Archive for category: 2021

New York, NY (November 30, 2021) – Revel Bikes (“Revel”) of Carbondale, CO has partnered with Next Sparc Growth Partners (“Next Sparc”) of Chagrin Falls, OH. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Revel Bikes.

Revel Bikes (www.revelbikes.com) is a leading designer and manufacturer of premium mountain bikes. Founded in 2016 by Adam Miller, Revel worked with Chris Canfield to bring his legendary Canfield Balance Formula (“CBF”) suspension platform to carbon fiber mountain bikes. Indeed, Revel is the only brand offering CBF on high-end carbon bikes. The use of CBF suspension, combined with exceptional attention to detail in product development and industry-leading customer service, has led Revel to rapid growth.

On the basis of numerous outstanding reviews and awards in all major cycling publications, Revel has grown to be a prominent player in the high-end mountain bike space in only a few short years. Indeed, the Rascal won Outside Magazine’s “Best Overall Mountain Bike of 2020,” and the Ranger won Outside Magazine’s “Best Short-Travel Cross-Country Mountain Bike of 2021.”

“I couldn’t be more thrilled to partner with Next Sparc. I have been amazed at the success we have had in the last three years with Revel Bikes, and my goal is for our success and growth continue at an even greater trajectory,” said Adam Miller, CEO of Revel. “This long-term partnership with Next Sparc will ensure Revel grows into one of the leading mountain bike brands in the industry. Our focus has always been on
making the best products, offering the best service, and having the most fun. Working with our new partners is the next step to continuing that mission.”

Next Sparc Growth Partners (www.nextsparc.com) is a Cleveland-based, family office that makes direct investments in rapidly growing founder-led businesses. The firm is guided by its investment philosophy: “To build exceptional businesses and teams for the long term, and accelerate lasting, sustainable growth, rather than focusing on short-term exit strategies.”

“This partnership was right in our wheelhouse, no pun intended,” says James Carey, Partner and Head of Business Development at Next Sparc. “Our goal is to build partnerships with like-minded founders who are ready to experience how business building expertise and proven entrepreneurial best practices can be the indelible ‘Sparc’ that takes their business to the next level.”

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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PRWeb

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

GlobeNewswire

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.

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.