Manufacturing & Distribution

Manufacturing and distribution companies are cornerstones of the economy, and the professionals at Shields & Company have a very strong background in providing advisory services to a variety of companies and verticals in this space. Our professionals have specific experience in the following areas: flexible packaging, food and non-food distribution, machinery, paper manufacturing and converting, and electrical and electronic components. This combination of deep industry knowledge and a long track record of successful transactions and valuations have enabled Shields & Company to provide its clients with unmatched advice.

Mergers & Acquisitions

Boston Pipe & Fittings

Established in 1918, Boston Pipe & Fittings is the Boston area’s most-respected go-to supplier for pipes, valves, fittings, boilers, and accessories. Independent Pipe and Supply’s merger with Boston Pipe will dramatically enhance its ability to truly serve the Boston market.

Shields & Co. represented and advised Boston Pipe & Fitting in the transaction.

Integrity Mold Inc.

Integrity Mold is a leading supplier of custom injection molding and tooling services for customers with highly engineered plastic components. Founded in 2005 and headquartered in Tempe, Arizona, Integrity Mold serves customers across diverse end markets, including the medical, consumer durables, transportation and construction industries who share high standards for excellence in product quality, precision engineering, production efficiency and on-time delivery.

Montage Partners invested in Integrity Mold in December 2015 in a recapitalization in partnership with the Company’s founders and management, which included providing capital for Integrity to accelerate investments in state-of-the-art equipment and talented team members that will support the Company’s continued growth.

Shields & Co. represented and advised Integrity Mold in the transaction.

American Engineered Components, Inc.

The Harding Group retained Shields & Company to assist the company in targeting potential strategic acquisitions. The process resulted in the company purchasing the Industrial Fasteners Division of TRW, Inc., one of the world's largest automotive suppliers. The Harding Group renamed the non-core division American Engineered Components, developing it into a leading designer and manufacturer of complex, custom designed stamped metal components.

Beacon Sales Holding Company, Inc.

The Beacon Sales Holding Company, Inc., New England's leading independent distributor of residential roofing products, retained Shields & Company to marketing the company to a diverse set of potential acquirers and to assist shareholders in achieving liquidity. The result of the process was the sale of the Company to an investor group consisting of Code, Hennessey & Simmons, and members of management, while enabling the majority shareholder to continue with significant ownership of the new entity.

Bellesteel Industries, Inc.

Bellesteel Industries, Inc., an East Boston, Massachusetts-based metal product processor and distributor, retained Shields & Company to assist in its sale to a strategic acquirer. The result of the sale process was the acquisition of the company's operating assets by Edgcomb Metals Company, a wholly-owned subsidiary of Macsteel Service Centers USA, one of the industry's leading metal processors and distributors. The company's assets and customer base combined with Edgcomb's modern facility in New Hampshire to support Bellesteel Industries' continued growth in the area.

Berkshire Manufactured Products, Inc.

Berkshire Manufactured Products, Inc., a manufacturer of precision stamped and machined metal parts for the aerospace industry, retained Shields & Company to identify a suitable acquirer and meet the liquidation objectives. The process resulted in the company's sale to Waverly Partners, a Pennsylvania-based investment firm. The transaction transcended shareholders liquidation objectives and enabled Berkshire Manufactured Products to continue operating from its Newburyport, Massachusetts facility.

AGAR

Shields & Co. negotiated and facilitated a successful sale of AGAR Supply Co., Inc. to Reinhart Foodservice, LLC, one of the most progressive and efficient broadline foodservice distributors in the United States. The company provides fresh produce, proteins, ingredients, supplies and equipment to customers across the U.S. from 27 state-of-the-art distribution centers.

Agar Supply Co, Inc., based in Taunton, Massachusetts, is New England’s largest independent food distributor and the twelfth largest in the United States. AGAR offers a wide range of solutions for the food service industry. The company is New England’s premier supplier of meats, poultry, seafood and grocery items as well as dairy products, non-perishables, non-food items, janitorial supplies and small wares. AGAR distributes popular national brands along with being the exclusive distributor of the Nautifish® Seafood brand and the portion cut marinated meats and poultry brand Bull Pen®.

Shields & Co. represented and advised AGAR Supply Co., Inc. in the transaction.

Cole Hersee Company

Cole Hersee Company, a Boston, Massachusetts-based leader in the development of heavy-duty electrical products for the off-road, truck and bus (OTB) industry, retained Shields & Company to assist and advise the company in anticipation of its sale to Littelfuse, Inc., the worldwide leader in circuit protection. The acquisition will allow Cole Hersee to bring new products and capabilities to its customers and provide new opportunities for growth and, at the same time, enables Littelfuse to expand its OTB business and distribution network and strengthen key customer relationships.

Chi-Vit Corporation

The Board of Directors of the Chi-Vit Corporation, a manufacturer of metallurgical powders and fluxes and porcelain enamel coatings, retained Shields & Company to identify a suitable acquirer of certain company assets. CV Materials, Ltd., a company formed by MCM Capital Corporation, a private investment firm based in Cleveland, and Mr. F. Thomas Krotine, also of Cleveland, purchased the nominated assets of the Chi-Vit Corporation.

Custom Coating & Laminating Corporation

Custom Coating & Laminating Corporation, a Worcester, Massachusetts-based manufacturer of release films and tapes, retained Shields & Company to assist the company in its sale to the Furon Company, the world's leader in the design and manufacture of specialized polymer components.

Eastern Acoustic Works, Inc.

Eastern Acoustic Works, Inc., a manufacturer of loudspeakers, retained Shields & Company to find a suitable acquirer to provide liquidity for the shareholders and allow the company to continue its impressive growth. Eastern Acoustic Works was acquired by Mackie Designs, Inc., a public professional audio equipment manufacturer located in Woodinville, Washington. The deal provided excellent prospects for growth within Mackie while allowing the company to remain in its Whitinsville, Massachusetts headquarters.

Extek, Inc.

EXTEK, Inc., a manufacturer of hydraulic screen changers, retained Shields & Company to advise the company in its exploration of potential acquirers. The sale process resulted in EXTEK's acquisition by the Dynisco Companies, a subsidiary of the Berwind Group and a leading provider of pressure and temperature sensors and analytical instruments. EXTEK was

Cricket Productions, Inc.

Cricket Productions, Inc., a catalog and mail-order wholesaler and distributor of electric houseware, retained Shields & Company to facilitate an exclusive distribution agreement for its Faraday Flashlight family of products with Spectrum Brands, Inc., a leading global distributor of various electronic, personal care, and household consumer products. This agreement provided Cricket Productions with an attractive corporate partner in its new business expansion strategy.

The Gem Group, Inc.

The Gem Group, one of the nation's largest promotional products companies, retained Shields & Company to assist in a recapitalization of its infrastructure in anticipation of a series of targeted acquisitions. The company was able to attract substantial equity capital, allowing it to establish further position in the promotional products industry.

International Paper Box Machine Company, Inc.

International Paper Box Machine Company, Inc. retained Shields & Company to find a suitable acquirer to provide liquidity to the shareholders and continue the tradition of its family-owned business. The result of the sale process was the redemption of substantially all outstanding common shares and the acquisition of IPBM by Mr. Hugh A. McAdam and Ms. Madeline M. McAdam, descendants of the original founder. Shields & Company was successful in structuring a transaction which maximized shareholder value and also enabled certain shareholders to remain active with, and retain ownership of, the company.

Merrimac Paper Company, Inc.

Merrimac Paper Company, Inc., a manufacturer and marketer of paper and converted products, retained Shields & Company to assist in an acquisition strategy to expand its operations. The company acquired Holyoke Card & Paper Company, Inc., a supplier of high quality, customized coated covers. The transaction positioned Merrimac Paper for business expansion and continued growth.

Merrimac Paper Company, Inc.

Merrimac Paper Company, Inc., a manufacturer and marketer of paper and converted products, retained Shields & Company to assist in redeeming the stock of the company’s founding family, which desired liquidity for its majority interest in the company. Merrimac Paper Company was able to renegotiate an $11,000,000 line of revolving credit and a $14,730,000 term loan. Shields & Company was successful in structuring a transaction which would enable management to increase its ownership interest in Merrimac, as desired, and which provided liquidity for the founding family. The company was recapitalized using senior debt as well as equity capital provided by management.

Nyman Manufacturing Company

Nyman Manufacturing Company, a Rumford, Rhode Island-based leading manufacturer of paper and plastic disposable cups and tableware in New England, retained Shields & Company to assist in a potential transaction to a prospective purchaser. The company entered into a purchasing agreement with Van Leer Corporation, a manufacturer of steel, metal, and plastic containers. The deal provided significant liquidity for certain company shareholders while retaining senior managers to continue to control and build the company.

The PresMet Corporation

The PresMet Corporation retained Shields & Co. to identify a suitable acquirer to provide liquidity to the shareholders and enable the company to enhance its revenue growth and profitability. The sale process resulted in the acquisition of PresMet by GKN Sinter Metals, Inc., a wholly-owned subsidiary of UK-based GKN Plc, a global industrial company. Shields & Company was successful in negotiating and structuring a transaction that maximized shareholder value and positioned the Company for continued growth as a division of a global industrial supplier.

Rogers, Lunt & Bowlen Company

Rogers, Lunt & Bowlen Company, a manufacturer and distributor of cutlery and trade tools for the professional and retail markets, retained Shields & Company to identify a suitable acquirer for its wholly-owned subsidiary, Lamson & Goodnow Manufacturing Company, and to provide liquidity for its Lamson investment. The sale process resulted in the acquisition of the subsidiary by J. Ross Anderson, the company's president, while maximizing liquidation value for the shareholders of the Rogers, Lunt & Bowlen Company.

Rule Industries, Inc.

Rule Industries, Inc., a manufacturer of cutting tools, marine paints, and other marine products, retained Shields & Co. to identify a suitable acquirer to provide liquidity to the shareholders and enable the company to enhance its revenue growth and profitability. The sale process resulted in the acquisition of Rule by Greenfield Industries, a manufacturer of quality castings and tools. Shields & Company also rendered a fairness opinion to the company's shareholders.

StarPak, Ltd.

StarPak, Ltd., a premier supplier of plastic packaging products, retained Shields & Company to assist the company in a debt raising initiative to finance new business strategies. Through Shields & Company, StarPak was able to complete a senior debt financing of $14,243,357 with GE Capital Corporation, a leading provider of commercial lending and leasing for businesses of all sizes.

Trim-Rite Food Corporation

Trim-Rite Corporation, a leading provider of custom pork boning services to customers in the United States and internationally, retained Shields & Company to assist in a debt raising initiative. Shields & Company facilitated the company's credit negotiations, completing a $19,500,000 letter of credit and an $8,000,000 revolving line of credit. This transaction enabled Trim-Rite to more effectively pursue business growth.

Vyn-All Products Corporation

Vyn-All Products Corporation retained Shields & Company to review its range of strategic alternatives and to seek a transaction that would provide liquidity to certain shareholders while supporting the Company's continued growth. The process resulted in the company's merger with Prairie Capital's Oregon-based portfolio company, Plastimayd LLC. The transaction effectively combined two of the industry's largest national suppliers of in-ground vinyl pool liners, and Vyn-All's majority shareholder group was able to achieve substantial liquidity.

The Leavitt Corporation

The Leavitt Corporation is one of the largest independent processors of nuts and peanut butter in the United States with automated processing in several production lines for roasted nuts and peanut butter. The Leavitt Corporation retained Shields & Company to assist it to structure, raise capital and to manage the recapitalization of the Company. As a result of this transaction, The Leavitt Corporation is positioned to grow and continue its local family-owned and operated business legacy.

Cri-Tech Technologies, LLC

Cri-Tech Technologies, a leading domestic manufacturer of fluoroelastomer compounds and additives, LLC retained Shields & Company to evaluate a range of strategic alternatives that would provide liquidity for its major shareholder and enable the company to strengthen its leading position on the specialty compound market. The result of the sale process was the acquisition of Cri-Tech by Daikin America, Inc., the domestic chemical division of Daikin Industries, Ltd. The transaction allowed Daikin America to further expand both its domestic and global presences.

NES Clothing Company

NES Clothing Company, a leading distributor of blank apparel to screen printers, embroiderers, and promotional product distributors, retained Shields & Company to evaluate a range of strategic alternatives to provide liquidity for its shareholders and enable it to continue its impressive growth. The company was subsequently acquired by Broder Bros., Co., the nation's largest distributor of imprintable sportswear. Bain Capital owned the majority stake in Broder and provided the equity financing for the transaction.

Workplace Modular Bench SYstems

 

Business Valuation/Fairness Opinions

Aegis Lightwave, Inc.
Avnera Corporation
Bouton Corporation
Clarity Imaging Technologies, Inc.
Crane & Company
Crocker Technical Papers
Dyco, Inc.
AAi.FosterGrant
High Voltage Engineering Corporation
National Datacomputer, Inc.
Polytop Corporation
Rule Industries, Inc.
Stronghaven, Inc.
Tech/Ops Sevcon, Inc.
Verrillon, Inc.
The Worcester Company
Lincoln Precision Machining Company
SunbriteTV LLC