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Submit news online here or via e-mail to ACG Communications Committee Chair, Robyn Frankel, Frankel Marketing/PR at firstname.lastname@example.org.
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Holleway Capital Partners Acquires Family-Owned Texdoor LLC
Holleway Capital Partners, which targets investments in manufacturers and distributors of industrial products with $10 to $100 million in sales in the central and southern regions of the United States, announced the acquisition of family-owned Texdoor LLC, a leading independent distributor of commercial and residential overhead doors based in San Antonio. Texdoor serves clients throughout Texas and surrounding states with overhead doors and controls, including installation and aftermarket service. Holleway Capital Partners, Aldine Capital Partners and KC LaSalle Partners provided subordinated debt and equity to complete the transaction. The Hutzler family and existing management team remain with the company.
Nolan Advised St. Louis Testing Laboratories on Its Sale to Industrial Inspection & Analysis
Based in St. Louis, MO, St. Louis Testing Laboratories (SLTL) is a privately owned, independent commercial testing laboratory performing analyses, testing and inspection in the specialized fields of Nondestructive Testing, Metallurgical Analysis, Mechanical Testing, Environmental and Chemical Analyses. After three generations and 73 years of family ownership, the Sinn family sought an exit partner to facilitate estate planning for ownership. Nolan’s process delivered Industrial Inspection & Analysis (IIA), a high growth industrial inspection, testing and analytical company offering a wide range of testing, inspection, certification and engineering services.
Nolan Advised Ferguson Consulting on Its Sale to Eliassen Group
Founded in 1994, Ferguson Consulting Inc., is an IT consulting firm that provides IT contractors for staff augmentation positions of Fortune 400 companies in St. Louis, MO. After building Ferguson Consulting into a market leader over the past 26 years, President and CEO Susan Ferguson was ready to transition the business to spend more time with family. Nolan’s sale process delivered Eliassen Group, a leading national strategic consulting and talent solutions firm.
ButcherJoseph & Co. (“ButcherJoseph”) is proud to announce that Rick Hennessey, Vice President, was selected as a winner of The M&A Advisor Emerging Leaders Award. Hennessey was chosen for his accomplishments and expertise in the industry from a pool of international nominees by an independent judging panel of distinguished business leaders. Hennessey joined the firm in 2015 as an Analyst. He quickly rose through the ranks to become a Vice President where he has made a significant impact mentoring junior professionals in the firm and building relationships with clients to help them navigate an optimal transaction experience. Most recently, Hennessey was a graduate of the inaugural ACG St. Louis Emerging 20 class of 2019-2020 — an elite group of future business leaders in the St. Louis middle market M&A community.
ButcherJoseph personnel have received this prestigious recognition since 2014, marking 2020 as the firm’s seventh consecutive year of growing and developing the M&A industry’s most talented professionals.
BERKS Group Announces Investment in Natomas Manufacturing LLC
The Berks Group (berksgroup.com), Kansas City, announces an investment in Natoma Manufacturing, Norton, KS, with customers primarily in the aerospace and defense markets. Natoma manufactures build-to-order precision parts for its global customers. The company holds ISO 9901 and AS9100 certifications.
The addition of Natoma expands BERKS’ precision manufacturing platform to three companies focused on the aerospace, defense, medical and industrial sectors. BERKS also owns Swiss-Tech, LLC and IDC LLC, both in Wisconsin. Swiss-Tech manufactures precision parts for medical, aerospace and industrial end markets. IDC manufactures high quality, complex components primarily used in aerospace and defense.
Contact: Jay Longbottom, (816-271-8519) or John Kueneke, (314-504-5072)
BERKS Group Announces Investment in Instrument Development Corporation (IDC)
BERKS Group announces an investment in Instrument Development Corporation (IDC). Founded in 1987, IDC is an ultra-precision machining company based in Mukwonago, Wisconsin. The company delivers high quality, complex components primarily used in defense and aerospace systems. BERKS is planning capital investments to expend IDC’s capabilities and increase production. The addition of IDC expands BERKS precision manufacturing platform with increased capabilities and new market segments. BERKS also owns Swiss-Tech, LLC, which manufactures mission critical precision parts for medical, aerospace and industrial end markets. Swiss-Tech is based in nearby Delavan, Wisconsin. More information is available at www.berksgroup.com.
Holleway Capital Partners Expands Investment Team
Holleway Capital Partners is pleased to announce the addition of Abigail Graham as an Analyst. She supports the team with a variety of responsibilities, including industry research, financial modeling, and due diligence efforts. Prior to joining Holleway Capital, Abby served as Senior Consultant with Ernst and Young’s Risk Advisory Services practice. In this role, Abby managed teams providing Sarbanes-Oxley compliance testing and assurance to national and international clients. Abby graduated from the University of Missouri with a Bachelor of Science in Mathematics and minors in Business Finance and Statistics.
Holly Huels, Managing Partner at Holleway Capital said, “We are delighted to have Abby as part of our team. She brings to the team an enviable combination of technical knowledge with a self-starter, can-do and team-first attitude. We look forward to her contributions to Holleway and our portfolio companies."
ACG St. Louis Announces 2020-2021 Board of Directors
ACG St. Louis welcomes two new members to its board of directors: Kelsey McGonigle of Greensfelder and Nick Chambers of UHY LLP. McGonigle is a senior associate in Greensfelder’s Business Services Group, focusing primarily on mergers and acquisitions in the middle market space. She serves on the ACG St. Louis Emerging Leaders Committee and recently completed the STL Emerging 20 Leadership Program. Chambers is director of the Private Equity Services Group for UHY LLP in St. Louis. He provides accounting, audit and consulting services to private equity groups and their portfolio companies and specializes in complex financial reporting issues, such as business combinations, revenue recognition, leases, debt and equity transactions and income taxes.
ACG St. Louis recognizes the following retiring board members for their outstanding service and leadership: John Huhn of Compass Group Equity Partners, Steve Wendling of UHY LLP and Patrick Sweeney of Greensfelder. Huhn served eight years on the board and spearheaded the creation of the Family Office Peer Group; Wendling served eight years on the board and chaired the annual ACG Golf Tournament, and Sweeney served five years on the board and serves on the Membership Committee.
ACG St. Louis 2020-2021 Board of Directors:
The ACG St Louis chapter serves more than 350 members involved in corporate growth and include private equity investors, intermediaries, corporate development professionals, lenders, M&A advisors and service providers – all working together to get the deal done.
Alliance Systems, LLC a leading provider of cloud-native application development services has become a Red Hat Partner. Red Hat is recognized as the world's enterprise open source leader. Alliance Systems’ cloud-based solutions, now with Red Hat, offer improved scalability, stability, and performance which are key benefits for businesses including enterprise and governmental clients. Red Hat’s enormously deep suite of products such as OpenShift and Ansible aligns well with Alliance’s commitment to bringing the most value and performance to their clients, whether they be enterprise, mid-market or startup. Located in St. Louis, Alliance Systems has clients in finance, e-commerce, education, manufacturing, and government. For additional information visit www.alliance-systems.co or call 314-219-7887.
ButcherJoseph & Co. has promoted Rose Thompson to Chief Operating Officer and Rick Hennessey to Vice President. In her new role, Rose will oversee the performance, alignment and overall strategy for the investment bank, which specializes in M&A advisory services to provide highly customized solutions for middle market companies.
Rick will continue to serve in a leadership role in the firm’s deal execution efforts advising middle market companies on mergers and acquisitions, recapitalizations, corporate carve outs, capital raising, and leveraged ESOP buyout transactions. He earned his Bachelor of Business Administration, magna cum laude, from the Mendoza College of Business at the University of Notre Dame.
In addition to serving on the Board of Directors for ACG St. Louis, Rose is actively involved with the National Center for Employee Ownership (NCEO) and the ESOP Association, where she participates at annual conferences, webinars, and seminars across the U.S. She earned both her Master of Arts and Bachelor of Arts degrees in communication from Saint Louis University.
Nolan & Associates, an investment banking firm specializing in the middle market, announced that it recently advised Doximity on its acquisition of THMED. Doximity is the largest professional medical network for U.S. healthcare professionals, with more than 70% of U.S. doctors and 45% of all nurse practitioners and physician assistants as members. Doximity is venture-backed with Emergence Capital, InterWest, Morganthaler, Morgan Stanley and T.Rowe Price as investors. Doximity sought to enter the physician recruiting and locum tenens markets via acquisition. Nolan’s process delivered THMED, a leading healthcare staffing firm focused on permanent physician and locum tenens placements. THMED was a portfolio company of Waveland NCP Texas Ventures (WNCP), a partnership between New Capital Partners and Waveland Ventures.
Nolan & Associates, an investment banking firm specializing in the middle market, announced that it recently advised Tacony Corporation on the successful sale of its subsidiary company, Nancy’s Notions, to Missouri Quilt Company. Nolan’s competitive sale process delivered Missouri Star Quilt Company as the ideal buyer for Nancy’s Notions, uniting the two most powerful brands in the sewing and quilting space. Interestingly, Due to COVID-19, the buyer and seller never held a face-to-face meeting during the sale process. The deal team utilized video conferencing for conversations, due diligence and inventory inspections. The U.S. craft industry is estimated at $36 billion, with sewing and fabric ranking in the top 5 crafts at 11.3% total spend.
Anders CPAs + Advisors, one of the St. Louis region’s largest accounting firms, is expanding its reach in the banking industry with the acquisition of Cummings, Ristau & Associates, a south St. Louis County-based public accounting firm, effective June 30. With the addition of all 21 of Cummings Ristau’s employees, Anders’ staff will total 230 with revenue of about $41.5 million, officials said Monday. While Anders has served the broker/dealer and financial services industries since it was formed in 1965, acquiring Cummings Ristau allows Anders to add a new niche and expand its financial institution footprint. Cummings Ristau provides audit, tax, regulatory compliance and loan review services to banks and credit unions, among other services.
Bob Alvarez has been elevated to President and COO of Shapiro Metals, a St. Louis-based nationwide provider of scrap metal recycling services and full-scale sustainability programs to manufacturers across the country. He is the first person outside the Shapiro family to hold the title of President at the privately-owned company which is currently celebrating its 50th anniversary. Bob joined the company in 2015 as Vice President of Operations with a diverse background, having held management roles in Operations and HR, in addition to his deep experience in strategic and organizational leadership. He earned his Bachelor of Arts degree from Knox College, Galesburg, Ill.