National Associates, Inc. - M&A Exclusive Sale
National Associates, Inc. ("NAI"), founded in 1946, is a leading independent consultant to retirement plans and offers actuarial, plan design, annual testing, compliance and administrative services. As a third-party administrator, NAI also provides services to 401(k), defined-benefit, profit sharing, flexible spending, 403(b), ESOP and other plans.
As its exclusive investment banker and financial advisor in connection with this transaction, Bruml Capital Corporation managed the sale process for the shareholders of NAI to achieve their financial objectives and to maintain continuity of the business. Through an extensive process involving strategic buyers, BCC consummated the sale of the business to Farmers National Banc Corporation, a bank holding company of The Farmers National Bank of Canfield and Farmers Trust Company, with an outcome that exceeded the owners' expectations.
American Compounding Specialties, LLC – M&A Exclusive Sale
American Compounding Specialties, LLC (“ACS”) is a leading independent science-based toll compounder of high-performance engineering thermoplastics for OEM marketers of plastics. ACS employs a unique business philosophy within the contract manufacturing industry that is based on total honesty and integrity among all constituents, a partnership relationship with customers, outstanding customer service, the manufacture of specialty/hard to manufacture, non-commodity products, providing the customer with the lowest total cost solution, a commitment to state-of-the-art manufacturing technology, and the investment in third-party quality accreditation.
BCC served as financial advisor for several years to the members of ACS in connection with advisory and valuation matters. Upon the decision of the members to market ACS for sale, the members engaged BCC due to BCC’s strong relationship with the members and deep understanding of ACS’s business, both of which were established during the advisory period. Based on BCC’s knowledge of the business and the personal objectives of the members, BCC was able to undertake a thorough marketing process that included both strategic buyers as well as private equity groups. The members ultimately determined that Ravago Manufacturing Americas, LLC, was the best buyer for ACS due to the strong purchase price, the additional resources that Ravago was able to offer to ACS, and the opportunity for one of the members to be involved with the broader Ravago organization.
Zirconium Products, LLC – M&A Advisor to Lead Investors
Zirconium Products, LLC, a company organized by management and private investors, was organized to acquire Zircoa, Inc. from ANH Refractories Company. Zirconium’s lead investors engaged Bruml Capital Corporation as its exclusive investment banker and financial advisor in connection with this transaction.
BCC undertook the buy-side analysis on behalf of the lead investors in order to assist the investors in identifying the investment themes, identifying risk factors, understanding certain assumed liabilities, and determining the value of Zircoa. Based on the work, analysis and recommendations of BCC, the lead investors consummated the transaction.
The Monarch Group – M&A Exclusive Sale
The Monarch Group, one of the dominant motor-repair and service-companies with three facilities in the Midwestern United States, provides unparalleled repair and maintenance of motors and generators that are utilized in diverse industries and end markets such as metals and minerals production, fossil and non-fossil electric power generation, petroleum refining, and other heavy industrial end markets. The acquisition enables IPS, a national leader in the service and repair of electric motors and mechanical power transmission components, to continue to expand and supplement its motor repair services and field service offerings.
Bruml Capital Corporation served for many years as financial advisor to the shareholders and board of directors of The Monarch Group. With that relationship, BCC had an in-depth understanding of the objectives of the shareholders and The Monarch Group’s industry. Working closely with the shareholders, BCC developed an analysis of possible buyers and it was evident that a strategic premium could be supported based on a carefully executed marketing strategy. Through an extensive process involving both corporate and financial buyers, BCC consummated the sale of the business to IPS, a Riverside Company unit, with an outcome that exceeded the owners’ expectations and goals.
Nylonge Corporation – M&A Exclusive Sale
Nylonge Corporation, a privately held company, is one of the largest manufacturers of cellulose sponge products in North America. With a strong global market position in a consolidating market, the principal owners recognized that a strategic buyer may be better positioned to achieve future growth opportunities.
Bruml Capital Corporation was engaged by Nylonge as its exclusive investment banker and financial advisor in connection with the sale of the business. Through an extensive analysis of the market and competitors, it was evident that a strategic premium could be supported based on consolidation in the industry. Through a carefully negotiated transaction involving many issues, 3M successfully acquired the business and achieved the owner's value expectations
Noteworthy Medical Systems, Inc. – M&A Business Acquisition
Noteworthy Medical Systems, Inc., Cleveland, Ohio, a rapidly growing electronic health record (EHR) solutions provider, acquired MARS Medical Systems, Inc., a provider of practice management software, and ChartConnect, Inc., a provider of turn-key health information exchange (HIE) and Web-based EHR applications. Both acquisitions were completed over a period of 12 months and enabled Noteworthy to become a leading provider of connected healthcare technology solutions for the ambulatory market.
Noteworthy identified MARS and ChartConnect as strategic acquisitions. Its Board of Directors recognized that it needed an experienced financial advisor to assist in negotiating and structuring the transactions. BCC also served as financial advisor to Noteworthy in connection with financing options. BCC’s merger and acquisition experience was a strong resource for Noteworthy as the company successfully completed two acquisitions in quick succession in order to capitalize on the complementary systems that MARS and ChartConnect offered to supplement Noteworthy’s core business.