Selected Transactions by Industry
The professionals of TrueNorth have completed Sell-Side M&A, Buy-Side M&A, Capital-Raise, and Restructuring transactions across a broad range of industries:
Alaniz and Sons is a provider of premium printing and direct-mail services to leading charities and other not-for-profit organizations.
American Speedy Printing, doing business as Allegra Print & Imaging, is a franchisor of quick-turnaround printing and copying centers.
Aroma, based in Guatemala, is the leading producer of flavors and fragrances in Central America.
TrueNorth acted as financial advisor to Asahi Kasei Corporation on its acquisition Sage Automotive Interiors, Inc. Sage Automotive, with plants in over 10 countries, is one of the world’s leading providers of automotive interior materials—seating, door panel surfaces, and headliners—to automotive OEM’s.
TrueNorth acted as exclusive Financial Advisor to A-Val Architectural and assisted with the sale of the operating assets of Prestige Equipment Corporation. A-Val was one of the largest architectural metal and glass contractors in the New York area.
TrueNorth was employed by the Unsecured Creditors Committee to provide financial advisory services including but not limited to: assisting the Committee on a range of value for the Debtors’ on a going concern basis, preparing documentation required in connection with creating, supporting or opposing a plan and participating in negotiations with Debtors’, on behalf of the Committee.
TrueNorth acted as financial advisor to Bicron Electronics Company on its Sale to iNRCORE, LLC; a portfolio company of The Jordan Company. The addition of Bicron Electronics will further strengthen iNRCORE’s power product offerings.
TrueNorth acted as exclusive M&A advisor to Calvert Holdings on its sale of Calvert Laboratories to Altasciences, a CRO/CDMO and portfolio company of Novo Holdings. Calvert and Altasciences have strategically complementary markets, capabilities, expertise and values, which will enhance opportunities to provide a comprehensive, fully integrated early phase drug development solution, while addressing the ever-changing outsourcing challenges of biopharmaceutical companies across the globe.
American Packing and Gasket stocks, sells, and delivers – on a fast-turnaround basis – full lines of packing & gasket, hydraulic & oil seal, o-ring, and industrial hose coupling products. The Company also has fabrication capabilities.
TrueNorth acted as financial advisor to Cassavant Machining, Inc and affiliates on its sale of the stock to Gallant Capital. The divestiture represented another transaction for TrueNorth in the aerospace & defense industry.
Rotational Molding, which was carved out to raise capital for its parent company, manufactures custom rotationally molded plastic products for a broad range of industries, including restaurants, chemical, construction and defense contractors.
TrueNorth acted as exclusive Financial Advisor to Clinton Nurseries on the refinancing of its senior loan facility. Clinton Nurseries, headquartered in Westbrook, CT, is a leading East Coast producer of shrubs and trees, established more than 96 years ago.
TrueNorth acted as financial advisor to Colt Gateway, LLC in developing a strategic plan for its 17 acre mixed use historical landmark campus located in Hartford, CT. This campus was once home to Colt’s Manufacturing’s original firearms headquarters and manufacturing facility.
TrueNorth acted as exclusive Financial Advisor to Coltsville Redevelopment Company LLC and arranged a senior debt facility to provide capital for the continued development of the mixed use property. This 17 acre site was once home to Colt’s Manufacturing’s original firearms headquarters and manufacturing facility.
Combined Logistics, based in the Caribbean and facing financial difficulties at the time of the transaction, provides global, integrated logistical services for transporting commercial products by plane, ship, or truck to its final destination.
TrueNorth acted as financial advisor to Dari Farms Ice Cream Co., Inc. on its sale to Diversis Capital LLC. Founded in 1970, Dari Farms is the leading full-service Direct Store Delivery house in New England focused on products across ambient, refrigerated, and frozen food categories.
TrueNorth acted as financial advisor to The Delta Companies (“TDC”) on its acquisition of the assets of Foreman Therapy Services (“FTS”). TrueNorth’s unique ability to source-approach-and-facilitate discussions with target owners opened the door for a number of attractive opportunities. FTS, however, was the “best fit” for TDC to expand and grow its business, and better meet the needs of more providers, facilities and communities.
Elkhart Plastics is a leading competitor in the fragmented $1.5 billion rotational-molding industry. The Company works closely with its customer base, including original equipment manufacturers and other companies serving the recreational vehicle, marine, and highway safety markets, to design, engineer, and manufacture plastic parts and products.
Encon, Inc. offers a comprehensive suite of services for the commercial contracting and high-end residential HVAC markets. Its services include and focus on designing and building new systems, service and replacement of existing systems and providing control and energy solutions.
TrueNorth acted as exclusive Financial Advisor to Essex Industries and assisted with the sale of its non-core assets of its SX Performance Division to Edelbrock, LLC. SX Performance is a manufacturer of high performance automotive fuel pumps.
TrueNorth acted as financial advisor to Essex Industries (“Essex”) on its Acquisition of Stevens Manufacturing Company Incorporated (“Stevens”). Essex and Stevens Manufacturing share common markets, manufacturing expertise and values, which will enhance products and service for their customers.
Fieldworks, which was listed on NASDAQ and facing financial difficulties at the time of the transaction, designs, manufactures, and sells solutions incorporating rugged, portable computer platforms for use in demanding field environments worldwide.
TrueNorth was retained as financial advisor to H. Krevit and Company, and as a result arranged for the sale of its First Niagara Bank senior secured and mortgage note obligations.
TrueNorth acted as exclusive M&A advisor to Granite Comfort, a portfolio company of Tiger Infrastructure Partners, on the acquisition of Green Air Care. The acquisition of Green Air Care expands Granite Comfort’s footprint into their fourth geographic market, Chicago, the third largest market in the United Sates.
TrueNorth acted as exclusive Financial Advisor to H. Krevit and Company in the sale of substantially all of its and its related companies assets to AJM Industries, LLC pursuant to Section 363 of the US Bankruptcy Code. Krevit has been manufacturing Sodium Hypochlorite (Bleach) since 1919.
TrueNorth acted as exclusive financial advisor to Integrity Graphics, Inc. in connection with the sale of certain assets from one of its Northeast operating divisions. Integrity is a high quality, full service, provider of graphics design and marketing communication services.
TrueNorth acted as financial advisor to Itochu Corporation on its capital investment and business alliance with BigRentz, Inc. TrueNorth subsidiary, Scout Valuations provided valuation services. This investment by Itochu is in line with the companies “Brand New Deal 2020” strategy.
TrueNorth acted as financial advisor to JNET on the sale and assignment of certain Assets to MCI Canada, LC, a subsidiary of MCI, LC pursuant to § 105(a), 363 and 365 of the United States Bankruptcy Code.
TrueNorth acted as Financial Advisor to the Official Committee of the Unsecured Creditors in the Kingsbury Corporation Chapter 11 case. The assets were sold in a Section 363 sale. Kingsbury Corporation, now owned by Optimation is a world leader in the design and manufacture of premier special purpose assembly and test systems; custom rotary dial, inline transfer, and SPM machines; flexible machining centers; and web based (roll to roll) machines.
Kroy manufactures and distributes extruded plastic vinyl fencing, railing, and decking products.
Particle Dynamics develops and globally markets specialty ingredient product lines for the pharmaceutical, nutritional, food, and personal-care industries. Its products include value-added pharmaceutical, vitamin, mineral, herbal, and specialty products that provide benefits such as improved taste, enhanced product stability, or more efficient manufacturing.
TrueNorth acted as exclusive Financial Advisor to Lindquist Steels, Inc. and assisted with its sale of its South Carolina and Tennessee tool steel services centers to Cincinnati Tool Steel Co. The sale has helped Lindquist to consolidate and focus on its northeastern US operations.
TrueNorth acted as exclusive financial advisor to LPI, Inc and assisted in raising acquisition bridge financing in support of its acquisition of Catalina Spas. LPI is one of the country’s largest manufacturers of hot tubs and tanning beds and with Catalina has the finest swim spas to its line of products.
TrueNorth acted as financial advisor to LPI Inc. on its Acquisition of Golf Cart World Inc. d.b.a. “The Beast”. The addition of The Beast will further strengthen LPI’s leisure products business.
Luxco, formerly David Sherman Company, is a leading producer, bottler, importer and marketer of a broad portfolio of branded distilled beverages. Established in 1958, the financial restructuring accomplished by this transaction consolidated the ownership and enabled the Company to remain family-owned.
TrueNorth acted as exclusive financial advisor and placement agent to Macton Corporation in connection with the consolidation of its junior debt and procurement of additional growth capital. This was the completion of a refinancing of the Company that start with its senior secured debt refinancing last year.
TrueNorth acted as exclusive financial advisor to Macton Corporation in connection with the refinance of its senior loan facility. This was an important first step in providing the Company with the capital structure necessary to support its growth initiative.
TrueNorth acted as financial advisor and placement agent to Madison Resource Funding LLC in the refinancing of its $80,000,000 senior secured loan. The new facility refinances existing loan obligations and provides liquidity for general working capital needs and future growth.
TrueNorth acted as exclusive Financial Advisor to Manley’s Mighty Marts, LLC and assisted with the sale of six convenience stores with fuel. This transaction was undertaken to sell underperforming units made to position Manley’s for a much larger sale transaction of its remaining locations.
TrueNorth acted as exclusive Financial Advisor to Manley’s Mighty Marts, LLC and assisted with the sale of the operating assets of seventeen convenience stores with fuel. Manley’s entered into a long-term lease and purchase option with the buyer for the land and buildings which houses these stores. This transaction was structured in this manner to work around certain lender prepayment penalties.
Motion Control Group is a designer, developer, and global manufacturer of custom brush, brushless, and linear motors, and motion control components for the medical, life sciences, industrial,automotive, semiconductor, and aviation markets end-markets. The Company established a Wholly Owned Foreign Enterprise (“WOFE”) in China through which MCG worked with its Chinese supplier as well as its customers operating in Asia.
TrueNorth acted as exclusive financial advisor to MinebeaMitsumi in connection with its acquisition of 100% of the Stock in C&A Tool. MinebeaMitsumi’s acquisition of C&A allowed them to increase their footprint by expanding further into the aerospace and medical markets while simultaneously boosting their machined components business.
TrueNorth acted as exclusive financial advisor to Mitsui & Co. in connection with its acquisition of all of the assets of Accountable Healthcare Staffing. With this acquisition, Mitsui has created a structure capable of supplying a wide range of human-resource services for healthcare facilities, including physicians, therapists, and nurses, on a temporary or permanent basis throughout the United States.
Natural Resource Group provides leading-edge environmental planning, permitting, and regulatory compliance services on hundreds of oil & gas, pipeline, electrical transmission, renewables and other energy projects throughout North America. The Company is a fully-integrated consulting firm, providing public affairs, GIS, data management and cultural resources management services.
TrueNorth acted as exclusive Financial Advisor to New England Communications Systems, Inc. and assisted with the restructuring of certain debts and sourcing additional working capital facilities. NECS is a US subsidiary of a company based in India.
TrueNorth acted as exclusive Financial Advisor to NMB(USA) Inc. and assisted with the sale of 100% of the stock of its subsidiary, Hansen Corporation. NMB(USA) is a wholly-owned subsidiary of Minebea Co., Ltd, a publically traded company headquartered in Japan. Hansen’s precision electric motors are sold around the world.
TrueNorth acted as exclusive financial advisor to Okubo Gear Co., LTD. in connection with the sale of its US-based subsidiary, Avon Gear Company (“Avon”). Avon manufactures large diameter, complex, and high-precision transmission and drive-train parts that are sold to heavy equipment OEMs serving primarily the oil & gas, agriculture, construction, and mining end-markets.
Portu-Sunberg is a full-service sales & marketing firm providing value-added services that are essential to successful vendor-retailer relationships. The Company represents over 70 vendors selling into various departments of Target Corporation and dozens of other retailers.
Bonar Plastics manufactures rotationally molded custom plastic products. With plants in the Midwest and West Coast, the Company was a leader within its industry in providing custom products to companies in a broad range of industries, including recreational vehicle, marine, highway safety, and other industries.
TrueNorth acted as exclusive Financial Advisor to Quality Communications Systems, Inc. and assisted with the restructuring of certain debts and sourcing additional working capital facilities. QCS is a US subsidiary of a company based in India.
Reliable Snow Plowing provides snow and ice management, landscaping, and parking lot maintenance services to commercial property owners and managers in various Midwestern metropolitan areas.
TrueNorth acted as exclusive Financial Advisor to Revolution Mobility, LLC and assisted with the sale of substantially all of its assets to Roscoe Medical, Inc. Roscoe is a portfolio company of Tenex Capital Management and the acquisition of Revolution was considered an add-on to Roscoe Medical’s distribution business.
Rugby Manufacturing is North America’s leading designer and manufacturer of Class 3 – 7 dump truck bodies, landscape bodies, platform bodies, truck and trailer hoists, related truck equipment and accessories. The Company sells its products nationally under the prestigious Rugby trademark into the specialized-truck distribution and trailer manufacturing industries.
TrueNorth acted as financial advisor to Rugby Architectural Building Products for its recapitalization of its business to provide working capital and debt restructuring for its fast growing business. Rugby is a full line wholesale distributor of interior building products. Its primary business is the wholesale distribution of non-structural architectural grade interior building products.
TrueNorth provided Scandia Seafood with valuation support in advance of a refinancing. Scandia is a leading wholesaler of fresh and frozen seafood to the restaurant and retain trade.
TrueNorth acted as financial advisor to Showa Denko (“SDK”) on its Acquisition of 50% of the ownership in AMI Automation (“AMI”). By applying AMI’s automation and control technologies to SDK’s wide range of business and production processes, this acquisition will benefit both companies and expand their global presence.
Stratis is a fast-growing designer and marketer of highly engineered, rotationally molded plastic pallets. The Company sells its proprietary products to the worldwide packaging and printing industries.
TrueNorth acted as financial advisor to SUMIDA CORPORATION on its acquisition of the stock of Pontiac Coil, Inc. The acquisition represented SUMIDA’s entre’ into the US market with its own manufacturing facility.
TrueNorth acted as exclusive Financial Advisor to Technibilt and assisted with its acquisition of The French Company. Technibilt is a subsidiary of Wanzl Metallwarenfabrik GmbH. The French Company is a nationwide provider of shopping and grocery carts and retail equipment repair. The acquisition was considered strategic to Technibilt’s business.
TrueNorth acted as exclusive Financial Advisor to Theis Precision Steel Corp. on the refinancing of its senior loan facility. Theis is the largest high carbon and stainless specialty strip mill in North America.
TrueNorth acted as exclusive Financial Advisor to Thermospas, Inc. in its restructuring of unsecured debts and refinancing of certain senior debt facilities prior to the sale of the company. Thermospas is a leading manufacturer of Hot Tubs sold direct to consumers.
TrueNorth acted as exclusive Financial Advisor to Thermospas, Inc. in the sale of substantially all of its assets to Jacuzzi Brands Corporation pursuant to Section 363 of the US Bankruptcy Code. Thermospas is a leading manufacturer of Hot Tubs sold direct to consumers.
TrueNorth represented Thor Industries, Inc. (NYSE) and assisted in considering strategic growth opportunities in mainland China. Thor and its operating subsidiaries represent the world’s largest manufacturer of recreational vehicles.
TrueNorth acted as financial advisor to Toledo Ticket Technologies on its Acquisition of Oobeo, Inc. The addition of Oobeo is another step in Toledo’s strategic plan to provide additional technologies for secure access across the parking and event ticketing industries.
TrueNorth acted as exclusive Financial Advisor to VGFC Realty II LLC on the sale of its real property to DDRZ Realty, LLC.
TrueNorth acted as financial advisor to Wanzl Metallwarenfabrik GmbH and assisted in raising a syndicated senior revolving and term loan facility in support of its acquisition of The Cari-All Group Inc. Wanzl is the world’s largest manufacturer of shopping carts and other retail systems.
TrueNorth acted as financial advisor to Wanzl Metallwarenfabrik GmbH and assisted with its acquisition of The Cari-All Group Inc. Wanzl, headquartered in Germany, is the world’s largest manufacturer of shopping carts and other retail systems. This acquisition for Wanzl, served as its formal entrance into the North American market.
Berkel is a leading manufacturer and distributor of food slicers, food equipment, and scales for the food retail and foodservice sectors.
Salter, headquartered in England, designs, sources and markets a comprehensive range of innovative electronic and mechanical bathroom and kitchen scales, body mass monitors, and complementary culinary products through leading retailers worldwide.
TrueNorth acted as Financial Advisor and Investment Banker to the Creditors Committee in the Section 363 sale of assets of Whyco Finishing Technologies, LLC. Whyco is recognized worldwide as a specialized finishing company that provides engineered surface treatment solutions and hardened processes for the completion of manufactured goods.
TrueNorth acted as exclusive financial advisor to Zahniser’s Yachting Center in connection with the sale of its comprehensive marine facility to Safe Harbor Marina.