CVG provided sell-side advisory services with respect to the following transactions:
Morrell Lumber Company
Second generation leading building materials and hardware store located in Greenville, Maine, also known as Morrell’s Ace Hardware, was sold to Pleasant River Partners, LLC (with respect to the real estate) and affiliated company Ware-Butler, Inc. (with regard to the operating business).
Potdevin Machine, Co.
Potdevin Machine, Co., a manufacturer of labeling equipment, primarily for the packaging industry, located in West Caldwell, NJ, was sold to RWT Corporation, of Madison, CT. PMC was a 130 year-old, third generation business. CVG represent Potdevin Machine in the transaction.
Dodge Oil Co., Inc
Dodge Oil, a third-generation heating oil and propane delivery and service business, with four locations in southern Maine, has been sold to Lake Region Energy, LLC. CVG represented the Estate of Jay Banks, the owner of Dodge, in the transaction. While the majority of Dodge’s customer base is residential in nature, the company also has significant commercial and wholesale business.
Woods End Laboratories, Inc.
Woods End, a leader in agricultural soil health analysis and soil quality-related consulting, and a manufacturer of proprietary soil test products, with customers throughout North America and overseas, was acquired by ALD Laboratory Holdings, LLC, a joint venture between A&L Canada Laboratories and Deveron Corp., a Toronto Stock Exchange listed company. Woods End was founded in 1974 by internationally known soil health scientist Will Brinton, PhD.
Lowery’s, Inc., located in Berwick, Maine, and the state’s largest retailer of outdoor patio furniture and related accessories, was sold to Pierce Outdoors, of Scarborough, Maine.
Dearborn Bortec, Inc. of Fryeburg, Maine, a specialist in precision deep-hole, small diameter drilling, as well as precision machining, was acquired by Dearborn Bortec, LLC. Dearborn Bortec was originally founded by deep-hole drilling pioneer Howard Dearborn, who also founded Dearborn Precision Tubular (now Hunting), also based in Fryeburg.
Gradon Supply, Inc., d/b/a Johnstone Supply
HVACR distributer headquartered in Bangor, Maine, with a second location in Westbrook, owned by Mark Grant and Harold Gordon, Gradon was acquired by J.R. Balsan, Inc., of Downington, PA. Johnstone is the largest member-owned HVACR distribution business in the U.S. and this acquisition provided Balsan with its 9th and 10th locations.
DTM Packaging, LLC
A manufacturer, re-manufacturer and integrator of bottling and packaging equipment, DTM is one of the few companies in the packaging industry that can provide everything from one piece of customized equipment to an entire packaging line, using new or re-manufactured machinery. DTM was acquired by The Massman Companies of Villard, MN (owned by Granite Equity Partners).
Located in Scarborough, Maine, Welch designs and fabricates high quality wayfinding signs, donor recognition displays, facility signs and digitally printed graphics for an impressive array of clients. The business was acquired by an individual with plans to further expand Welch’s operations, reach and overall market share.
Wasco Products Inc.
One of the largest manufacturers of commercial and custom skylights in the United States, Wasco has a strong focus on high quality, customization and special projects, with facilities in Wells, Maine and Reno, Nevada. Wasco was acquired by Velux America, LLC, a subsidiary of the Velux Group of Denmark.
Bur-Bak Machine Corp. d/b/a Burbak Plastics
A precision injection molding manufacturer, located in Wilton, NH with long-standing Fortune 500 OEM customers, including the medical, firearms and defense industries. The company was acquired by Spaulding Composites of Rochester, NH, owned by private equity firm Metapoint Partners.
Group Market Share
Company with long-standing, exclusive relationships with almost all of the group life and disability insurers operating in the U.S., GMS obtains proprietary data from each, develops aggregate market data and then provides these companies comparisons of their market share results within specific markets, while protecting the identity of the data contributors. GMS was acquired by an experienced entrepreneur with a goal of further expanding the business.
Roof Systems of Maine
Roof Systems, a Bangor, Maine commercial and industrial roofing contractor with significant large private and government accounts, was acquired by Techta America, a continuation of its national expansion (50+ operating units).
Manufacturer producing specialty products sold under its name to consumers, as well as to wholesale and private label accounts throughout the nation, with a heavy emphasis in Maine and New England. The buyer was an owner-operator.
Mid-Cape Home Centers/Nickerson Lumber
The company is one of the 75 largest lumber companies in the country with eight locations in Massachusetts. The acquirer is a private investor who had searched for a private, sizable acquisition. CVG represented Mid-Cape on an exclusive basis and also handled a follow-on transaction involving the sale of another property associated with the company.
This Maine company held multiple patents and developed a sophisticated, roll cutting system for the paper industry. Mapleroc’s technology was acquired by The Entwistle Company, of Hudson, MA, a large manufacturer and defense contractor.
Oxford Maine-based Keiser Industries, a custom modular home manufacturer focused primarily on the New England market and a division of R.J. Finlay & Co., was acquired by Pennsylvania-based Excel Homes, owned by Innovative Building Systems.
New England Lumber, New England Drywall, New England Door and Capital Flooring Supply
This Boston-based company supplied professional contractors, municipalities and homeowners with a selection of building materials. The firm had four separate operating divisions and was acquired by an ownership group with extensive industry experience that significantly improved operations over several years, then sold the business to a national building materials company.
The Kennel Shops
This chain of six pet specialty superstores was acquired by a private equity firm that re-branded the business as Pet Life and proceeded to significantly expand the business. The business has since been acquired by another pet products chain.
Call CVG at (207) 699-3316 to learn more or visit our Contact page for email and direct line information.