Beatrice Mitchell Has Been Recognized as One of the Most Influential Women in Mid-Market M&A
For the SEVENTH year, Mergers & Acquisitions has recognized Beatrice Mitchell as one of the Most influential Women in Mid-Market M&A.
Sperry Mitchell Advises Highway Safety on its Sale to Race Rock Infrastructure
New York, NY (January 24, 2023) – Highway Safety Corporation (“HSC”) of Glastonbury, CT, and Ohio Galvanizing Corporation (“OGC”) of Marion, OH (together “Highway Safety”) have been acquired by Race Rock Infrastructure (“Race Rock”) of Houston, TX. Sperry, Mitchell & Company initiated this transaction, assisted in negotiations and served as exclusive financial advisor to Highway Safety.
HSC (www.highwaysafety.net), a premier provider of guardrail, bridge rail, and solar panel support structures, was founded in 1978 by W. Patric Gregory III in Glastonbury, CT. In 1994, Mr. Gregory expanded fabrication and galvanizing operations by establishing OGC (www.ohgalv.com) in Marion, OH, to better serve the company’s nationwide customer base. Following the transaction, Mr. Gregory will remain as President of HSC and OGC and join the Board of Directors of Race Rock.
Donald W. Young, Chairman and CEO of Race Rock Infrastructure, commented, “We are thrilled to partner with Patric Gregory and the talented people at Highway Safety and support them in their continued growth. HSC and OGC fit well with our broader infrastructure strategy and provide increased scope and scale to our existing lines of business to further support critical infrastructure buildout in the United States.”
W. Patric Gregory III, founder of HSC and OGC, added, “Getting to know the team at Race Rock over the last six months, it became clear to me that they are the ideal partner for the business I have spent the last 40 years building. Our shared values of providing a quality product in a timely manner with an emphasis on customer service and environmentally sustainable operations makes this a natural next step in Highway Safety’s journey. I am excited for the future of our combined businesses.”
Race Rock Infrastructure is a Houston-based manufacturer of critical infrastructure products and solutions for transportation, energy transmission/distribution & telecommunications. Race Rock’s main operating unit is Structural and Steel Products (SSP), a Fort Worth-based manufacturer and distributor of engineered poles, sign structures, and highway safety products.
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 Le Sueur Incorporated on its Sale to Delos Capital and The Silverfern Group
New York, NY (January 10, 2023) – Le Sueur Incorporated (“LSI”) of Le Sueur, MN, has been acquired by Delos Capital (“Delos”) of New York, NY, and The Silverfern Group (“Silverfern”) of Greenwich, CT. Sperry, Mitchell & Company initiated this transaction, assisted in negotiations and served as exclusive financial advisor to LSI. Ironwood Capital and Genesis Park provided debt and equity investments in support of the transaction.
“We are excited to partner with Silverfern and the management team of LSI, a leading provider of complex precision aluminum casting and plastic injection molding components,” said Michael Rakiter, Partner at Delos Capital. “We are honored to continue the legacy of a successful third-generation family-owned business created by the Mueller family.”
LSI Chief Executive Officer Dick Seidenstricker said, “We’re thrilled to be partnering with Delos and Silverfern to write the next chapter in LSI’s history. We look forward to the growth opportunities the partnership creates while maintaining the values and culture that has been the foundation of LSI’s success for the past 77 years.”
Silverfern Managing Director Deepak Ghosh added, “LSI is a leading manufacturer of specialized aluminum castings and injection molded plastics, serving global customers successfully over the past seventy-seven years. We look forward to partnering with the management team to grow the Company through a focus on technology and manufacturing excellence in partnership with its customers.”
Le Sueur Incorporated (www.lesueurinc.com) is a leading supplier of complex and pressure-tight aluminum castings and plastic injection molding components. LSI specializes in utilizing permanent mold, sand casting, die casting, plastic injection molding, and precision machining manufacturing processes, to provide its global customers with the most cost-effective method of manufacturing.
Delos Capital (www.deloscap.com) is a lower middle-market private equity firm specializing in management buyouts, recapitalizations, and growth investments.
The Silverfern Group (www.silfern.com) is a global middle-market investment management firm headquartered in Greenwich, CT.
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 SUPCO on its Sale to NSI Industries
New York, NY (August 10, 2022) – Sealed Unit Parts Co., Inc. (“SUPCO”) of Allenwood, NJ has been acquired by NSI Industries (“NSI”) of Huntersville, NC, a portfolio company of Odyssey Investment Partners (“Odyssey”), headquartered in New York, NY. Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to SUPCO.
SUPCO (www.supco.com) is an innovative leader serving the HVAC/R and Appliance parts industries with high-performing parts, components, test instruments, and tools. Headquartered in Allenwood, N.J., SUPCO operates production facilities in New Jersey, the Midwest, and Asia. SUPCO maintains a worldwide network of sales representatives and distributors to serve both domestic and international customers. Within the last decade, SUPCO’s strategic growth has included acquisitions of Climate Technology Corporation, A-1 Components and Cam-Stat. SUPCO’s commitment to innovation, manufacturing quality and new technologies has fueled impressive recent growth.
“SUPCO has been a leader in HVAC/R for more than 75 years and has built a tremendous reputation with its customers for providing first-in-class products, as well as a collaborative, forward thinking organization which puts the customer first,” said Rob Hennessy, NSI’s HVAC/R division manager. “By leading with these attributes, SUPCO naturally aligns itself with NSI and its approach to the marketplace. We welcome the entire SUPCO team to the NSI family and look forward to increasing SUPCO’s HVAC/R and Appliance market share with the added strengths that comes with being a part of the NSI platform.”
“When customers see the SUPCO brand, they can expect technician-focused innovation at value-driven prices, and a commitment to integrity, flexibility, and partnership,” explained SUPCO CEO Chris Mancuso. “NSI Industries and its brands also share these ideals, so we are excited to broaden and strengthen our position in the HVAC/R and Appliance end market part of the NSI family.”
NSI Industries (www.nsiindustries.com) is a leading supplier of stock-and-flow electrical products to the electrical, building technology and HVAC/R markets in North America and worldwide. The Company offers over 7,500 SKUs spanning 21 product categories, including connectors, fittings, wire management and controls.
Odyssey Investment Partners (www.odysseyinvestment.com) is a leading growth-focused middle-market private equity investor, with over $8 Billion of assets under management. Odyssey has established a 20 year history of partnering with manager teams, primarily investing in two broad sectors: industrial products and business services.
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 MTA on its Sale to PNC Riverarch
New York, NY (July 25, 2022) – Medical Technology Associates, Inc. (“MTA”) of Pinellas Park, FL, has been acquired by PNC Riverarch Capital (“PNC Riverarch”) of Pittsburgh, PA. Sperry, Mitchell & Company initiated the transaction and served as exclusive financial advisor to MTA. 
Medical Technology Associates, Inc. (MTA”) (www.mtausa.com) is a leading provider of test, inspection, maintenance, and certification services to the medical gas and controlled environment industries. MTA is one of the largest single-source healthcare compliance companies in the United States. Headquartered in Pinellas Park, FL, the Company maintains national coverage, with regional hubs in Florida, Texas, Arizona, Kansas, and Indiana. In addition to providing service on all major medical gas systems, MTA serves as a distributor for leading equipment manufacturers, including Powerex and Amico. MTA is also a leading national provider of controlled environment solutions, including a comprehensive suite of clean room / hood certification and testing services for pharmacies and labs.
Valeri Marks, President and CEO of MTA, commented, “We are excited to join forces with PNC Riverarch. We have spent years building the infrastructure to support a large and sophisticated organization and look forward to working with PNC Riverarch to aggressively pursue growth, both organically and through strategic partnerships.”
“MTA has a well-earned reputation as a best-in-class provider, supported by its consistent investment in personnel and technology. We believe MTA is ideally positioned to capitalize on exciting industry momentum,” said Andrew Barza, principal with PNC Riverarch. Michael Miller, director with PNC Riverarch added, “We plan to work closely with Val and her team to pursue organic and acquisition-based growth to enhance our suite of offerings and build upon our value proposition to our customers.”
PNC Riverarch (www.pncriverarch.com) is a middle-market private equity firm investing in market-leading companies where it can partner with management to support accelerated growth.
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 Glass Egg Digital Media on its sale to Virtuos
New York, NY (May 18, 2022) – Glass Egg Digital Media Ltd. (“Glass Egg”) of Ho Chi Minh City, Vietnam, has been acquired by Virtuos Holdings Pte. Ltd. (“Virtuos”) of Singapore. Sperry, Mitchell & Company served as exclusive financial advisor to Glass Egg. Morgan Lewis served as legal representative to Glass Egg. 
Glass Egg (www.glassegg.com) is a leading art outsourcing studio serving the video game development market. Founded in 1999, Glass Egg’s extensive art services include concept design and 2D & 3D art production. With a staff of over 400 employees, Glass Egg has established a reputation for excellence in the vehicle art development segment. The studio has contributed to numerous notable AAA games, including Call of Duty: Modern Warfare, Spider-Man, Forza: Horizon 4, Demon Souls, and Need for Speed Heat. Following the acquisition, Glass Egg will rebrand itself as “Glass Egg – a Virtuos Studio”, but will continue to operate independently, with CEO Phil Tran and CFO Steve Reid remaining in their respective roles.
Virtuos (www.virtuosgames.com) is a leading global video game development company, backed by Baring Private Equity Asia (“BPEA”). Founded in 2004, Virtuos has an established track record in game development services and 3D art production for AAA consoles, PC, and mobile titles, enabling its partners to generate additional revenues and achieve greater operational efficiency. Virtuos is headquartered in Singapore, with an employee base of over 2,500 full-time professionals in studios across Asia, Europe, and North America. Virtuos has successfully delivered high-quality content for more than 2,000 projects and its clients, including 18 of the top 20 digital entertainment companies worldwide.
Gilles Langourieux, CEO at Virtuos, commented, “We’re excited to bring the Glass Egg team on board the Virtuos family. With its strong brand equity, coupled with its sizeable and long-term local operations, Glass Egg demonstrates excellent synergies with Virtuos, and we look forward to harnessing our combined expertise to strengthen our commitment to excellence.”
Phil Tran, Glass Egg’s CEO, stated, “We are honored to be a part of an industry stalwart, Virtuos. This deal means our staff will have the ability to expand skills and take on a wider array of projects, which will benefit our clients as well. With the support and resources of Virtuos, we are energized to meaningfully contribute to the industry in its next phase of growth.”
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 Kanawha Scales & Systems on its Sale to Rotunda Capital Partners
New York, NY (April 8, 2022) – Kanawha Scales & Systems, Inc. of Poca, WV has been acquired by Rotunda Capital Partners of Bethesda, MD. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Kanawha.
Kanawha Scales & Systems, Inc. (www.kanawhascales.com) is one of the country’s largest independent distributors, integrators, and servicers of industrial weighing solutions. The Company distributes industrial scales & weighing solutions and integrates these products with value-added measurement & control equipment and proprietary technologies. Kanawha provides comprehensive after-sale service & support, installation & startup, contracted calibrations & inspections, repairs & maintenance, and replacement parts.
Rotunda Capital Partners (www.rotundacapital.com) is a private equity firm that specializes in lower-middle market companies focused on distribution, industrial & business services, and logistics.
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 over 350 transactions in a wide range of industries, with values ranging from $10 to $450 million.
Sperry Mitchell Advises Chainlogix on its sale to Nelson-Miller
New York, NY (March 8, 2022) – Chainlogix of Troy, VA has been acquired by Nelson-Miller, Inc. (“Nelson-Miller”) of Los Angeles, CA, a portfolio company of New Water Capital (“New Water”), headquartered in Boca Raton, FL. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Chainlogix.
Chainlogix (www.chainlogix.com) is a leading provider of engineered components, assemblies and supply chain management solutions to customers across the industrial, lighting and electronics landscape.“We are excited to build upon our first platform in Fund II through the Chainlogix acquisition,” said Matt Carlos, principal at New Water Capital. “Through the combination of Nelson Miller and Chainlogix, the growing enterprise will have access to expanded engineering and supply chain management resources, while leveraging captive electromechanical assembly and functional printing capabilities.”
“We feel as though we found the perfect partners in New Water and Nelson Miller to help accelerate our growth trajectory,” said Chainlogix founder-owner Rick Perrault. “New Water’s success in building technology-driven solutions providers and the out-of-the-box synergies with Nelson Miller make for a perfect fit for our team’s aspirations and goals.”
Nelson-Miller (www.nelson-miller.com) was formed in April 2011 through a merger of two Los Angeles metal manufacturing companies, Miller Dial, founded in 1937, and Nelson Nameplate, founded in 1946. Today Nelson Miller is a leading global supplier of membrane switches, silicone rubber keypads, graphic overlays, metal nameplates, light guides, modules, assemblies and custom applications.
New Water Capital (www.newwatercap.com) is a Boca Raton, Florida-based private equity firm focused on lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million.
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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Beatrice Mitchell Has Been Recognized as One of the Most Influential Women in Mid-Market M&A
For the SIXTH year, Mergers & Acquisitions has recognized Beatrice Mitchell as one of the Most influential Women in Mid-Market M&A.
Sperry, Mitchell & Company: 2021 in Review
We congratulate all of our clients who successfully sold their companies in 2021 for a cumulative $765 million in transaction value.
Our 2021 transactions include the following:
