Sperry Mitchell Advises Douglas Machines on its sale to CNL Strategic Capital

New York, NY (October 7, 2021) Douglas Machines Corp. (“Douglas”) of Clearwater, FL, a portfolio company of KODA Enterprises Group (“KODA”) of Waltham, MA, has been acquired by a newly-formed holding company in partnership with CNL Strategic Capital, LLC (“CNL”), which is sub-managed by Levine Leichtman Strategic Capital, LLC (“LLSC”). Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to Douglas. Burns & Levinson served as Douglas’ legal representative for the transaction. Honigman served as legal representative for the buyer.

Douglas (www.dougmac.com) is a leading provider of innovative and highly effective commercial cleaning and sanitizing systems to the food, pet food, nutraceutical and industrial end markets. Customers leverage Douglas’ equipment to ensure compliance with the increasingly stringent regulatory cleaning requirements pertaining to food safety.

Paul Claro, Douglas’ CEO, stated, “Douglas has a long history of manufacturing the highest quality products which our customers rely on to run their operations effectively.  My team and I are excited to partner with CNL Strategic Capital to build upon our current momentum and accelerate our growth initiatives going forward. I look forward to our collaboration and the additional value-added resources they will bring to our business as we continue to provide our customers mission-critical systems.”

CNL Strategic Capital (www.cnlstrategiccapital.com) is a publicly registered, non-traded limited liability company that seeks to provide current income and long-term appreciation to individuals by acquiring controlling equity stakes in combination with loan positions in durable and growing middle-market businesses. The company is externally managed by CNL Strategic Capital Management, LLC and Levine Leichtman Strategic Capital, LLC.

Levine Leichtman Strategic Capital is an affiliate of Levine Leichtman Capital Partners, LLC (“LLCP”) (www.llcp.com), a middle-market private equity firm with a 38-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products.  LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies.

KODA Enterprises Group (www.koda.com) is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit from the financial strength and operational expertise KODA provides to its portfolio companies.

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $500 million.

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CNL Strategic Capital

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Sperry Mitchell Advises dBm on its Sale to Maury Microwave

New York, NY (October 5, 2021) dBmCORP, Inc. (“dBm”) of Oakland, NJ has been acquired by Maury Microwave, Inc. (“Maury”) of Ontario, CA, a portfolio company of Artemis Capital Partners (“Artemis”), headquartered in Boston, MA. Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to dBm. Hirschler Fleischer served as dBm’s legal representative for the transaction.

dBm (www.dbmcorp.com) is a leading designer and manufacturer of wireless link emulation equipment used for research & development, qualification and production verification testing in the satellite and wireless communication industries. dBm’s best-in-class technology empowers its customers to accurately test the performance of their mission-critical, space-based communication systems by emulating signal propagation through the atmosphere and non-linear distortion caused by electronic hardware. “We are excited to work together to address the next generation of satellite communication requirements,” said Dale Sydnor, President of dBm. “With Maury’s help, we will expand our footprint both within the United States and abroad, while focusing on ensuring our customers feel supported and continue to put their faith in dBm as a trusted partner.”

Michael Howo, President and Chief Executive Officer of Maury stated “dBm is widely recognized as a leader in SATCOM link emulation. This directly supports our vision of an interconnected world where wireless technologies are reliable and efficient. We look forward to leveraging both companies’ technical competencies and resources to accelerate development and extend our market reach to help our customers build better products thereby ensuring reliable and efficient satellite communications.”

Maury Microwave (www.maurymw.com) designs and manufactures state-of-the-art RF measurement and interconnect solutions that enable the world’s leading wireless communication technologies and networks to get better, faster, and stronger.

Artemis Capital Partners (www.artemislp.com) is a specialized private equity firm focused on acquiring and partnering with differentiated Industrial Tech companies, whose people and products enable and accelerate a healthier, safer, more connected, mobile, productive, and equitable world.

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $500 million.


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Sperry Mitchell Advises Dynamic Automation & Robotics on its Sale to ATC Automation, a TASI Group business unit

New York, NY (September 14, 2021) Make-All Corporation dba Dynamic Automation & Robotics (“Dynamic”) of Simi Valley, CA has been acquired by ATC Automation (“ATC”) of Cookeville, TN, a business unit of TASI Group.  Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to Dynamic.

Make-All Corporation dba Dynamic Automation & Robotics (www.dynamicautomation.com) is a leading provider of advanced automation solutions for the life sciences and general industrial end-markets. Dynamic designs, engineers, integrates, and supports advanced robotics & automation systems for a range of applications, including handling, assembly, dispensing, inspection, packaging, and labeling. Dynamic is an authorized FANUC integrator.

ATC Automation (www.atcautomation.com) is a manufacturer and integrator of automated production assembly and test systems. ATC’s products include lean manufacturing and manual work cells, conveyors, rotary dial indexers, robotic assembly systems, and leak testing systems. ATC Automation is a business unit of the TASI Group.

TASI Group (www.tasigroup.com) designs, manufactures and services test, measurement, inspection and automated assembly systems for the transportation, life sciences, food & beverage, consumer goods, industrial and pharmaceutical markets. TASI Group is headquartered in Marlborough, MA, and is a portfolio company of Berwind Corporation.

Berwind Corporation (www.berwind.com) is a fifth-generation, family-owned investment management firm based in Philadelphia, PA.

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger and acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $550 million.

Sperry Mitchell Advises MedLit Graphics on its Sale to TCG Legacy, a CORE Industrial Partners portfolio company

New York, NY (July 15, 2021) MedLit Graphics, Inc. (“MedLit”) of Windsor, NJ has been acquired by TCG Legacy Holdings LLC (“TCG”), a portfolio company of CORE Industrial Partners, LLC (“CORE Industrial Partners”).  Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to MedLit.

Lakshman Samala and Rao Ponugoti, Co-Presidents of MedLit, said, “Since MedLit’s inception, we’ve been committed to providing outstanding speed, quality, and service for our customers with the goal of building the business into a leader in pharmaceutical packaging. We’ve now reached a critical turning point in our growth trajectory, and we believe that leveraging TCG Legacy’s complementary capabilities will yield immediate benefits for our customers and will help us take MedLit to the next level.”

Together, MedLit and TCG Legacy will create a robust platform that serves both brand-name and generic pharmaceutical companies. The combination will expand the overall scope and breadth of capabilities to service both production and marketing applications for pharmaceutical customers.

MedLit Graphics, Inc. (www.medlitgraphics.com) a leading provider of packaging & labeling solutions to the pharmaceutical industry. The Company’s comprehensive product offering includes outserts & inserts, container / product labels, medication guides, and folding cartons. MedLit operates a premier line of sophisticated packaging equipment that enables the Company to provide high-quality products to customers on short lead times.

TCG Legacy (www.tcglegacy.com) is a full-service marketing solutions provider offering a broad range of cross-media marketing, graphics, printing and packaging services. TCG Legacy primarily serves the pharmaceutical and higher education end markets, including specialized pharmaceutical application providers and some of the most prestigious higher education institutions in the United States, from its manufacturing facility in Raleigh, NC.

CORE Industrial Partners (www.coreipfund.com) is a Chicago-based private equity firm with more than $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. With capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies with lasting results.

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger and acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $15 to $450 million.

Private Equity Profits Podcast with Seth Greene Episode 003 Beatrice Mitchell

Check out the Private Equity Podcast episode #3:

Selling Your Portfolio Business Post Covid with Beatrice Mitchell!

VIDEO: Beatrice Mitchell Leads a Panel at the 2021 Mergers & Acquisitions’ Most Influential Speak Conference

Mergers & Acquisitions’ 2021 Most Influential Women Speak Conference was held virtually on February 24th, 2021. The Program featured keynote presentations, fireside chats, interactive panel discussions, and breakout sessions. The Conference covered the most important industry trends and themes, such as: Promoting & Implementing Diversity in M&A, Maximizing Deal Flow, Picking Winners in the COVID Era, and Managing Risk Across Your Portfolio. Beatrice Mitchell of Sperry, Mitchell & Co. led a panel discussion on Starting Your Own Firm, which included panelists Marilyn Adler from Mizzen Capital, Jeri Harman of Avante Capital Partners and Suzanne Yoon Kinzie Capital Partners.

Sperry Mitchell Advises Planar Monolithics Industries on its Sale to Quantic Electronics

New York, NY (March 8, 2021) Planar Monolithics Industries, Inc. (“PMI”) of Frederick, MD has been acquired by Quantic Electronics (“Quantic”), a portfolio company of Arcline Investment Management (“Arcline”). Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to PMI. Hirschler Fleischer served as PMI’s legal representative for the transaction.

PMI was founded by Dr. Ashok (Ash) Gorwara in 1989. For over three decades, PMI has been a leading supplier of custom, high-reliability MIC/MMIC components and subsystems for applications in space, military, communications, commercial, and consumer electronics systems. This acquisition marks the next chapter in a highly distinguished career for Dr. Gorwara. “I am extremely happy with this outstanding outcome for PMI, my dedicated staff and myself,” said Dr. Gorwara. “The Sperry Mitchell team was critical to the success of this transaction. Their involvement allowed me and my management team to focus on running the business while they drove the deal process forward. When obstacles were encountered, the Sperry Mitchell team was always available and prepared with creative solutions that were agreeable to all parties and led to a positive result for everyone involved in the transaction.”

Sebastian Palacio, General Manager of PMI stated, “PMI will carry on the legacy of its founder, Dr. Ash. The company was founded to take advantage of the burgeoning demand for monolithic-based products using Hybrid MIC/MMIC technology innovations. For the last 30 years, we have been dedicated to developing new technology and products that solve our customers’ difficult design challenges. I would like to thank all the employees that have contributed to our years of success, and I look forward to working as part of the Quantic family to write our next chapter.”

Quantic Electronics. (www.quanticnow.com) is an electronic components company focused on defining and delivering the future of mission-critical electronics. The firm has over a century of combined experience as reliable problem-solvers and trusted partners in military, aerospace, industrial and commercial markets.

Arcline Investment Management (www.arcline.com) is a growth-oriented private equity firm that seeks to invest in thriving middle market businesses with structurally recurring revenue streams in high value industries. Arcline’s differentiated investment strategy combines deep business model expertise, proactive thematic research, an unrelenting focus on the upside and a collaborative, management-first approach to value creation. The firm’s primary sectors of interest include defense, aerospace, critical infrastructure services, industrial & biopharmaceutical technology, life sciences and specialty materials. Launched in 2019, Arcline currently has $4.3 billion in cumulative capital commitments. The firm’s more than 35 professionals are predominantly based in New York and San Francisco.

Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $10 to $450 million.

Beatrice Mitchell Has Been Recognized as One of the Most Influential Women in Mid-Market M&A

For the fifth year, Mergers & Acquisitions has recognized Beatrice Mitchell as one of the Most influential Women in Mid-Market M&A.

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Sperry Mitchell Advises OCP Group, Inc. in its sale to Interplex Holdings

New York, NY (December 28, 2020)OCP Group, Inc. (“OCP”) of San Diego, CA, a leading designer and manufacturer of complex custom connectors and cable assemblies, has been acquired by Interplex Holdings (“Interplex”) of Singapore. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to OCP.

“OCP is very excited to become a part of the Interplex family,” said Treacy Sommer, General Manager and shareholder of OCP. “By joining Interplex, we will be a part of a global team that offers responsive and technical expertise to top-tier OEMs in the Medical, Life Sciences, Automotive, Data Center and Industrial markets.”

“OCP has a solid track record of over 30 years in the design and manufacturing of highly-reliable custom connectors and cable assemblies for key major OEMs. The acquisition of OCP is a strategic investment in expanding Interplex’s fast-growing Medical & Life Sciences product portfolio. They also bring valuable opportunities in specialized sensors, as well as harsh environment applications,” said Alessandro Perrotta, CEO of Interplex.

OCP Group, Inc. (www.ocp.com) is a leading designer and manufacturer of highly-reliable custom connectors and cable assemblies, serving as a trusted partner to OEMs in the automation, medical, life sciences, and robotic sectors. OCP has been an Inc. 5000 Fastest Growing Private Company for the last 3 years and has over 30 years of experience providing flexible interconnect solutions.

Interplex Holdings (www.interplex.com) is the world’s leading designer and manufacturer of customized, high-precision interconnect solutions. Headquartered in Singapore, Interplex has established a leading position in key fast-growing markets, such as the Electronification of Cars, Autonomous Driving, Medical & Life Sciences and Data Centers. Interplex’s global footprint spans 25+ locations across 13 countries.

Sperry Mitchell (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger and acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries.