Matrix Announces the Successful Sale of Budget Signs, LLC
RICHMOND, VA – September 27, 2016 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of Budget Signs, LLC (“Budget Signs” or the “Company”) to a Salem, Virginia-based franchisee of FASTSIGNS International, Inc. (“FASTSIGNS”). FASTSIGNS is a Carrollton, Texas-based portfolio company of Levine Leichtman Capital Partners. Matrix served as exclusive advisor to Budget Signs and the transaction was led by Mike Morrison, David Shoulders, William O’Flaherty and Pratik Thakral.
Budget Signs, headquartered in Roanoke, Virginia, is a full-service sign and crane company that fabricates, installs and services signs in western Virginia, southern West Virginia and northern North Carolina. The company has grown to become recognized as the locally-owned market leader in the geographies it serves and will continue to provide regional service and installation to its diverse customer base under FASTSIGNS’ ownership.
Ed Armentrout, President of Budget Signs commented, “We are very pleased to have transitioned the ownership of our business to a buyer committed to the continued success and long-term growth of Budget Signs. The Matrix team proved to be extremely valuable in running a highly disciplined process that identified a buyer that satisfied the objectives we were looking to accomplish.” David Shoulders, Director at Matrix, added, “It is clear that Ed and Tori Armentrout placed a tremendous amount of importance on securing the right fit for the employees of Budget Signs who helped build the business. We are thrilled that this transaction was successful for them personally and for the ongoing business culturally.”
About Matrix’s Business Services Group
Matrix’s Business Services Group merger & acquisition expertise stems from numerous engagements and extensive research in a number of segments, including call centers, marketing, printing & engraving, staffing, systems integration, tele-services, telecommunications, transportation, utility services and waste management. Team members draw upon a deep bench of transaction experience and analytical resources to successfully manage and complete a wide range of corporate finance transactions, including mergers, acquisitions, and capital raising of debt and equity.
About Matrix Capital Markets Group, Inc.
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and Chicago, IL. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies, including company sales, recapitalizations, corporate divestitures, corporate recovery, management buyouts, capital raises of debt & equity, corporate valuations and fairness opinions. Matrix has served clients in a wide range of industries, including downstream energy & retail, healthcare, industrial products, building products, lumber, consumer products and business services. For additional information or to contact our team members, please visit www.matrixcmg.com.
Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC.