Sperry Mitchell Advises Kencor Elevator in its Recapitalization by Arcline Investment Management

New York, NY (September 22, 2020) –  Kencor Elevator Systems, Inc. (“Kencor Elevator”) of West Chester, PA has been recapitalized by Arcline Investment Management (“Arcline”) of San Francisco, CA. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Kencor Elevator.

Karen Kennedy, CEO of Kencor Elevator and daughter of founder Richard Kennedy, said, “We are a company committed to quality and customer service. Our people are our greatest asset, contributing to our core values of safety, integrity, respect, dedication, and education. This investment will provide them with opportunities for further growth and development.”

Commenting on behalf of Arcline, C. Mark Boelhouwer stated, “Kencor Elevator is highly regarded as a business, with a strong reputation for exceptional customer service. The addition of the Company to Arcline’s elevator services portfolio significantly expands our regional coverage, and perfectly complements our other portfolio companies, in particular Jersey Elevator (Aberdeen, NJ), and D&D Elevator (Elmsford, NY).”

Kencor Elevator (www.kencorelevator.com) provides elevator maintenance, repair, modernization, and new construction services in the Mid-Atlantic region. Kencor Elevator’s mission is to promote the safe and efficient operation of vertical transportation systems through the professional and timely delivery of construction, maintenance and repair services by an educated and experienced workforce.

Arcline Investment Management (www.arcline.com) is a private equity firm with $1.5 billion in committed capital, investing in niche, market-leading companies with a declared passion for growth. Arcline approaches investment from multiple perspectives, but with a single vision – to identify and unlock the breakout potential in their portfolio companies. Some of Arcline’s primary interest areas include Industrial Technology, Specialty Materials, Aerospace & Defense, Personal Care, Medical Products and Life Sciences.

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 $10 to $450 million.

Sperry Mitchell Advises D&D Elevator in its Recapitalization by Arcline Investment Management

New York, NY (September 9, 2020)D&D Elevator Maintenance, Inc. (“D&D Elevator”) of Elmsford, NY has been recapitalized by Arcline Investment Management (“Arcline”) of San Francisco, CA. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to D&D Elevator.

Bobby Schaeffer, CEO and President of D&D Elevator, said, “We have achieved a sustained period of robust growth, which requires substantial resources to ensure we can continue to provide high-quality service to our customers. This significant investment provides us with necessary, long-term stability and the backing to continue our success story.”

Arcline commented, “D&D Elevator is widely recognized for its quality of service and has a legacy of long-term relationships built on the highest levels of customer satisfaction. We are delighted to welcome the Company to our expanding elevator services portfolio, and look forward to supporting its continued growth through additional investments in technology and complementary acquisitions.”

D&D Elevator (www.ddelevator.com) is a leading independent provider of elevator maintenance, repair, modernization, and new installation services in the greater New York City area. Founded in 1981, the company has a legacy of long-term relationships built on the highest levels of customer service and reinforced by its team of professional technicians.

Arcline Investment Management (www.arcline.com) is a private equity firm with $1.5 billion in committed capital, investing in niche, market-leading companies with a declared passion for growth. Arcline approaches investment from multiple perspectives, but with a single vision – to identify and unlock the breakout potential in their portfolio companies. Some of Arcline’s primary interest areas include Industrial Technology, Specialty Materials, Aerospace & Defense, Personal Care, Medical Products and Life Sciences.

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 $10 to $450 million.

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Beatrice Mitchell Featured in Brown Brothers Harriman’s Women & Wealth Magazine

Brown Brothers Harriman’s Women & Wealth Magazine has featured Beatrice Mitchell as one of 20 Women to Watch in 2020. In this article, they feature 20 inspiring women and share how 2020 is set to be a pivotal year in their professional journeys. They also spotlight a few examples of their extraordinary work in response to the current global pandemic.

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Beatrice Mitchell Has Been Recognized as One of the Top U.S.A. Women Dealmakers

Global M&A Network has recognized Beatrice Mitchell as one of the Top U.S.A Women Dealmakers. The annual award honors and profiles the most accomplished women dealmakers from the United States transactional community.  This year, Beatrice was one of eighteen who won the coveted “Golden Woman” accolade at the recognition ceremony in Washington, D.C.

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Philip Dytko Promoted to Senior Associate

We are pleased to announce the promotion of Philip Dytko to Senior Associate.

 

 

Philip Dytko, Senior Associate

B.A. Dartmouth College

Philip Dytko is responsible for company, transaction, and market analysis for potential and current clients, as well as supporting the overall sale process. Prior to joining Sperry, Mitchell & Company, Philip worked for Brookwood Financial Partners in its Real Estate Investment and Marketing Divisions and for Nvest Financial Group, where he provided wealth management services. Philip graduated from Dartmouth College with a combined degree in Economics and Psychology.

 

Sperry Mitchell Advises Millrock Technology in its Recapitalization by Intuitis and JMC Investment

New York, NY – Millrock Technology, Inc.  (“Millrock”) of Kingston, NY, a developer of  freeze-dryers designed specifically for the pharmaceutical and biotech drug industries, has been recapitalized by Intuitis (“Intuitis”) of Rye, NY and JMC Investment LLC (“JMC”) of  New York, NY. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Millrock. T.N. Thompson, Founder of Millrock, will continue as Chief Executive Officer and remains a significant shareholder alongside Intuitis and JMC in the new equity structure.

T.N. Thompson, Founder and CEO of Millrock, said, “I am delighted to welcome high quality partners like Intuitis and JMC as new shareholders  and  board members. Their teams’ experience and aligned cultures bring new energy to support our growth and success. Our industry is booming, and with our continued focus on engineering and service, we are extremely well positioned to meet our customers’ growing needs and are better able to exceed their expectations.”

Nicolas Delcourt, Founding Partner of Intuitis, added, “In Millrock, we see an outstanding company with very talented individuals, cutting-edge technologies, and decades of operational expertise. We believe our broad experience and support can be the catalysts that help the Millrock team bring the company to the next level by further institutionalizing its operations while innovating and expanding into new markets and customers.”

Jean-Marie Painvin, Founder & CEO of JMC, said, “Millrock is a technological leader that differentiates itself with superior customer solutions and quality. This gives customers access to more reliable and easier-to-use data to enable a better freeze-drying process. We are excited to partner with Millrock and the management team to continue supporting the company’s future.”

Millrock Technology (www.millrocktech.com) is a leading developer of freeze-dryers designed specifically for pharmaceutical and biotech drug R&D and manufacturing. Using advanced lyophilization technology, Millrock’s line of freeze-dryers allow their customers to effectively and efficiently stabilize their products. 

Intuitis (www.intuitis.us) is a multi-family investment office that focuses on the lower-middle market and provides long-term equity as well as strategic guidance to its privately owned portfolio companies. Its partners boast a wide range of operational and private equity experience.

JMC Investment (www.jmc-investment.net) is a family investment office focused on investing in small and mid-sized privately owned growth companies. JMC is based in New York and seeks to invest with a long-term outlook on performance and an engaged partnership style. 

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 $10 to $450 million.

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

For the fourth 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 Wenzel Associates On Its Sale to BEI Precision

New York, NY (October 22, 2019) Wenzel Associates, Inc. (“Wenzel”) of Austin, TX has been acquired by BEI Precision Systems & Space Company, Inc. (“BEI Precision”) of Maumelle, AR, a portfolio company of J.F. Lehman & Company.  Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to Wenzel.

Wenzel Associates, Inc. (www.wenzel.com) is a leading designer and manufacturer of crystal oscillators, fixed frequency systems, integrated microwave assemblies, and synthesizers for military, space, and commercial markets. Since 1978, Wenzel has defined the state-of-the-art in ultra-low phase noise crystal oscillators, manufacturing products that are capable of highly reliable and precise performance in extreme environments. Wenzel’s Croven Crystals Division in Whitby, Ontario, supplies precision quartz resonators with extremely low noise and low sensitivity to vibration.

BEI Precision Systems & Space Company, Inc. (www.beiprecision.com) is a leader in high-accuracy positioning sensor technologies, providing advanced design, manufacturing, and testing for reliable and resilient products & systems. BEI Precision’s core product lines, which are used primarily in mission-critical defense and space applications, include optical encoder-based and resolver-based positioning systems, scanners for situational awareness requirements, and precision accelerometers. BEI Precision is headquartered in Maumelle, AR with an operating subsidiary in Edinburgh, Scotland and has a longstanding track record of technological innovation, with corporate roots dating back to 1862.

J.F. Lehman & Company (www.jflpartners.com) is a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors. The firm has offices in New York and Washington D.C.

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 $10 to $450 million.

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Sperry Mitchell Advises Automated Cells & Equipment On Its Sale to Aloi

New York, NY (April 29, 2019) – Automated Cells & Equipment, Inc. (“ACE”) of Painted Post, NY has been acquired by Aloi Materials Handling & Automation, LLC (“Aloi”) of Rochester, NY, a portfolio company of Wincove Private Holdings. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to ACE.

Automated Cells & Equipment, Inc. (www.autocells.com) is a leading provider of factory automation and robotic solutions serving a diverse range of industries. ACE is an authorized integrator of FANUC robots and specializes in providing advanced, turnkey factory automation solutions that require significant design, engineering, and programming.

Aloi Materials Handling (www.aloi.com) is a leading materials handling equipment and solutions provider for the industrial manufacturing and warehousing markets. Aloi offers products and services for materials handling, automation, controls, robotics, inspection, and design services for a diverse client base. Aloi is headquartered in Rochester, NY, with offices in Buffalo, NY, Syracuse, NY, Raleigh, NC, High Point, NC, and Holyoke, MA.

Wincove Private Holdings (www.wincove.com) is a private investment holding company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs and management teams to build market-leading companies. With offices in Boston and New York, Wincove has a permanent capital base and can therefore stay invested in its partner companies over an unlimited time horizon.

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 $10 to $450 million.

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Robotics Industries Association