XLCS Partners, Inc., an independent investment banking firm providing M&A advisory services, is pleased to announce that it served as exclusive advisor to Hagerty Industrial Supply (Hagerty) in its sale to White Distribution & Supply, LLC (WDS), a portfolio company of Slate Capital Group.

Hagerty is a value-added distributor of Class C Maintenance, Repair, Operating and Production (MROP) supplies to OEMs and construction/trade contractors. The Company boasts a broad product inventory of over 20,000 SKUs. Major product categories include fasteners/hardware, tools, abrasives, safety supplies, and other industrial supplies. Services include in-plant storeroom management, bin/crib management services, and complete vendor managed inventory solutions. Hagerty also owns and manages over 50 tech-enabled vending machines within multiple customers’ plants that vend tools, safety supplies, and other products.

Hagerty operates out of five Midwest locations including headquarters in Peoria, Illinois. Hagerty Supply is a division of Hagerty Brothers Company. Founded in 1860, Hagerty Brothers Company remains locally owned and managed by fifth and sixth generation descendants of the original founder, Saul Hagerty.

Headquartered in Fairbury, Illinois, WDS is an integrated distributor of industrial supplies and MRO products for OEMs, including fasteners, adhesives, packaging, foam, poly, glass, safety, janitorial, and more. Founded in 1984, WDS provides total supply chain management and cost reduction solutions for their customers with 15 locations nationwide.

Slate Capital Group is a Baltimore, Maryland based private equity investment group that partners with lower-middle market companies. Slate Capital Group provides liquidity to business owners and growth capital to businesses for further expansion. The principals of Slate Capital Group have significant experience in both running small to mid-sized companies and investing in leveraged buyout transactions.

“We are delighted to join forces with the Hagerty team,” said Erik Ginsberg, Managing Partner of Slate Capital Group. “Hagerty has been putting their customers first since 1860, and our colleagues at WDS share their commitment to service and to excellence. We look forward to a long and successful partnership.”

XLCS acted as the exclusive M&A advisor to Hagerty and the transaction was led by Anthony Contaldo, Partner. The transaction was completed March 29, 2019.

About XLCS Partners
XLCS Partners is an investment banking firm providing advisory services to select clients globally. For 37 years we have been serving clients with our transaction knowledge, creative solutions, selfless insight, and truthful advice.

XLCS Partners, Inc., an independent investment banking firm providing M&A advisory, capital raising, and debt advisory services, is pleased to announce that it served as exclusive advisor to L.A.B. Equipment. Inc. (L.A.B.), in its sale to Spectral Dynamics, Inc.

Founded in 1933, L.A.B. is a global leader in the design, manufacturing, and service of product reliability and package testing equipment. This includes drop testers, shock testers, hydraulic vibration, mechanical vibration, incline impact testers; and through their sister company, Techlab Systems, compression testers. Customers include some of the world’s most recognizable brand names, who depend on the Company’s test systems for use in their own laboratories to test their products and packaging. These manufacturers represent a variety of industries, such as appliances, computers, food, packaging, consumer goods, and electronics. L.A.B. is headquartered in Itasca, Illinois.

Spectral Dynamics is a leading worldwide supplier of systems and software for vibration testing, structural dynamics and acoustic analysis. Spectral Dynamics’ products are used for design verification, product testing and process improvement by manufacturers of all types of electronic and mechanical products. Spectral Dynamics is based in San Jose, California with additional offices in San Juan Capistrano, California; Detroit, Michigan; Baltimore, Maryland; and France, Germany, India, and the United Kingdom.

“Our organizations will have an opportunity to build upon the synergies of our talented people, markets, and products to become even more successful,” said Stewart Slykhous, President and CEO of Spectral Dynamics. “We are very excited about the technology and resources available to our customers and the opportunities we will be able to offer to our employees going forward.”

The manufacturing operations of L.A.B. will remain in Itasca as will the engineering, sales, and related support.

“We had a great partner in XLCS Partners that made this transaction possible,” said Bill Noonan, L.A.B. CEO. “John Sheridan and his team were truly professional and provided fantastic support throughout the process. It is not easy selling a niche technical manufacturing company but they were great in guiding us through the sale and delivered an excellent outcome with no surprises.”

XLCS acted as the exclusive M&A advisor to L.A.B. and the transaction was led by John Sheridan, Managing Director. The transaction was completed March 15, 2019.

About XLCS Partners
XLCS Partners, Inc. is an independent investment banking firm that provides M&A advisory, capital raising and debt advisory for select clients globally. Middle market companies and private equity funds rely on our creative solutions, thoughtful insight and truthful advice when considering exiting their companies, making strategic acquisitions, partnering with private equity sponsors and raising debt or equity capital.

CHICAGO, IL – XLCS Partners, Inc., an independent investment banking firm providing M&A advisory, capital raising, and debt advisory services, is pleased to announce that its client, Proven Partners Group (PPG), has been acquired by Tilia Holdings. 

PPG is an outsource provider, also known as a contract packer (co-packer) or contract manufacturer (co-man) to major food and consumer packaged goods companies in the dried food market including food, nutrition, medical nutrition, and health science. Founded in 2004, the Company offers integrated supply chain value-added services to its customers. PPG produces primarily dry and free flowing products in multiple blending, filling and packaging technologies such as; jars, canisters, pouches, bags, cartons, single/multi-serve, or combinations of same. The Company is headquartered in Elgin, Illinois and employs approximately 250 full-time employees.

Tilia Holdings is a Chicago, Illinois based private investment firm focused exclusively on the food supply chain. Through an interdisciplinary approach to investing, Tilia partners with business services companies that support leading and emerging CPG brands. This acquisition supports Tilia’s mission of making the food chain safe, nutritious and sustainable. 

“Bob Contaldo and his team at XLCS played a critical role in supporting the transaction and bringing the two parties together,” said Johannes Burlin, Chairman of PPG and Co-CEO of Tilia Holdings. “We are thrilled to partner with PPG and further invest behind their continued growth.”

“Building relationships, integrity, trust, patience and over-delivering upon commitments. These are just some of the pillars that built the foundation behind PPG,” shared Dave Nelson, CEO of PPG. “Bob Contaldo and the entire XLCS Partners team supporting our transaction delivered upon those pillars to levels we could have never imagined, nor anticipated, necessary throughout the process.” 

XLCS acted as the exclusive M&A advisor to PPG and the transaction was led by Bob Contaldo, Managing Partner. The transaction was completed February 22, 2019.

About XLCS Partners

XLCS Partners, Inc. is an independent investment banking firm that provides M&A advisory, capital raising and debt advisory for select clients globally. Middle market companies and private equity funds rely on our creative solutions, thoughtful insight and truthful advice when considering exiting their companies, making strategic acquisitions, partnering with private equity sponsors and raising debt or equity capital.