Mergers & Acquisitions Case Studies

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 with an outcome that exceeded the owners’ expectations and goals.

Boyd Watterson Asset Management, LLC – M&A Business Acquisition and Exclusive Sale
Boyd Watterson Asset Management is one of the oldest and largest independent asset management firms in Cleveland, Ohio. Bruml Capital Corporation recently served as the investment banker and financial advisor to BWAM in management’s recent acquisition from PNC Financial Services Group.

In 2007, BWAM Holdings, LLC was organized by the management of Boyd Watterson Asset Management to reacquire the company from PNC Financial Services Group, Inc. BCC was engaged as the exclusive investment banker and financial advisor to initiate, structure, and arrange acquisition financing in connection with the management buyout of the company. BCC led the negotiation with PNC and arranged acquisition financing that resulted in a very positive outcome for the management team led by Brian Gevry, Clyde Bartter, and Tim Hyland.

In 2003, BCC initiated and served as the financial advisor to Boyd Watterson Asset Management in connection with its sale to Mercantile Capital Advisors, Inc., a subsidiary of Mercantile Bankshares Corporation. In 2000, recognizing a unique management buyout opportunity, BCC served as financial advisor to the management team of Boyd Watterson Asset Management and arranged the financing to facilitate management's acquisition of the company from Duff & Phelps Management Co., a subsidiary of Phoenix Investment Partners, Ltd.

Victory Tube Company – M&A Exclusive Sale
Victory Tube Company is the leading value-added independent distributor of mechanical and structural tubing products in the Ohio Valley. Victory's principal owners decided to consider the sale of the company to allow a new owner with greater financial and operational resources to better capitalize on numerous growth opportunities available to Victory and allow the owners to retire.

Bruml Capital Corporation initiated this sell-side transaction and served as financial advisor to Victory. BCC utilized its extensive knowledge of metals distribution to contact strategic buyers as well as its relationships with financial buyers to provide Victory's ownership group with numerous sale options. Ultimately, Victory's principals elected to sell the company to Marmon/Keystone, a member company of the Marmon Group, due to the strong strategic fit between the two organizations and the ability for the second generation of Victory's founders to continue with the business.

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.

Superior Tool Company – M&A Exclusive Sale
Superior Tool Company is a leading independent manufacturer, distributor and marketer of consumer and professional pipe working and plumbing tools. Ownership decided to consider the sale of the company due to increasing competitive pressures in the mass-merchant distribution channel.

Bruml Capital Corporation initiated this sell-side transaction and served as financial advisor to Superior. BCC encouraged Superior to include both strategic and financial buyers in the sale process to expand the number of options available to ownership. At the completion of a successful marketing process, Superior elected to complete a recapitalization with Prospect Partners, LLC that allowed Superior's shareholders to continue in their current management capacities, achieve a strong value and retain ownership in the business.