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Industrial Products Investment Banking Team

Matrix has been successfully representing industrial manufacturers and service companies since 1988. We have in-depth knowledge and extensive merger & acquisition experience in the automotive aftermarket industry, including working with tire, auto care and quick lube automotive distribution & service companies, as well as companies in the marine products, components, and outdoor recreation sectors. We also have expertise working with manufacturers of air handling equipment, aviation & aerospace equipment, factory automation equipment, filtration products & equipment, engineered textiles, machine tools and metals & alloys.

Recent Transactions

Our industrial products investment banking team has closed many transactions ranging from low-volume, highly engineered products to high-volume commodity parts and components. Our understanding of manufacturing processes, distribution, end markets, commodity prices (metals and resins) and value added services allow us to see beyond the cash flow, equipment and customers associated with an industrial firm and zero-in on the value drivers that get strategic buyers or equity sponsors excited about your business.

Other industry experience includes industrial controls, industrial gases, mining and infrastructure, packaging, plastics, pumps, specialty films and store fixtures.

We are a member of the following association: PEI

 

 

What our Clients Are saying

  • “My partners and I have been extremely impressed with the Matrix Team’s performance throughout the entire process. The professionalism and work ethic they displayed were exemplary.”

    Jim Eberle, President and CEO
    MXL Industries, Inc.
  • “Matrix did a fantastic job in managing a complex sale process.  Their entire team was diligent, responsive, and extremely hard-working. We appreciate their efforts and look forward to future opportunities to work together.”

    Barbie Spear, Managing Director of Alliance Holdings
    Spencer Turbine
  • “The AWG brand is nationally recognized for excellent customer service, loyalty to employees, and above all else operating with integrity.  I can’t think of a better partner to help Bestway’s employees usher in this next phase of growth. The team at Matrix has been exceptional in every respect.  The level of service and support I received was incredible, and they were able to create immense value for my business during the transaction process.”

    Ernest “Cotton” Speed, III, President
    Medical Gas Supply, LLC d/b/a Bestway Welding Supply
  • “After more than 68 years as a family-owned business in the marine industry, we are incredibly pleased to partner with Patrick which will continue to support the G.G. Schmitt team and our plans for continued growth and expansion.  We are excited to be a part of the Patrick family of brands and are looking forward to the next phase of executing on the many strategic initiatives and opportunities in front of us. We couldn’t have asked for a better representative than the Matrix team during this critical process.  Their transactional expertise matched with their knowledge of the marine sector were instrumental in helping us achieve this outcome.  We are so appreciative of all of their efforts.”

    Ron Schmitt, Chief Executive Officer
    G.G. Schmitt & Sons, Inc.
  • “We are thrilled with the outcome of this transaction and what it means for [RESCO CEO] Mike Bourn and his tremendous team.  We’ve enjoyed our partnership with Mike over the past six-plus years and have the utmost confidence that RESCO’s employees and valued customers will yield significant benefits as a result of this transaction.” Regarding Matrix’s services, Mr. Moore added, “Matrix assisted RTK in acquiring RESCO in 2012 and we couldn’t be more pleased to have utilized their services again in this transaction.  The team was extremely professional throughout the engagement and ensured that the ultimate outcome was beneficial for all constituents.”

    Jeff Moore, Principal and Founder of RTK
    Richmond Electric Supply Co., LLC

Industrial Transactions

  • CLIENT
  • Client Description
  • Transaction Description
  • TYPE
  • Client Location
  • DATE
  • CLIENT: MXL Industries, Inc.
  • Client Description: Manufacturer of high-quality optical plastic products
  • Transaction Description: Advised on the sale of the company to Plaskolite LLC, a portfolio company of Pritzker Private Capital
  • TYPE: Company Sale
  • Client Location: Lancaster, PA
  • DATE: June 2022
  • CLIENT: Spencer Turbine
  • Client Description: An independent manufacturer of high-quality solutions for air and gas handling
  • Transaction Description: Advised on the sale of the company to Howden, a portfolio company of KPS Capital Partners, LP
  • TYPE: Company Sale
  • Client Location: Windsor, CT
  • DATE: October 2021
  • CLIENT: Walker Magnetics Group, Inc.
  • Client Description: A globally recognized manufacture of highly engineered industrial magnetic products
  • Transaction Description: Advised on the sale of the company to Industrial Magnetics, Inc., a portfolio company of DNS Capital, LLC
  • TYPE: Corporate Carve Out
  • Client Location: Windsor, CT
  • DATE: March 2021
  • CLIENT: Medical Gas Supply, LLC d/b/a Bestway Welding Supply
  • Client Description: A leading distributor of industrial and specialty gases throughout Texas
  • Transaction Description: Advised on the sale to American Welding & Gas, Inc.
  • TYPE: Company Sale
  • Client Location: Houston, TX
  • DATE: September 2020
  • CLIENT: G.G. Schmitt & Sons, Inc.
  • Client Description: Premier designer and manufacturer of customized hardware and structural components to major OEMs in the marine industry
  • Transaction Description: Advised on the sale to Patrick Industries, Inc. (NASDAQ: PATK)
  • TYPE: Company Sale
  • Client Location: Lancaster, PA
  • DATE: September 2019
  • CLIENT: Richmond Electric Supply Co., LLC
  • Client Description: A full-line, stocking electrical wholesale distributor that serves commercial contractors, government and military agencies, residential contractors, and industrial and OEM markets on a regional and national scale
  • Transaction Description: Advised on the sale to Locke Supply Co.
  • TYPE: Company Sale
  • Client Location: Richmond, VA
  • DATE: July 2019
  • CLIENT: Tri-State Utilities Company
  • Client Description: Provider of trenchless repair, rehabilitation, inspection, and other maintenance services to the municipal utility market; maintains long-term sewer and stormwater contracts with an enviable list of blue-chip customers making it a market leader in the Mid-Atlantic and Southeast.
  • Transaction Description: Advised on the sale to Hoffman Southwest Corp., a portfolio company of ORIX Capital Partners LLC
  • TYPE: Company Sale
  • Client Location: Chesapeake, VA
  • DATE: February 2019
  • CLIENT: Engineered Metals and Composites, Inc.
  • Client Description: A designer and manufacturer of custom marine towers, frames and other fabricated component products
  • Transaction Description: Advised on the sale to Patrick Industries, Inc. (NASDAQ: PATK)
  • TYPE: Company Sale
  • Client Location: West Columbia, SC
  • DATE: September 2018
  • CLIENT: NEMO Oil Company
  • Client Description: A leading lubricants distributor to customers throughout New England
  • Transaction Description: Advised on the sale to a subsidiary of a publicly-traded company
  • TYPE: Company Sale
  • Client Location: Lawrence, MA
  • DATE: June 2018
  • CLIENT: Narcote, LLC
  • Client Description: A leading provider of technical textile solutions, including coated and laminated composite fabrics
  • Transaction Description: Advised on the recapitalization by LNC Partners
  • TYPE: Majority Recapitalization
  • Client Location: Piney Flats, TN
  • DATE: July 2015
  • CLIENT: Area Equipment Sales & Rentals
  • Client Description: A premier full-line equipment rental company, serving the Eastern Virginia and Northeastern North Carolina markets
  • Transaction Description: Advised on the sale to Blue Line Rental, a portfolio company of Platinum Equity
  • TYPE: Company Sale
  • Client Location: Chesapeake, VA
  • DATE: April 2015
  • CLIENT: Southern Filter Media LLC
  • Client Description: A leading manufacturer and distributor of wet and dry environmental filtration products and a portfolio company of GenCap America
  • Transaction Description: Advised on the sale to Micronics, a portfolio company of Vance Street Capital LLC
  • TYPE: Company Sale
  • Client Location: Hixson, TN
  • DATE: December 2014
  • CLIENT: Stevens Manufacturing Co., Inc.
  • Client Description: A leading supplier of high-quality precision parts, flight-critical components and complete sub-assemblies to the aerospace industry
  • Transaction Description: Advised on the transition to J.H. Whitney & Co.
  • TYPE: Majority Recapitalization
  • Client Location: Milford, CT
  • DATE: August 2014
  • CLIENT: Banker Steel Company
  • Client Description: A leading fabricator of structural steel components used in commercial and infrastructure projects, with a production capacity of 50,000 tons of steel per year
  • Transaction Description: Advised on the recapitalization by Atlas Holdings and Turnspire Capital Partners
  • TYPE: Majority Recapitalization
  • Client Location: Lynchburg, VA
  • DATE: August 2014
  • CLIENT: Butler Woodcrafters, Inc.
  • Client Description: A leading manufacturer of institutional furniture for the education and human services markets, and one of the largest manufacturers of seating products for the worship, healthcare and education markets
  • Transaction Description: Advised on the sale to Sauder Manufacturing Co., a subsidiary of Sauder Woodworking Company
  • TYPE: Company Sale
  • Client Location: Richmond, VA
  • DATE: January 2014
  • CLIENT: Dimex LLC
  • Client Description: A leading plastics manufacturer serving diverse markets, including industrial matting, landscaping, marine products, masonry construction, and office chair mats, and a portfolio company of The Brookside Group
  • Transaction Description: Advised on the sale to Grey Mountain Partners
  • TYPE: Majority Recapitalization
  • Client Location: Marietta, OH
  • DATE: December 2013
  • CLIENT: Richmond Electric Supply Co., Inc.
  • Client Description: Operates as a full-line, stocking electrical wholesale distributor that serves commercial contractors, the government & military, residential contractors and industrial & OEM markets on both a regional and national scale
  • Transaction Description: Advised on the management buy-in led by CEO Mike Bourn and a Private Investment Group
  • TYPE: Buy-Side Advisory
  • Client Location: Richmond, VA
  • DATE: December 2012
  • CLIENT: Energy US Propane, a North American Propane Company
  • Client Description: A leading retail and wholesale distributor of propane, distillates and industrial gases throughout the Northeast and Mid-Atlantic
  • Transaction Description: Advised on the sale to NGL Energy Partners LP (NYSE: NGL)
  • TYPE: Company Sale
  • Client Location: Taunton, MA
  • DATE: February 2012
  • CLIENT: Stalcop LP
  • Client Description: A leading manufacturer of custom designed cold formed and precision machined components and sub-assemblies, serving a variety of end markets, including the power semiconductor, automotive, power transmission & distribution, heavy duty truck, specialty battery, ordinance and ammunition markets
  • Transaction Description: Advised on the growth and recapitalization investment by Alpha Capital Partners
  • TYPE: Majority Recapitalization
  • Client Location: Thorntown, IN
  • DATE: April 2010

Industrial Press Releases

  • June 7, 2022 -
    Matrix Announces the Sale of MXL Industries, Inc.

    RICHMOND, VA / BALTIMORE, MD – June 7, 2022 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of MXL Industries, Inc. (“MXL” or the “Company”), a manufacturer of high-quality optical plastic products, to Plaskolite LLC (“Plaskolite”), a global leader in […]

  • October 5, 2021 -
    Matrix Announces the Successful Sale of Spencer Turbine

    RICHMOND, VA/BALTIMORE, MD – October 5, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of Spencer Turbine  (the “Company”) to a wholly-owned subsidiary of Howden Group Limited (“Howden”), a portfolio company of KPS Capital Partners, LP (“KPS”).   Spencer Turbine […]

  • March 1, 2021 -
    Matrix Announces the Successful Sale of Walker Magnetics Group, Inc.

    RICHMOND, VA/BALTIMORE, MD – March 1, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of Walker Magnetics Group, Inc. (“Walker Magnetics” or the “Company”) to Industrial Magnetics, Inc. (“IMI”), a portfolio company of DNS Capital, LLC (“DNS”).  Prior to […]

  • February 11, 2021 -
    Matrix 2020 Year In Review

    We sincerely hope that you and your families are well and safe. 2020 will certainly be a year we will always remember. None of us could have imagined all the difficulties we would be facing: a pandemic that spread quickly throughout the world; businesses closed; family and friends unemployed; remote […]

  • January 22, 2021 -
    Matrix is Moving!

    RICHMOND, VA/BALTIMORE, MD – January 22, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the relocation of their downtown Richmond headquarters from James Center II to Gateway Plaza, effective February 1, 2021.  Their new address will be:  Gateway Plaza, 800 East […]

  • January 15, 2021 -
    Matrix Announces Promotion

    RICHMOND, VA / BALTIMORE, MD – January 15, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the promotion of Matt C. Oldhouser, CPA to Associate. Mr. Oldhouser has been a member of Matrix’s Consumer & Industrial Investment Banking Group since 2019.  […]

Industrial Team@

David W. Shoulders

Head of Consumer & Industrial Investment Banking, Managing Director dshoulders@matrixcmg.com (804) 591-2034

David is Head of the Consumer & Industrial Investment Banking Group.  He has many years of financial and merger & acquisition advisory experience and has managed a variety of transactions with privately-held, middle-market companies since joining Matrix in 2006. In addition to his general experience in manufacturing, distribution, and service industries, David has specific expertise with automotive aftermarket, building products, staffing, metals, aerospace, outdoor recreation, retail and forest products.   His current responsibilities include the origination and execution of sell-side M&A engagements, capital raising and private placements, as well as general advisory assignments for both privately owned and publicly traded companies. He has been instrumental in successfully closing numerous transactions, including Connecticut Warehouse Distributors, Inc., Quality Assurance Services, Inc., Narcote, LLC, Area Equipment Sales & Rentals, Budget Signs, LLC and Southern Filter Media, among others. Prior to joining Matrix, David worked for Stifel Nicolaus’ Aerospace, Defense & Government Services Investment Banking practice in Baltimore, Maryland where his experience included a variety of mergers, acquisitions, and public offerings. David graduated from the College of William and Mary where he received a B.B.A. in Finance with a concentration in accounting. He is also qualified as a FINRA General Securities Representative (Series 7), General Securities Principal (Series 24), Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).

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William J. O’Flaherty

Director woflaherty@matrixcmg.com (804) 591-2053

William is a member of the Consumer & Industrial Investment Banking Group and is responsible for new client development and co-managing all aspects of client transactions including company sales, corporate carve outs, capital raises, recapitalizations, restructurings, valuations, strategic planning, and assisting clients with acquisitions of target companies. Prior to joining Matrix in 2011, William was a member of Wells Fargo Securities’ Industrials investment banking team in New York. His experience there included a variety of mergers, acquisitions, and public offerings for transportation and packaging clients. William graduated from the University of Virginia’s McIntire School of Commerce where he received his B.S. in Commerce with a concentration in finance. He is also qualified as a FINRA Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).

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Matt C. Oldhouser, CPA

Senior Associate moldhouser@matrixcmg.com (804) 591-2040

Matt is a member of the Consumer & Industrial Investment Banking Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financial models, and preparing selling and private placement memoranda. Prior to joining Matrix in 2019, Matt was a Senior Audit Associate at Grant Thornton, LLP. Matt received a B.S. in Business Administration with concentrations in Finance and Accounting, and graduated cum laude from the University of South Carolina. He holds the Certified Public Accountant designation and has successfully completed the Level I CFA. He is qualified as a FINRA Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).      

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Sahan Pandey

Senior Analyst spandey@matrixcmg.com (804) 591-2052

Sahan is a member of the Consumer & Industrial Investment Banking Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financial models, and preparing selling and private placement memoranda. Prior to joining Matrix in 2021, he was an FP&A Financial Analyst at Markel Corporation. Sahan received a BA in Statistics with a concentration in Econometrics from the University of Virginia. He has successfully completed the Level I CFA. He is currently qualified as a FINRA Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).

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