2016 Mid Year Review
Location - Southport, CT
We would like to share with you a few updates at Carter Morse & Mathias, and celebrate some of our notable achievements for the first six months of 2016. It has been a strong first half for CMM, as measured by the number of closed transactions, the valuations achieved for our clients, the recognitions we have received and our continued involvement in our communities.
Selected Completed Transactions:
Really Good Stuff, a multi-channel marketer of innovative classroom products and teaching tools, was acquired by Excelligence Learning Corporation, a portfolio company of the private equity firm Brentwood Associates. Carter Morse & Mathias served as Really Good Stuff's exclusive financial advisor for the transaction.
Pegasus Manufacturing, Inc., a second generation family-owned aerospace manufacturing company considered a world leader in fabricated tubes and pipe assemblies, precision manufacturing and gears, was acquired by Leggett & Platt Inc. Carter Morse & Mathias served as Leggett & Platt's exclusive financial advisor for the transaction.
CMM provided a fairness opinion to Hamilton Robinson Capital Partners in connection with its recapitalization of Custom Engineered Wheels, North America's leading designer and manufacturer of "no-flat" engineered wheel solutions, producing more than 20 million wheels annually.
In addition, we continue to advise a number of companies, families and boards as they consider both strategic transactions or capital formation initiatives. Currently, we have a number of active engagements, including:
• Education Technology: Representing a long-standing client providing specialized software for school administrators in its sale to a strategic buyer backed by a recognized private equity firm. (Anticipated closing 3Q16)
• Security Network Hardware: Exclusive sell-side assignment representing a privately held provider of data communication hardware specifically designed for security and surveillance solutions and intelligent transportation systems (ITS) architectures. (Anticipated closing 4Q16)
• Specialty Chemicals: Engaged to review the potential divestiture of an operating division focused on commodity and specialty chemical manufacturing. (Pre-Transaction Strategic Advisory)
• Business Services: Advising the family shareholders of a large residential and commercial services company on strategic options, including the recapitalization of the company. (Strategic Options Review)
In addition, there are a number of other exciting mandates in our pipeline that we anticipate bringing to the market in the near future, in our core manufacturing, consumer, technology and business service industry verticals.
Carter Morse & Mathias continues to be recognized by our peers having been named as a finalist for two "Deal of the Year" awards:
- Consumer/Retail Deal of the Year: Really Good Stuff acquired by Excelligence Learning Corporation, a portfolio company of Brentwood Associates
- Business Services Deal of the Year: NACPS acquired by Parts Town, a portfolio company of Summit Partners
This is the third consecutive year that CMM has received the highest levels of recognition for "Deal of the Year" by the Champions Awards.
CMM's international alliance, AICA, has added two new affiliates, further expanding CMM's reach across the globe:
- CMT Advisory with offices in Poznań and Warsaw, Poland,
- VD&P Corporate Finance with headquarters in Gent, Belgium
CMM is a charter member of AICA, an international network of more than 36 M&A firms in over 20 countries across the Americas, Europe, Asia, Latin America and the Middle East.
Michael Carter: Michael is again chairing a unique fundraising event in November: Push for Entrepreneurship where participants have two hours to do as many push-ups as possible in an effort to raise money for The Connecticut Invention Convention to start CIC's "City Jump Start Program" in Bridgeport and Norwalk schools to give students an opportunity to participate in CIC's programs. (Push for Entrepreneurship)
Ramsey Goodrich: Ramsey has been re-elected as President of the Exit Planning Exchange in Connecticut for a second term (XPX-CT) and was named Chairman for the Association for Corporate Growth's national Intergrowth conference next April in Las Vegas (Intergrowth).
Martin Magida: Marty has been accepted as an Expert Advisor by the CEO Trust, a by-invitation organization and platform for CEOs (CEO Trust) and has joined Vistage International, the world's leading chief executive organizations, as part of their Trusted Advisor Program (Vistage)
Frank Morse: Frank Morse participated as a panelist for an ACG event that discussed Ward Leonard Electric's purchase of Houma Armature Works following a lengthy and complex process involving two prior aborted transactions. (ACG-CT) He also provided a keynote address "Valuing Start-up & Early Stage Companies: Art or Science" for the Inventors Association of Connecticut. (Inventus)