Essex Industries Acquires Stevens Manufacturing
Stamford, CT, February 16, 2021: TrueNorth Capital Partners LLC (“TrueNorth”) is pleased to announce that its wholly-owned subsidiary, TNCP, LLC (“TrueNorth”) acted as exclusive financial advisor to Essex Industries on the acquisition of Stevens Manufacturing Company Incorporated, an Aerospace and Defense manufacturing company located in Milford, Connecticut.
Founded in 1947, Essex Industries is a leading supplier to the Aerospace and Defense market, providing platform controls, aircraft components, emergency breathing and liquid oxygen equipment. The company employs over 350 people in its St. Louis, MO and Huntington Beach, CA facilities.
Stevens Manufacturing provides precision machined OEM parts and sub-assemblies to Aerospace and Defense companies primarily supporting the rotorcraft market. Originally founded in the 1950s, the company has been a portfolio business of J.H. Whitney Capital Partners, LLC since 2014. Stevens operates from a single 62,000 sq. ft. facility with 54 employees.
The acquisition of Stevens supports Essex’ business strategy of further expanding its Aerospace and Defense product portfolio. With Steven’s location, it will also provide improved service for customers in the North East.
According to Evan Waldman, Essex CEO, “Essex and Stevens Manufacturing share common markets, manufacturing expertise and values. Working together, we will be able to offer a broader range of products and enhanced service for our customers.”
The company will continue to operate as Stevens Manufacturing in Milford, CT.
Fred Rossetti and Nick Chapman, Managing Directors at TrueNorth, co-advised on this transaction, with the assistance of Senior Associate, Ani Vajjah. Mr. Rossetti commented that, “It was our privilege to work with the Essex team on another successful transaction as it continues to expand its capabilities in the A&D sector. We value our long-term association and friendship with the Essex Industries family and appreciate their continued trust in our advice.”
Mr. Waldman added “It was a pleasure realizing another successful transaction with the TrueNorth team. Their tireless effort, strategic insights and ability to navigate a dynamic M&A process makes them my go-to advisor.”
Any further inquiries can be directed to TrueNorth at the contact information provided below:
Fred Rossetti, Managing Director
Direct Dial Phone Number (203) 817-0276
E-mail address: email@example.com
Nick Chapman, Managing Director
Direct Dial Phone Number (843) 534-5988
E-mail address: firstname.lastname@example.org
About TrueNorth Capital Partners LLC:
TrueNorth provides advisory services to companies seeking advice for middle-market M&A and financing transactions. With offices in Stamford CT, Charleston SC, Central, NJ, Naples, FL, Minneapolis, MN, Kansas City, KS and London, UK, TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of financial advisory services. Our focus on the middle-market enables us to provide independent, value-added advisory services to privately held middle-market companies, private equity and family office groups and corporate clients, both domestic and international, across a broad range of industries. TrueNorth conducts its securities related business through its wholly owned subsidiary, TNCP, LLC, member FINRA/SIPC.
About Scout Valuations LLC:
Scout Valuations, a wholly owned subsidiary of TrueNorth, is fully dedicated to business valuation. We provide thorough, independent valuation analyses together with superior client service and responsiveness. Our analyses combine a detailed understanding of the business, industry and economic context, with the insight to address complex valuation issues regarding your business.