passenger cars and commercial vehicles. They also make a commitment to making a contribution to sustainable mobility.
Transaction Director Luis Vinals stated, “This transaction demonstrates Benchmark International’s global capabilities, and the quality of its creative marketing strategies to identify buyers for our clients’ businesses. We are excited to see our client's legacy in the capable hands of such a reputable firm and look forward to their continued success.”READ MORE >>
Benchmark International is proud to announce the acquisition of Cello-Wrap Printing, Inc. by Cello-Wrap Packaging, Inc. The Benchmark International team worked diligently on behalf of Cello-Wrap Printing and was a resource for the transaction through the closing date. Both the seller and buyer have already indicated that the integration has been smooth, and we anticipate maintaining the relationship with Cello-Wrap Packaging, Inc. as we continue to work on relevant mandates.
Cello-Wrap Printing, Inc. is a three-generation family business located in Farmersville, Texas. The company is a full-service flexographic printing company that offers printing, lamination, and slitting services utilizing polypropylene, cellophane, and foil as substrates. The company primarily serves the food packaging industry and has been in operation for over 60 years.
Cello-Wrap Packaging, Inc. is Southwest Michigan's premier provider of flexible packaging serving customers with diverse product lines and evolving needs. CPI was founded half a century ago as a plastic bag manufacturer for parts to the Detroit automotive industry. They are now a leading BRC certified manufacturer of plastic bags and flexible packaging serving a variety of industries, with an emphasis on the food-retail sector.
The Benchmark International team used its vast array of resources and experience to help facilitate a transaction structure that allowed for both the buyer and seller to come to terms. This included a carve-out of real estate and ensuring that the seller and their family was taken into consideration as part of a respectful and considerate transition of the business.
Deal Associate, JP Santos commented, “The Benchmark team is excited for what the future holds for Mr. Whitaker, our client, and the new ownership of Cello-Wrap. Both parties were aligned in their desire to ensure the continued success of the business, and we are pleased that an equitable transaction was agreed upon and executed successfully.”READ MORE >>
Benchmark International Successfully Facilitated the Transaction between Seltech, Inc. and Hatfield and Company.
Seltech specializes in engineering and industrial equipment sales. They specifically focus on instrumentation and process control, environmental monitoring, and filtration systems. Seltech began in Tulsa, Oklahoma as a manufacturer’s representative firm and became a region wide wholesale provider of engineering and industrial equipment.
Benchmark International proved its value by finding a buyer with experience in the industry through its proprietary multi-medium marketing strategies. In addition, Benchmark International incorporated several campaigns with local, regional, and national associations.
Deal Associate, Amy Alonso commented, “Benchmark International added value by negotiating this deal. We saw throughout the entire process that the buyer, Hatfield and Company, was a perfect fit who stood to benefit greatly from the experience, industry knowledge, and high quality service that they would gain from the existing owner. With this knowledge, the team was able to negotiate a deal that would allow for the existing owner to successfully transition the business to a capable buyer. We wish Seltech, Inc. and Hatfield and Company the best of luck in their future endeavors.”READ MORE >>
Benchmark International successfully facilitated the transaction between Industrial Applications to Rogers & Morgan in Knoxville, Tennessee.
Industrial Applications (“IA”), is a Knoxville-based sole proprietorship with a rich history dating back to 1938 when it was first established by G.W. Sutton, a retired engineer. The current form of IA is a specialized steam distributor focusing on equipment distribution, systems integration, ground support and engineering conservation control. IA offers a wide variety of products including steam traps, pumps, control valves, process valves, meters, coils, skid mounted process systems, as well as consulting and troubleshooting for independent contracts and services.
Benchmark International worked alongside Bob and Joy Sutton, the third-generation owners of IA, to plan and execute a successful acquisition process. The buyer, Rogers & Morgan, was identified as a prominent organization and a strong candidate for a synergistic acquisition.
Rogers & Morgan is a manufacturers representative firm specializing in engineered equipment for air. The company has a proud tradition of servicing the greater Tennessee, Virginia, and Kentucky area since 1956. Rogers & Morgan focuses on best-in-class customer service and solving low-pressure air problems with quality products by applying expertise and experience in the field.
Bob Sutton, owner of IA stated about the transaction, “I would like to send a special thank you to the deal team at Benchmark International. I was skeptical when starting the process but they really found me a unicorn of a buyer that is a perfect fit for my company. We’re excited to start the next chapter and look forward to working with Rogers & Morgan.”
Tyrus O’Neill, Managing Partner at Benchmark International added, “Bob and Joy were wonderful clients and the team couldn’t be happier to see this deal close. The buyer aligns well with the organization and their values. We are happy to see this result for Bob and Joy but will miss having them as clients.”READ MORE >>
Benchmark International has successfully facilitated the transaction of Osborn Equipment Sales, Inc. to Still Holding Company. Osborn Equipment Sales, Inc. has been in business for over 60 years and serves as a manufacturer’s representative of dry process material handling equipment to customers located within Oklahoma, Western Arkansas, and the Texas Panhandle.
Still Holding Company is owned by Roy Still, an individual with an M&A advisory background, who currently owns a diverse portfolio of businesses in the Tulsa, Oklahoma region, including funeral homes in the area.
Vice President, Keith Garoutte of Osborn Equipment Sales, Inc. commented, “We are a 60- year-old company located in Oklahoma. After 40 plus years of owning the company, my business partner and l were thinking about retirement. We were contacted by Benchmark International wanting to know if we were in the market to sell our company. It was perfect timing for both of us. Benchmark International sent a gentleman to meet with us and after several phone calls we had reached an agreement to have Benchmark International solicit our company for sale in March 2019. We supplied Benchmark International with all the information they had requested, and they proceeded to market our company. Benchmark International found several companies interested in purchasing our company and after only a few months we were in negotiations. We were finally able to close and collect our money on January 6, 2020. Benchmark International did an outstanding job in marketing our company. We were very impressed with their sales team and their sales and negotiation knowledge. Their sales experience made selling our company very easy and without headaches. I would definitely recommend Benchmark International if you want a professional and aggressive sales team to sell your business.”
J.P. Santos, Associate at Benchmark International added, “Randy and Keith were a pleasure to work with and the Benchmark International team is excited that we were able to play a role in the successful sale of their business. From the beginning of the sales process, Randy and Keith were looking for a buyer who could continue their legacy of decades of high quality service, as well as, meet their goals from the sale as they look towards their future endeavors. Roy Still was able to accomplish both of those objectives and the company looks to continue its success under his stewardship.”READ MORE >>
Benchmark International facilitated the transaction of Gene Larew Lures, LLC in Tulsa, Oklahoma to PRADCO Outdoor Brands.
Gene Larew Lures, an Oklahoma-based company, was purchased by owner Chris Lindenberg in 2006. The company became a market leader with the Gene Larew brand synonymous with bass baits, the Bobby Garland brand, and the Crappie Pro brand.
Benchmark International proved its value by finding a buyer with experience in the industry through its proprietary multi-medium marketing strategies. In addition, Benchmark International incorporated several campaigns with local, regional, and national associations.
Owner Chris Lindenberg commented, “I retained the services of Benchmark to help market my company to the public and had very positive results with the right fit with the buyer and a satisfied client.”
Deal Associate, Amy Alonso commented, “Benchmark International added value by negotiating this deal. We saw throughout the entire process that the buyer, PRADCO Outdoor Brands, was a perfect fit who stood to benefit greatly from the manufacturing experience, industry knowledge, and fishing expertise that they would gain from the existing owner. With this knowledge, the team was able to negotiate a deal that would allow for the existing owner to successfully transition the business to a capable buyer in a swift and expedited manner. We wish Gene Larew Lures and PRADCO Outdoor Brands the best of luck in their future endeavors.”READ MORE >>
Benchmark International has successfully facilitated the transaction of RoseMill Packaging Resources, LLC to Conner Industries, Inc.
RoseMill Packaging Resources, LLC (“RoseMill”) is a custom packaging company located in Lewisburg, TN. Established in 2006, RoseMill specializes in the manufacturing and assembly of packaging materials for finished goods. They offer corrugate pallets, corrugate assembly, foam assembly, and additional packaging and warehousing resources.
Now former owners Mike Rose, VP of Sales, and Spencer Miller, VP of Operations, will continue in their roles as they help transition and integrate RoseMill into the Conner family.
In reference to the transaction, Mike Rose commented, “From the onset of discussions with Benchmark, we expressed our desire to find a good fit for the acquisition of RoseMill. We wanted to ensure job security for our employees as well as a continued high level of service, quality, and innovation for our customers. The Benchmark Nashville office was able to find the perfect company, Conner Industries, that had the same desires as us for the long-term success of the RoseMill facility. We are happy to be a part of the Conner Industries family and thank Benchmark Nashville for their efforts in helping us close this transaction.”
Conner Industries, Inc (“Conner”), is headquartered in Ft. Worth, TX, and is a leading provider of industrial wood and packaging solutions in the United States. Conner specializes in supplying cut lumber (softwoods, hardwoods, and panel products) needed for pallets, crates, and skid parts, as well as fully assembled custom pallets, crates, and industrial containers.
Conner has 10+ locations across the Midwestern and Southeastern US and serves customers nationwide.
CEO of Conner Industries, David Dixon stated, “As a buyer, I enjoyed working with Robert at Benchmark who helped keep the deal on track despite some of the matters that we were faced with. He worked diligently to help explain the matters to both sides and worked with both the buyer and the seller on viable solutions.”
Director from Benchmark International, Robert West, added, “Working with Mike and Spencer was very rewarding around. Our entire team was very heavily invested in a successful outcome for RoseMill from the time we were engaged. What we found in Conner is not only a great deal economically for our client, but a great cultural fit to ensure the legacy of RoseMill continues on. We’re excited for Mike, Spencer, and Conner Industries, and look forward to hearing of their future successes.”
Benchmark International has successfully facilitated the sale of its client, Machine Cutting Services to Montsi Investments, a 100% black-owned family investment company operating in South Africa and Ghana.
Machine Cutting Services, based in Modderfontein, South Africa, offers on-site machining services, products sales and rentals to, inter alia, the power generation, petro-chemical, mining, paper and sugar milling, and heavy engineering sectors. The company is an agent and distributor of prestigious, global brands of on-site machining tools as well as top quality plumbing tools.
Montsi Investments recognised the value in adding MCS to their stable of investments, which includes companies such as aggregate producers in South Africa and Ghana. Through their acquisition of the company they plan to expand its geographic footprint in Africa and leverage the improved B-BBEE score to secure new business.
“With a prior attempt at selling the business by another advisory having been unsuccessful, I was beginning to think I’d never get to retire, but the Benchmark team really came through for me and delivered on their promise to assist me in finding succession for my business”, stated the seller Mr Derek Holliday, adding “I felt well supported by Johann throughout the sale process. His expert guidance was invaluable.”
“We knew that a completely fresh approach to a wider market would be required” says Johann Haasbroek, the Transaction Director at Benchmark International. “The buyer was identified through the Benchmark process and once we conveyed the unique advantages that they would gain by acquiring the business; such as the growth that could achieved though the company’s superior ability to navigate the South African legislation in which the company operates, the buyer saw the potential for growth and engaged.”
Encouraged by what the deal indicates about the South African M&A industry, Andre Bresler the Managing Director at Benchmark International, concluded “This transaction is testament to the ever-increasing maturity and success of the BEE industrialist and investor market where strong interest was forthcoming from a number of strategically motivated buyers with impressive portfolios and track records of success, capable of adding genuine synergistic value.”READ MORE >>
Benchmark International has successfully facilitated the sale of Adapt Laser Systems, LLC and Teka North America, LLC to Boyne Capital Partners, LLC.
Headquartered in Kansas City, Missouri, Adapt Laser has supported North America since 2003, providing pioneering laser cleaning solutions to many bonding, corrosion, and surface treatment issues facing complex industrial processes. Adapt Laser, in partnership with CleanLASER, is the only supplier of fiber-coupled, compact, mobile or stationary laser cleaning units, with 20 to 1000 watts of laser power for a wide-range of handheld or automated applications. Illustrative uses include composite part tool cleaning, defense and military applications, oxide removal, paint & varnish removal, weld & joining pre-treatment, and mold cleaning. End-markets served include aerospace, automotive, defense, nuclear utilities, semiconductors, and food production
President of Adapt Laser Systems, Georg Heidelmann, stated, “Benchmark International was paramount to the success of our deal. Not only did Tyrus and the team at Benchmark demonstrate their expertise in all areas of M&A but they also took time to really understand my specific business and industry. Through Benchmark’s process a number of potential partners were identified which allowed me to select the group who truly aligned with Adapt’s people, culture, and vision for the future. I would like to thank the Benchmark transaction team for the extraordinary effort in making this deal a reality.”
Boyne Capital is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, niche manufacturing, and business and financial services among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive both company performance and growth. Boyne specializes in providing the capital necessary to fund corporate growth and facilitate owners and shareholders' partial or full exit.
Tyrus O’Neill, Managing Partner at Benchmark International, stated, “It was a pleasure to represent Georg and Adapt in this deal, and on behalf of Benchmark International, we are very pleased with the outcome. Both sides of the transaction were extremely professional throughout the process and it was a pleasure to work alongside Georg and the group at Boyne. The parties have numerous strategic synergies which has led to a great process and overall result. This has been a thoroughly satisfying experience and we wish both parties the best of luck moving forward.”
Benchmark International has successfully facilitated the sale of T.J. Baehr, Inc., D.B.A. Ground Hog Foundation Drilling, to a private investor in Houston, Texas.
Since 1989, Ground Hog Foundation Drilling has been a specialty contractor that delivers foundation drilling and excavation services for commercial and industrial construction projects in the Houston market. The buyer, Guillermo G. is a private investor living in Houston, Texas with years of experience as a project manger for the energy sector. The buyer’s strong relationship with the seller, engineering background, and interest in specialized services and project management were factors that motivated the buyer to purchase his first business, Ground Hog Foundation Drilling.
In reference to the transaction, Tom Baehr, President of Ground Hog Foundation Drilling, explained his experience with Benchmark International, “I was previously engaged with another brokerage firm and later decided to engage Benchmark International for their extensive market reach and successful track record. I found that Benchmark International immediately understood the excavation drilling market and was able to introduce numerous buyers into the mix. Not only did the Benchmark International team bring forth and negotiate an offer that satisfied my expectations but also a buyer that I know will facilitate the continued growth of Ground Hog Foundation Drilling for many years to come. I highly recommend using Benchmark International for your M&A needs.”
Guillermo G., acquiror of Ground Hog Foundation Drilling, described his experience with Benchmark International, “ I enjoyed working with Benchmark International. I felt that they truly cared about the deal and their constant communication allowed us to work through negotiations and ultimately helped me achieve my objective of business ownership”.
William Van Buren, Senior Associate at Benchmark International’s Austin office added, “Benchmark International’s Austin team very much enjoyed working with our client Tom Baehr, President of Ground Hog Foundation Drilling. The team found Tom to be very collaborative throughout the entire sales process and we were thrilled that he found the right buyer that will continue the business’ trajectory for long-term success. The team truly showcased its knowledge in the marketing of asset heavy businesses such as Ground Hog Foundation Drilling to broad marketplace and facilitated the flow of communications across several parties. Having both a client and a buyer such as Tom and Guillermo that are open to collaborating and communicating paved the way for the deal to come to fruition even when faced with uncontrollable challenges such as inclement weather that caused projects to be delayed. Ultimately, the teams on both the seller and buyer side did an incredible job at facilitating a successful business transaction.”
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