P&M Corporate Finance (“PMCF”) Distribution Group
PMCF is a leading middle market investment bank serving family-owned, private equity, and corporate clients in the distribution sector. Our Distribution Group is active across a variety of distribution sectors, having completed transactions with leading companies including FCx Performance, W.W. Grainger, Winsupply, Dicom Transportation, and Federal Resources Supply, among others. Our team has amassed an exceptional track record of closing transactions for our clients by our relentless focus on client advocacy while leveraging our experience and relationships with distribution industry contacts. We bring a wealth of knowledge and creativity to our processes to ensure our clients are securing an optimal outcome in what is often times the most significant transaction they will undertake in their lifetime.
PMCF is an established firm founded over 25 years ago. Today, PMCF has over 20 investment banking professionals located in Chicago, Illinois and Detroit, Michigan. In addition, PMCF is a founding partner of Corporate Finance InternationalTM, which has 32 offices globally and ~200 investment banking professionals. PMCF specializes in offering sell-side, buy-side and capital raising advisory services to family-owned, private equity, and corporate clients across dedicated industry teams, including Distribution, Industrial Manufacturing, Plastics & Packaging, Business & Technology Services, and Medical Technology. We specialize in transaction sizes ranging from $20 million to $250 million of enterprise value. PMCF is affiliated with Plante & Moran PLLC, one of the U.S.’s largest professional services firms. Our affiliation with Plante Moran allows our team to bring a deep bench of additional specialized resources (e.g., M&A tax) to a transaction.
Member FINRA / SIPC
D&D Ingredient Distributors
P&M Corporate Finance, LLC (“PMCF”) served as the exclusive investment banker to D&D Ingredient Distributors (“D&D”) in its sale to the Swanson Family of Companies, which includes Associated Feed & Supply (“AFS”), Nutriusm and Virtus Nutrition (collectively “Swanson”). D&D is a family-owned, value-added provider of custom pre-mix blends and ingredients to the feed and pet food industries.
PMCF served as the exclusive financial advisor to Andronaco Industries (“Andronaco”) in its sale to EagleTree Capital (“EagleTree”). Andronaco is a vertically integrated designer, manufacturer, and distributor of high-performance specialty polymer and composite-engineered, corrosion-resistant flow control products for the chemical, water & wastewater, pharmaceutical, utilities, energy and other high-purity industries. The Company employs a vertically integrated manufacturing and distribution strategy to produce and market its unique suite of branded products across markets and applications. This model combined with its superior performing technologies has led to a market leading position and a global footprint.
Integrity Express Logistics
P&M Corporate Finance, LLC (“PMCF”) served as the exclusive investment banker to Integrity Express Logistics, LLC (“IEL”) in its sale of a minority interest to EVE Partners, LLC (“EE”). IEL is a leading asset-light provider of third-party logistics (“3PL”) services across the United States, Canada, and Mexico. The Company services nearly every end market of the economy, providing full truckload, less-than-truckload, dry van flatbed/heavy haul, intermodal, and specialized rail transport logistics support, with special expertise in refrigerated transport. IEL has evolved into one of the fastest growing 3PL companies in North America, ranking #27 on the Transport Topics 2020 Top 50 list of largest logistics companies in North America.
PMCF served as the exclusive investment banker to Montway, Inc. (“Montway”) and Ship.Cars (collectively, the “Company”) in their sale to AEA Investors LP (“AEA”). Montway and Ship.Cars combine to offer leading automotive logistics solutions to consumers, auto haulers, and vehicle shippers across North America. Montway is an asset-light, technology-enabled vehicle broker. It was founded to provide a user-friendly, hassle-free, and reliable platform for individual consumers to transport their vehicles. Montway’s service-oriented culture and technology-backed solutions provided by the Ship.Cars technology platform have propelled it to become one of the fastest growing vehicle transport brokers in the United States.
Forberg Scientific, Inc.
P&M Corporate Finance, LLC (“PMCF”) served as the exclusive financial advisor to Forberg Scientific, Inc. (“Forberg”) in its sale to Kendall Electric, a member of the Kendall Group. Forberg is an established distributor and manufacturer’s representative to the process control and instrumentation marketplace. Forberg’s reputation as a trusted distribution partner has allowed it to build a strong line card, including the most prominent suppliers within the industry.
Hosco Fittings, Classic Precision, and Integrated Dispense Solutions
PMCF served as the exclusive financial advisor to Hosco Fittings (“Hosco”), Classic Precision (“CP”), and Integrated Dispense Solutions (“IDS”) in their sale to Carlisle Fluid Technologies, a division of NYSE-listed Carlisle Companies, Inc. (“Carlisle”). Hosco is a manufacturer of precision stainless steel fluid handling components designed for high volume, high purity paint circulating and application finishing systems. CP specializes in close tolerance machining of super alloy components for the aerospace and defense markets. IDS designs and manufactures dispensing solutions for precision applications of high viscosity materials.
Ann Arbor Distribution / Advanced Distribution
P&M Corporate Finance, LLC (“PMCF”) served as the exclusive financial advisor to Ann Arbor Distribution / Advanced Distribution (“AAD”) in its sale to Dicom Transportation Group (“Dicom”), a portfolio company of Wind Point Partners. AAD is a provider of value-added logistics and delivery services offering dedicated pool-point distribution, less-than-truckload transportation, inbound and outbound logistics, and warehouse management services to customers throughout the Midwest and Great Lakes Regions. AAD leverages a network of strategically positioned distribution centers to serve a blue-chip customer base that spans retail, healthcare and other end markets.
Corrosion Fluid Products Corporation
PMCF is pleased to announce that it served as the exclusive financial advisor to Corrosion Fluid Products Corporation (“CFP”) in its sale to FCX Performance, Inc. (“FCX”), a portfolio company of Harvest Partners. CFP is a specialty regional distributor of pumps, valves, fiberglass and specialty lined pipe, hose & fittings to the process markets. In addition, CFP operates an extensive repairs business, providing its approximately 2,500 customers with a full suite of value-added distribution and repair services. Corrosion’s extensive product line spans nearly 900 vendor relationships, including primary distributor relationships with Flowserve, Resistoflex, Pureflex, and Sundyne, among others.
E&R Industrial Sales, Inc.
P&M Corporate Finance (PMCF) is pleased to announce that it served as the exclusive financial advisor to E&R Industrial Sales, Inc. (E&R) in its sale to W.W. Grainger, Inc. (NYSE: GWW). E&R is a full-line distributor of metalworking, MRO and production supplies with 18 locations throughout the United States. E&R provides more than 100,000 products to over 4,000 customers in a variety of industries, including aerospace, automotive and general industrials. The acquisition blends the extensive technical expertise of E&R with the global supply chain of Grainger. Specifically, the combination supports Grainger’s strategy of expanding its technical offering to customers while providing E&R with a global footprint.
P&M Corporate Finance (“PMCF”) is pleased to announce that its client Biblica, Inc. (“Biblica”) has sold its distribution division, Send The Light Distribution (“STLD”), to a group of the division’s management team. Biblica is a global Bible ministry serving more than 55 countries worldwide. When Biblica announced its plans to sell STLD, it hired PMCF to assist with a review of strategic alternatives for the division. PMCF worked closely with Biblica throughout the process, resulting in a highly successful and beneficial outcome for both sides of the transaction. As a result of the transaction, Biblica is able to focus on its core ministry operations, while the new owners of STLD can focus on leveraging its strong foundation while serving the needs of its retail partners and vendors.
PMCF covers all sectors of the Distribution and Logistics industry sectors. Please follow the link below to download its most recent quarterly Industrial Distributor M&A Pulse publication:
PMCF Industrial Distributor M&A Pulse Subscribe
PMCF Industry Newsletters Here
Joe Wagner is a Managing Director with PMCF and co-leads the firm’s Industrials team. He has more than 20 years of investment banking experience advising his clients on buy side and sell side M&A advisory, shareholder recapitalizations, leveraged and management buyouts, and the private placement of senior and subordinated debt. He specializes in advising businesses that serve the distribution and logistics markets, with specific sector experience in automotive, capital equipment, food & beverage, metals, precision components. Joe’s clients include domestic and international privately-held businesses, publicly-listed companies, and private equity groups. He has completed more than 75 transactions totaling more than $5 billion in value during his investment banking career.
Joe began his investment banking career as an Analyst at PMCF. Over his tenure at the firm, he was promoted several times, advancing to his current role as Managing Director, focusing on the Industrials sector with a specific focus on the distribution industry. Joe has authored numerous M&A reports for a variety of sectors, with a focus on industrial distribution and food & beverage. He is a frequent speaker at events focused on distribution, industrials, and entrepreneurial growth, providing insight into the M&A market. In addition, Joe has been a featured author and podcaster for several industrial trade publications.
Joe earned a BBA with an emphasis in finance from the Stephen M. Ross School of Business at the University of Michigan and an MBA from the Kellogg School of Management at Northwestern University, graduating with Beta Gamma Sigma honors. He is a licensed securities representative holding his Series 7, 63, and 24 registrations.
Ellen Clark is a Managing Director of PMCF and co-leads the firm’s Industrials team. She has over 27 years of transaction advisory experience, having advised public and private companies on mergers, acquisitions, corporate carve-outs and divestitures, capital raising, financial advisory, and cross-border transactions. Her clients span across various industries, including automotive, industrial, specialty chemical, software, and business services. In total, Ellen has completed more than 100 transactions totaling more than $5 billion in value during her investment banking career.
Ellen was previously a Managing Director and one of the founding partners of Greenwich Capital Group. Here she focused on mergers & acquisitions, capital raising, and financial advisory. Prior to Greenwich Capital Group, Ellen spent 16 years at Deloitte Corporate Finance, where she led the US Automotive group, was a leader of the Global Automotive team, and was the lead Managing Director of the Detroit office. She has authored numerous automotive M&A industry publications and a frequent speaker at various industry events. Ellen currently serves on the Advisory Board for the Department of Finance at the Mike Ilitch School of Business at Wayne State University.
Ellen earned a BA with an emphasis in economics and management from Albion College and recently completed Deloitte’s Board Ready Women Program. She is a licensed securities representative holding her Series 7, 24, and 63 registrations.
Eddie Zukowski is a Vice President of the firm’s Industrials team, with deep experience in the industrial distribution sector. He has more than seven years of professional experience advising clients on buy side and sell side M&A transactions, recapitalizations, and transaction planning assessments. Eddie has extensive experience across multiple industry segments, including automotive, industrial distribution, metals & manufacturing, and transportation & logistics.
Prior to joining PMCF, Eddie worked at Ernst & Young Capital Advisors and Doeren Mayhew Capital Advisors, focusing on middle market transactions. He earned a BBA in both finance and accounting from the Seidman College of Business at Grand Valley State University. Eddie is a licensed securities representative holding his Series 82, 79, and 63 registrations.