BDO Capital Advises on the Sale of MEC to Harbour Group
Chicago, IL - April 26, 2017 - BDO Capital Advisors, LLC (“BDO Capital”) is pleased to announce the sale of Marshall Excelsior Company (“MEC”) to the Harbour Group family of companies. As the exclusive financial advisor to MEC, BDO Capital assisted with the preparation of a confidential offering memorandum, contacted a select group of strategic and financial buyers, and advised the shareholder on structuring and negotiating the transaction. “BDO Capital worked closely with us throughout the sale process providing valued guidance and support, and they generated significant interest from top tier strategic and financial buyers which gave us numerous attractive options for the sale. There is no doubt that this process was far more successful than it would have been in the absence of the BDO Capital team,” commented Franco Domingo, MEC Vice President.
Family-owned and operated, MEC is headquartered in Marshall, Michigan, and is a leading designer, manufacturer and supplier of mission-critical, highly engineered flow control products used in the transportation, storage and consumption of liquefied petroleum gas (“LPG”) and liquefied anhydrous ammonia (“NH3”). Over the past 40 years, MEC has provided a variety of solutions including fittings, adapters, valves, regulators, pigtails, gauges and accessories to its growing base of customers. MEC’s products support various LPG and NH3 applications including bulk storage, transport, commercial, domestic and recreational vehicles.
Harbour Group is a privately owned, operations focused company based in St. Louis, Missouri. Harbour Group’s companies are engaged in manufacturing and distribution across diverse industries. Since its founding in 1976, Harbour Group has acquired 193 companies in 41 different industries. “We are pleased to welcome Marshall Excelsior to the Harbour Group family,” said Jeff Fox, Harbour Group’s chairman and chief executive officer. “MEC represents key attributes that Harbour Group seeks in all of its companies. MEC is known as the leading innovator in its industry due to its strong engineering and design capabilities and ability to provide customers with unique products to meet their challenges. Harbour Group’s resources will help the Company continue to grow both domestically and internationally.”
Mr. Domingo added: “Marshall Excelsior has been successful in establishing itself as a leading market player by offering its customers differentiated, superior products. Going forward, we believe Harbour Group can help accelerate our growth as we expand into new product categories and geographies. We are excited about the future of our company and our products.”
The MEC sale highlights BDO Capital’s extensive experience in the flow control and industrial component sectors, and our expertise in successfully positioning businesses with leading acquirers. The BDO Capital transaction team was led by Bill Shiry, Managing Director, with support from Associates Lyndsay Ronan and James Wenk.
ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.
The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.