XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to Hendrick Manufacturing (Hendrick), on its sale to Etnyre International Ltd (Etnyre).

Hendrick was established in 1876 as a manufacturer of perforated metal screens, serving the oil filtration and coal industries. The company grew in size and scope, and in 1974, it expanded into other industrial screens, forming the Hendrick Screen division. With operating facilities in Carbondale, Pennsylvania, and Owensboro, Kentucky, Hendrick manufactures industrial perforated products, industrial wedge wire and profile bar screen products, and aesthetically pleasing architectural products for interior and exterior spaces. Serving over 750 customers across 15 diverse market segments in North America and 35 countries globally, Hendrick is the leading private provider of perforated metals and screen products.

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 Hendrick, E.D. Etnyre & Co., SMF, and BearCat Mfg. This acquisition expands Etnyre’s metal manufacturing presence in new markets.

At the end of 2020, XLCS represented SMF in its sale to Etnyre. SMF specializes in first-class machining and metal fabrication. The SMF acquisition diversified Etnyre’s footprint in the manufacturing sector to serve existing customers and enter into oil and gas, power generation, and wind power industries.

XLCS acted as the exclusive M&A advisor to Hendrick, and the transaction was led by Bob Contaldo, Managing Partner and head of the firm’s Metal Fabrication Industry Practice Group, along with Eric Schoendorf, Vice President, and David Silva, Associate. The transaction was completed on May 6, 2024.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to J & R Dairy Service, Inc. and Joe & Ross, Inc. (Joe & Ross), on their sale to GlacierPoint Enterprises, Inc. (GlacierPoint), a portfolio company of Mill Point Capital LLC. Going forward, Joe & Ross will operate as the Great Lakes Division of GlacierPoint.

Joe & Ross, headquartered in Chicago, Illinois, is a premier direct store delivery (DSD) distributor of frozen and refrigerated food products in the Chicago-metro area. Founded in 1965, Joe & Ross has built a stellar reputation with a wide range of partner brands including Nestlé, Häagen-Dazs, Ben & Jerry’s, Edy’s, Nesquik, and Breyers. Joe & Ross serves a diverse customer base comprised of retail store chains, drug stores, independent corner stores, gas stations, schools, restaurants, sports stadiums, and food e-commerce websites.

GlacierPoint, headquartered in The Bronx, New York, is one of the nation’s leading DSD distribution and logistics platforms. Serving as the exclusive DSD distributor of Dreyer’s Grand Ice Cream and Unilever Ice Cream, GlacierPoint features brands such as Häagen-Dazs, Ben & Jerry’s, and Nestlé Ice Cream. In addition to ice cream, GlacierPoint distributes a variety of fresh and frozen products, servicing a territory that spans from the U.S./Canadian border to South Carolina. Recognized for its dependability, reliability, and consistency, GlacierPoint distributes to grocery store chains, independent supermarkets, delis, drugstores, convenience store chains, and foodservice customers.

“Selling our family-owned business of almost 60 years was both nerve-racking and exciting,” shared Ross Purpura, co-owner of Joe & Ross. “Bob Contaldo, Matt Crabtree, and the entire XLCS team dedicated endless hours to not only find us a buyer but the right buyer—one that shared our family principles. They expertly guided us through both the business and emotional aspects of the sale, ensuring our company was in the best hands with GlacierPoint.”

“It is a privilege to be part of the history of Joe & Ross,” said Bob Contaldo, XLCS Managing Partner. “Representing family shareholders and helping them realize the rewards of their hard work across generations is truly gratifying. We are excited to have found a partner who will not only grow the business but also uphold the proud legacy of this great company.”

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.

XLCS Partners, Inc., a leading middle-market investment bank, is pleased to announce it served as the exclusive advisor to SVI International (SVI) on its sale to The Zabel Companies (Zabel).

SVI, headquartered in DeKalb, Illinois, is the leading supplier of aftermarket repair parts and accessories for automotive lifts, wheel service and automotive shop equipment, and other niche applications. Catering to auto shops, collision centers, dealerships, and various other end markets, SVI ensures safety and minimizes downtime with its extensive selection of quality parts and accessories. With over 40,000 components available, SVI serves as a comprehensive solution provider, offering fast turnaround times and exceptional customer support. Their offerings extend beyond automotive shop equipment to include oil seals, boat lift repair parts, EV charging station accessories, and more. SVI provides same-day shipping on in-stock parts from its warehouses in DeKalb, Illinois, and Los Angeles, California.

Based in Charlotte, North Carolina, Zabel is an investment firm dedicated to partnering with management teams to build privately held companies over the long term. Zabel brings a patient and flexible approach to investing in and growing high-quality businesses. Whether through a buyout, recapitalization, or injection of growth capital, Zabel’s strategy is to work closely with management teams to grow businesses and build value for all parties involved.

“We could not have navigated through the acquisition process without the excellent guidance provided by all the staff at XLCS,” said Doug Climenhaga, President of SVI. “They were a wonderful group to work with who absolutely organized and kept all the pieces together seamlessly, allowing for the sought-after final outcome.”

XLCS acted as the exclusive M&A advisor to SVI, and the transaction was led by Reed McMahon, Associate, and Anthony Contaldo, Partner. The transaction was completed on March 4, 2024.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as advisor to Medusind, a leader in healthcare Revenue Cycle Management (RCM) backed by Alpine Investors, on its acquisition of edgeMED Healthcare (edgeMED).

Based in Boca Raton, Florida, edgeMED has been at the forefront of offering expert RCM services and innovative technological solutions tailored to enhance clinical, financial, and operational efficiencies for medical organizations of all sizes and specialties since 1981.

Established in 2002, Medusind has emerged as a key provider of RCM solutions across medical fields, including dental, anesthesia, pathology, emergency medicine, surgery, radiology, and more. Using proprietary technology, Medusind consistently delivers excellent results to physician-provider practices. Over the past twenty years, it has experienced significant growth fueled by diverse service offerings, strategic acquisitions, and a highly skilled team of experts. Processing over $2 billion in claims, serving 30,000+ physicians, and supporting 30+ EMR platforms, Medusind prioritizes client satisfaction with its global workforce of over 4,000 members.

The transaction with Medusind was completed on December 8, 2023, led by Johnny Sebastian, XLCS Associate, and Anthony Contaldo, XLCS Partner.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to Cost Segregation Services, Inc. (CSSI), on its sale to Align Capital Partners (ACP).

Headquartered in Baton Rouge, Louisiana, CSSI is a national provider of cost segregation studies for commercial and residential property owners. Through a robust technology-enabled service model and national network of over 300 external sales representatives, CSSI completes thousands of studies annually that help clients maintain tax compliance and optimize cash flow of real property assets. ACP’s investment represents the first institutional capital in CSSI since its founding in 2003.

ACP is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $1.5 billion in committed capital with investment teams in Cleveland and Dallas. The acquisition of CSSI along with a second related investment have helped ACP establish a specialty tax consulting platform. Today, the company’s core service lines include cost segregation, research and development tax credits, and energy efficiency tax credit consulting services.

“The XLCS team professionally illustrated CSSI’s success history to those interested companies that brought many ‘best of the best’ choices to CSSI to find a business partner,” said Jim Shreve, Founder and CEO of CSSI. “The XLCS managed result was the clear review to attain the best final choice in favor of CSSI and its new investment partner in an efficient timetable. An exceptional proven result.”

Anthony Contaldo, Partner of XLCS, commented “We are excited to have worked with CSSI on a successful transaction. ACP is an excellent partner to help CSSI sustain continued growth in the coming years and we look forward to watching the company further establish its position as a leader in the tax services space.”

XLCS acted as the exclusive M&A advisor to CSSI and the transaction was led by Anthony Contaldo, Partner. The transaction was completed August 1, 2023.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to Globe International Corporation (Globe), on its sale to AFC Industries (AFC), a portfolio company of Bertram Capital.

Founded in 1950, Globe is a global supplier of OEM fasteners, garage door hardware, and galvanized aircraft cable. Based in Philadelphia, Pennsylvania, the company specializes in value-added kitting and related services. It holds a leading market position in the overhead door industry, serving as a critical supply chain partner to leading OEMs and specialty distributors of garage doors, parts, and accessories. Other industries served include industrial and residential fence, industrial OEMs, furniture, and solar.

“Since Globe has been in our family for three generations, the decision to embark on this journey is one that we did not take lightly,” said Globe co-owner Steve Weissman.  “XLCS served as an invaluable advisor to guide us through this process. Anthony and Jay both had a tremendous understanding of our business and the overall landscape of the industrial fastener market. That industry knowledge was critical in finding the right partner and assisting us through every stage of the journey.”  

Headquartered in West Chester, Ohio, AFC Industries is a dynamic organization dedicated to providing supply chain management solutions on small components and tooling for a diverse base of manufacturers and assemblers across a broad range of industries. Through its experienced team and global resources, AFC excels at making customer manufacturing and assembly processes more efficient and cost-effective.

XLCS acted as the exclusive M&A advisor to Globe, and the transaction was led by Anthony Contaldo, Partner and Jay Cremer, Vice President. The transaction was completed February 29, 2024, and marks the firm’s nineteenth fastener and industrial distribution transaction.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as advisor to Vertex Service Partners, a Residential Home Improvement Services Platform backed by Alpine Investors, on its investment in Kairos Roofing, a premier South Florida-based residential roofing company.

Kairos Roofing offers a range of services, including roof repair, replacement, leak detection, hurricane strap installation, insulation, ventilation, maintenance programs, and custom sheet metal fabrication. Founded by Zachary Wallick, a third-generation roofer with over 15 years of experience, Kairos Roofing is known for its expertise in the roofing industry.

Vertex Service Partners, an investment platform backed by Alpine Investors, is focused on becoming the preferred partner for founders, operators, employees, and homeowners. With operations now in the Northeast, Southeast, and Midwest, Vertex actively seeks new partnerships nationwide. The company specializes in acquiring and growing residential home improvement services, with a focus on roofing and exterior services.

In the past two months, Vertex successfully invested in six new partner businesses, bringing the total acquisitions to 11 since its launch in March 2023.

The transaction with Kairos Roofing was completed on November 8, 2023, led by Johnny Sebastian, XLCS Associate, and Anthony Contaldo, XLCS Partner.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Aviation Concepts, Inc. (“ACI”) on an investment from CORE Industrial Partners.

Based in Sunrise, Florida, ACI is a provider of mission-critical, aircraft parts and components for the commercial aviation industry. Founded in 1991, ACI offers high-quality, nose-to-tail used serviceable material (“USM”) with applications across a variety of aircraft fleets. The company provides quality products, high-level customer service and proven reliability to its global customer base of commercial and freight airlines, maintenance, repair, and overhaul (“MRO”) organizations and distributors via its broad product portfolio.

Jason Fulton, Partner at CORE, said, “ACI is a niche player in a highly attractive industry that has differentiated itself with its strong customer relationships and diverse suite of products. We are excited to partner with Dean and the entire ACI team as we leverage our industry knowledge, resources, and experience to help expedite the company’s next stage of growth, expanding its value proposition and market reach through both strategic initiatives and complementary acquisitions.”

CORE Industrial Partners is a private equity firm with over $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses with offices in Chicago, Austin, and Cleveland.

Bob Nardelli, Senior Operating Partner at CORE, will become Chairman of the ACI Board of Directors.

“XLCS was an invaluable advisor throughout our journey,” shared Dean Wood, ACI President & CEO. “They introduced us to numerous strategic and equity players specifically focused on our space – all intent to help us execute our growth plan, diversify our service offerings, and expand our platform. At every step, especially through the diligence phase and leading up to closing, our team agrees, we could never have done it without their expert guidance.”

“Dean and his team have built a fantastic platform that is well positioned for continued growth and M&A,” stated Joe Contaldo, Partner and Head of A&D at XLCS Partners. “It was a pleasure to work with him and the ACI team. This transaction is also a prime example of the growing excitement private equity firms have for the industry, and more specifically USM & MRO businesses.”

XLCS acted as the exclusive M&A advisor to ACI and the transaction was led by Joe Contaldo, Partner; Reed McMahon, Associate; and Johnny Sebastian, Associate. The transaction was completed on January 10, 2024.

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.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to Hi-Q Fasteners (Hi-Q) on its sale to LindFast Solutions Group (LSG), a portfolio company of Nautic Partners.

Based in Santa Fe Springs, California, Hi-Q offers a complete line of sems, thread forming and machine screws (inch, metric, steel, and stainless), in addition to a full line of spacers and standoffs and self-clinching hardware.

Headquartered in Blaine, Minnesota, LSG is the leading high-touch master distributor of specialty fasteners in the North American market and is a vital supply chain partner and superior sourcing solution to a broad base of distribution customers through its several product brands such as Lindstrom, Stelfast, Mega, Solution Industries, and more.

Nautic Partners, a Providence, Rhode Island-based middle-market private equity firm, acquired LSG in 2019 in partnership with management.

“We are excited for the opportunity to learn from Hi-Q and expand their capabilities while they can now leverage the significant supply chain capabilities and distribution network that LSG offers,” said LSG CEO Bill Niketas. “We think this combination is very powerful and will be a benefit for our customers, suppliers, employees, and others.”

“From the initial conversation we knew that Hi-Q and LindFast were a strategic and cultural match,” stated Anthony Contaldo, Partner at XLCS. “The process was very smooth and resulted in a great outcome for all.”

XLCS acted as the exclusive M&A advisor to Hi-Q and the transaction was led by Anthony Contaldo, Partner. The transaction was completed December 27, 2023, and marks the firm’s eighteenth fastener and industrial distribution transaction.

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.