XLCS Partners advises SMF in its sale to Etnyre International
XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to SMF Incorporated (SMF) in its sale to Etnyre International Ltd (Etnyre).
SMF specializes in medium to heavy gauge metal fabrications for OEMs in the heavy industrial engine and power generator, wind turbine, and mining and construction equipment markets. The Company provides laser cutting, forming, welding, machining, and finishing services for industrial engine and power generation, comprised of engine oil pans and engine bases, general fabrication for material handling, forestry, industrial components, construction, railroad, oil and gas, and wind tower embedment rings. SMF utilizes the most advanced equipment, technology, and manufacturing techniques ensuring customer satisfaction and consistently high quality. The Company was established in 1972 in Minonk, Illinois, and expanded in 2013 with an additional facility in Anderson, South Carolina.
Founded in 1898 and headquartered in Oregon, Illinois, Etnyre proudly manufactures a wide range of equipment that serves the asphalt roadbuilding industry, from asphalt distributors to chip spreaders and storage tanks to trailers. With this acquisition, the Etnyre group of companies now includes SMF, Rayner Equipment Systems, Bearcat Manufacturing, and E.D. Etnyre Co. This acquisition gives Etnyre additional manufacturing capacity to serve existing customers and entry into oil and gas, power generation, and wind power industries.
“We have known the team at XLCS for several years and have always successfully referred them to trusted friends that own businesses,” shared Paul Halvorsen, SMF President. “They have had great success in our area selling some of the most admired businesses and have not only proven themselves with excellent results, but have become known as top professionals throughout the investment banking space. Our specific deal required not only extreme attention to detail but also proper respect and diligence for all parties. We realized a superb deal even amongst one of the most challenging times in business and our country’s history. The whole team at XLCS performs to the highest level at all times and treats every detail as critical. From getting to know the client, compiling the CIM, populating the Data Room, to negotiating the best fit prospects and finalist, and inevitably closing the deal, I can truly say they are the best! We heard very quality comments from all of the professionals involved in our deal that the XLCS team was the best or as good as the best that they have ever dealt with. Any business owner definitely needs to consult XLCS before choosing the best fit investment banker to sell their business. You only have one chance to get it right for everyone involved and XLCS works tirelessly for this result.”
XLCS acted as the exclusive M&A advisor to SMF and the transaction was led by Bob Contaldo, Managing Partner and head of the firm’s Metal Fabrication Industry Practice Group. The transaction was completed October 27, 2020.
About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. More information is available at www.xlcspartners.com.