Mirus Capital Advisors 2017 Review
Valuing Accomplishment in 2017
2017 was an active and exciting year for Mirus Capital Advisors. We closed eight middle-market M&A transactions, in addition to supporting clients with valuation and advisory services. Our industrial team closed three transactions for distribution and manufacturing companies. Our professional services team has closed multiple deals in the facility services industry and our healthcare team is advising clients ranging from medical devices to clinical laboratories.
Competition among buyers remains high, as both strategic and financial investors have significant capital to deploy in M&A. We continue our focus on closely-held businesses in the $10 million to $150 million range and we’ve seen a wide range of transaction opportunities and situations this past year, from leading medical device providers, innovative manufacturing and distribution companies, to established service organizations. 2018 clients ranged from small public companies to closely-held companies with three to 30 shareholders, to single-shareholder businesses. Mirus continues to see a high level of activity in the middle-market and enters the year with a healthy level of transactions in process and active M&A discussions on behalf of our clients. We’re proud of what we and our clients accomplished this past year and are looking forward to an even more productive 2018!
Representative Transactions
HEALTHCARE
Mirus acted as the exclusive financial advisor to Belmont Instrument Corporation in its recapitalization with Audax Private Equity. Belmont is a technology leader in rapid infusion systems used to treat critically injured patients experiencing material blood loss. Audax partnered with Belmont’s private owners in connection with the recapitalization to accelerate growth by continuing investment in new product development and global marketing and sales force expansion, and through acquisition of complementary critical care and patient warming medical technologies.
The Mirus healthcare team sees increasing activity in the sector in 2018 and is currently working on engagements ranging from contract discovery, to diagnostic labs and biomaterials.
INDUSTRIAL
The sale of AIC to LeBaronBrown Industries. AIC is a leading specialty chemical and ingredients distributor that was acquired by LeBaronBrown, a private investment firm with a multi-decade investment orientation. AIC joins Charkit Chemical Company LLC, acquired in June of 2017, under the same parent company.
Simon Brown and Matt LeBaron, co-founders of LeBaronBrown, stated “We are thrilled by the addition of AIC to the LeBaronBrown platform. The company’s high-quality, multi-decade performance history and reputation as a premier specialty chemical and ingredients provider made it an ideal choice. We look forward to the opportunity to provide resources and support to the existing management team to fuel continued growth.”
2017 also saw Mirus advising The New Can Company, a leading manufacturer of filtration components, in the sale of the company to Falls Stamping & Welding and Advanced Signing LLC, a leading architectural signage company based in Medway, in its acquisition by Poblocki Sign Company, a portfolio company of TJM Capital Management.
FACILITY SERVICES
Other recent activity in the facility management industry includes the recapitalization of FleetLogix by Striker Partners, in order to pursue growth in the market for managed labor and logistics solutions to rental car companies, as well as the sale of test & certification provider B&V Testing, a provider of cleanroom and controlled environmental testing and our current representation of a leading commercial cleaning company in the metro Boston area.
Mirus also closed technology and resort deals in 2017, including the sale of ROC IT Solutions, a leader in intelligent data capture in the pharmaceutical supply chain, to TraceLink, and the recapitalization of Lookout Associates, LLC, the operator of the Lookout Pass ski area.