Background Summit Stairs & Millwork is a premier manufacturer and wholesaler of wooden stairs, stair parts and custom millwork. Founded in 2003, the Company had grown to three locations in the Southeast, each operating at full capacity by 2022. The owner had developed deep relationships with the largest publicly-traded home builders in the US, and the company was poised to leverage those relationships into a new era of growth. After 20+ years, the owner had reached the point where additional capital and human resources were needed to take the company to the next level, and it was time to identify a strategic partner to provide both.
Background The owner engaged AE after an extensive interview process with multiple investment banks. The owner preferred our hands-on approach and experience in the industry. We pledged to run a full “Wall Street” process by building an extensive institutional buyer list, contacting potential buyers personally, and creating state of the art marketing materials. We screened interested parties using our proprietary data base, and conducted lengthy due diligence calls with strategic competitors and financial sponsors (private equity firms) in order to solicit formal letters of intent (LOI). Following selection of the most appropriate partner, we worked with the owner and buyer to put together a structured sale that maximized valuation and also included royalty payments for owner’s intellectual property. The transaction was closed in approximately 12 months and the company was sold to MBP Group (formerly Marwin).