Transaction Announcement

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CLIENT
Founded in 1971, The Granite Group Wholesalers, LLC (“The Granite Group” or “the Company”), serves New England residential and commercial contractors, providing exceptional service and products to plumbing, heating, cooling, water, and propane markets. Headquartered in Concord, NH, the Company’s best-in-class e-commerce and 45+ branch network is operated by expertly trained staff that offer an industry-leading customer experience. The Company serves a diverse mix of contractors and fuel dealers with a deeply ingrained, people-first culture, positioning the Company as one of the top building product distributors in the Northeast.

SITUATION
The Granite Group has long been one of the leading family-owned businesses in the Northeast. In the past few years, the Company has embarked on a strategic, thoughtful expansion across New England and within its e-commerce platform, increasing density in key markets and expanding its presence through organic branch openings and acquisitions. A meticulous approach to product line expansion has ensured strategic alignment with the Company’s customers and differentiated product knowledge. With its sustained growth, the family identified further opportunities to fast-track their vision with the right strategic growth partner.

ENGAGEMENT
G2 has served as a long-term strategic advisor to The Granite Group and as the exclusive financial advisor for this process, was responsible for leading a highly tailored and efficient transaction process for the family and Company.

OUTCOME
The transaction was successfully executed through a growth investment by BBH Capital Partners (“BBHCP”) in the equity interests of The Granite Group. The family is retaining ownership, and Bill Condron, President and CEO of The Granite Group, will continue to lead the Company, using additional resources and expertise from BBHCP to execute on a shared vision of growth.

“G2 has been our trusted advisor and partner for many years, supporting the execution of family’s and the Company’s long-term vision. Throughout this process and the duration of our relationship, G2 has been a key strategic advisor, aligning with our people-first culture, and helping us define and execute the best possible outcome. G2’s deep knowledge of our business and industry, and vision for the potential of our platform was critical to the success of this process, along with their unique ability to guide the family through a major life event,” said Bill Condron, CEO of The Granite Group.

“The exciting partnership between The Granite Group and BBHCP will supercharge the robust growth of their platform and allow them to execute their strategic vision on an accelerated timeline. We are thrilled to have had the opportunity to lead our client through to a successful outcome,” said Jeffrey Unger, CEO of G2. “Our relationship with The Granite Group is a terrific example of our strategy of acting as an industry focused trusted advisor to innovative, high growth companies.” 

The transaction will support the Company’s growth initiatives of expanding organic footprint and executing strategic acquisitions. 

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors. (www.g2cap.com

CONTACTS ON THIS DEAL:

Jeffrey Unger, Chairman & CEO: T: 617.918.7929 E[email protected]


Victoria Arrigoni, Managing Director, Industrials & Manufacturing: T: 619.742.6441 E[email protected]

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CLIENT

Granite Bridge Partners’ (“Granite Bridge”) portfolio company The InterMed Group (“InterMed” or the “Company”) is a premier provider of integrated health technology management services, offering a broad range of services to healthcare providers including inspection, preventative maintenance, corrective repair, logistics planning, and consulting. As an OEM-agnostic provider of medical equipment management solutions covering all modalities including Nuclear Medicine, Ultrasound, X-Ray, CT, MRI, DR, CR and various lab equipment, InterMed allows its clients to use a single provider for multi-modality needs instead of multiple contracts with OEMs or redundant staffing. The Company strives to enhance overall program quality, cost, and timeliness, by tailoring its services to the needs of their clients, with the speed and creativity of a smaller player, but with the professional coverage of a much larger provider.

SITUATION

Long-term industry stalwart, InterMed, joined forces with financial partner, Granite Bridge (formerly Wafra Partners) in 2015. Under the leadership of Rick Staab, InterMed established its reputation as a premium service provider and experienced strong organic growth. Following its partnership with Granite Bridge, Rick and his management team were looking to further enhance their growth through a targeted M&A strategy to deepen their service and product offerings, acquire new customers, and expand geographically into new U.S. markets.

ENGAGEMENT

The Company engaged G2 Capital Advisors, LLC (“G2”) as its exclusive buy-side advisor, leading a tailored buy-side effort focused on engaging with companies that have strong reputations for medical management and maintenance solutions across all modalities.

OUTCOME

G2’s search led to the acquisition of Modern Biomedical & Imaging, Inc. (“Modern”) which added a new location, additional capabilities, and a strong brand in the market. InterMed acquired Modern, an independent provider of equipment maintenance services to healthcare facilities in the southern region of the United States. Together these organizations will leverage their newly combined talent, service offerings and geographic footprint to deliver a more integrated solution of equipment management services to healthcare systems across the US. Rick Staab, CEO of The InterMed Group, commented “We are very excited about entering the growing Texas market and I feel that the acquisition of Modern Biomedical was the best platform for our organization as we grow throughout the southern region. We look forward to bringing together our corporate cultures and cross-selling premier equipment management services within our combined network of nationwide healthcare systems. Throughout the process, G2 has been instrumental in sourcing this acquisition candidate and supporting the transaction process as our trusted buy side advisor. G2 ran a robust and efficient process that resulted in finding a new partner in Modern Biomedical that we are thrilled to welcome to The InterMed Group family.”

“The InterMed Group will significantly benefit from its partnership with Modern Biomedical. Both organizations have excellent reputations and service minded cultures that are well known in the marketplace,” said Andrew Keleher, Vice President at G2 Capital Advisors.

About The InterMed Group:

As a premier provider of integrated health technology management services, InterMed offers an array of Health Technology Management options to its clients. From comprehensive equipment planning and administration to strategic coverage of key divisions or modalities in support of in-house, OEM, or hybrid solutions, InterMed strives to enhance overall program quality, cost, timeliness, and client confidence, by tailoring its services to the needs of their clients. InterMed’s unique Jump Team™ solutions provide skilled engineers for a wide variety of project needs. Jump Team™ services include credentialed temporary staffing, special projects, routine and project-driven PMs, compliance preparation, physical inventories, and cybersecurity assessments. InterMed also sells and services used, reconditioned, and new imaging equipment from select OEMs. (www.intermed1.com)

About Modern Biomedical & Imaging, Inc.:

Modern Biomedical & Imaging is a premier national independent provider of Healthcare Technology Management, offering comprehensive on-site medical equipment services to virtually every type of healthcare facility in several states across the country. Modern offers a fully comprehensive asset management program customized to best suit their clients’ operational and financial HTM needs. Headquartered in Irving, TX, the Company, via its top-notch services and reputation and through its contractual arrangements, has experienced steady growth by serving a well-diversified array of healthcare facilities, including hospitals, medical centers, outpatient surgery centers, clinics, and doctor offices. (https://www.modernbiomedical.com)

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

Securities offered through Hollister Associates, LLC. Member FINRA, SIPC. G2 Capital Advisors, LLC and Hollister Associates, LLC are separate and unaffiliated entities. This does not constitute an offer to buy or sell securities.

CONTACTS ON THIS DEAL:

Peter Reed, Director, Buy-side: T: 617.918.7972 E: [email protected]
Andrew Keleher, Vice President: T: 860.748.6480 E: [email protected]

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CLIENT:
Systems Control (the “Company”) is a best-in-class designer and manufacturer of customized, highly engineered control panels and electrical substation equipment enclosures for the transmission and distribution industry across North America. The Company is recognized by electric utility providers for supplying high-quality, critical components to ensure reliable operations of the electrical grid. Systems Control is headquartered in Iron Mountain, Michigan and employs over 750 people.

SITUATION:
Systems Control established aggressive growth objectives and an acquisition strategy to identify manufacturing expertise in the market that would enhance and expand utility customer relationships, broaden its geographic presence, and maintain an aligned business philosophy. With fresh capital through its financial partnership with Comvest Partners (“Comvest”) in 2018, Systems was well positioned to accelerate its growth through a disciplined acquisition strategy and explore expansion opportunities.

ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by Systems Control as the exclusive buy-side advisor to identify, source and engage with acquisition targets that fit with the Company’s end-market profile.

OUTCOME:
The definitive agreement was announced on June 21st, 2021. The acquisition provides additional capabilities and geographic scale to Systems Control’s operations.

The team at Keystone is a strong cultural fit with the Systems Control family. Both companies have similar values and approaches to providing engineering and manufacturing services. Furthermore, the additional investment in Keystone will accelerate growth, while unlocking core capabilities in a high growth market.

“We are really excited about the opportunity to partner with the Keystone team” said Brad Lebouef, CEO of Systems Control. “Keystone has a reputation for high quality products, is a great cultural fit all around, and will immediately expand our production capabilities.”
“It was a pleasure working with Systems Control and the Comvest team to help identify opportunities, build relationships, and ultimately execute a highly strategic transaction with Keystone. We look forward to watching the ongoing success of Systems as they continue to expand the platform within the electrical enclosures and systems industries,” said Michael Williams, Director at G2 Capital Advisors.

About Systems Control
Systems Control specializes in engineering and manufacturing of equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America.

About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $6.1 billion. Today, Comvest Partners has approximately $5.0 billion of assets under management. Through extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance.

About G2 Capital Advisors
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Michael Williams: Director, Industrials & Manufacturing: T: 917.523.2164 E: [email protected]
Andrew Keleher: Vice President: T: 617.918.7982 E: [email protected]
Matt Ball: Associate: T: 617.918.7933 E: [email protected]
Aaron Levy: Senior Analyst: T: 857.250.2767 E: [email protected]

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CLIENT
ArcLight Consulting, LLC (“ArcLight”), founded by Pritam Dutta, Jeff Eaton, and Harch Mirchandani, is a market-leading provider of a complete suite of Oracle human capital management (HCM) cloud implementation and consulting services. The Company guides clients through every phase of an implementation project, including strategy, deployment, management, adoption, and optimization. ArcLight is headquartered in Burlington, Massachusetts.

SITUATION
The ArcLight team was seeking to further its position as a leader in the technology consulting sector by building upon ArcLight’s extensive expertise across the full suite of Oracle Cloud products and software and the Company’s specialization in HCM integrations, change management, and ERP support. The Company was targeting a partner that would support the successful execution of ArcLight’s growth strategy by expanding its national service footprint with a high-growth, differentiated, and specialized firm with a focus on prioritizing customer and employee satisfaction.

ENGAGEMENT
G2 Capital Advisors, LLC (“G2”) was engaged by ArcLight as the exclusive financial advisor leading a sell-side effort focused on identifying and transacting with an optimal partner to support the Company’s long-term growth strategy.

OUTCOME
The transaction was successfully executed on June 30, 2021 through a sale of ArcLight to Addison Group. ArcLight will continue to operate their brand under Addison just like Bridgepoint Consulting, which G2 sold to Addison in 2017, providing opportunities for growth both for the business and employees.

“G2 ran an efficient and robust process. We couldn’t be more pleased with the outcome. G2 helped us to find the right partner with which to grow ArcLight both in terms of business goals and cultural fit.” said ArcLight co-founder, Jeff Eaton.

The ArcLight acquisition represents the third company Addison has acquired through a G2 represented deal process.

“It was an honor and a pleasure to work with Pritam, Jeff, and Harsh. The sale is a fantastic outcome for our client and allows the partners to realize their goals for the company while accessing Addison’s exceptional support base to grow their business.” said Kerri Ford, Managing Director and Practice Leader of Technology & Business Services for G2 Capital Advisors.

About Arclight Consulting Group LLC:
ArcLight Consulting is a leader in Cloud implementation services. ArcLight is dedicated to ensuring that its customers are not only successful with their Cloud applications investment, but that they maximize and optimize that investment. ArcLight’s team of certified experts continuously provide best in class service, guidance and direction to ensure customer’ success via its established methodology that bridges software and process. ArcLight’s founding principle is that Customer Service drives Customer Success and putting it into practice creates long-term benefits for customers, employees, partners, and the communities that ArcLight serves.

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Kerri Ford, Managing Director & Practice Leader Technology & Business Services : T: 917.515.7585 E: [email protected]

Matt Konkle, Senior Managing Director & Head of Industry Teams : T: 317.371.6608 E: [email protected]

Connor Grogan, Vice President : T: 860.707.5754 E: [email protected]

Kevin Lamb, Senior Analyst : T: 508.282.6262 E: [email protected]

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Founded in 1986, Action Target, Inc. (“Action Target” or the “Company”), a portfolio company of Dubin Clark & Company, Inc. (“Dubin Clark”), is the leading provider of equipment and services for live-fire training facilities. With the most technologically advanced and customized live-fire solutions, Action Target is the provider of choice for law enforcement, military, international, and commercial customers.

SITUATION

Action Target successfully implemented a growth strategy started in 2019 to expand and professionalize service offerings for live-fire training facilities. With the reorganization of the business into two distinct and focused business units, Range Projects and After-Market Services, Action Target was seeking to refinance its existing debt to lower the cost of capital and expand capacity to fund growth initiatives.

ENGAGEMENT

G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to the Company. G2’s Capital Markets team leveraged deep capital markets expertise and precise positioning of the Company’s growth strategy to generate a competitive process that ultimately yielded a flexible capital solution capable of supporting Action Target’s strategy going forward.

OUTCOME

The new senior secured credit facility consists of an Asset Based Revolver and Term Loan Facility (i.e., unitranche) provided by Emigrant Bank.

Mike Birch, Chief Executive Officer, commented, “Despite a turbulent year stemming from the COVID-19 pandemic, we continued to successfully expand our After-Market Services unit while also continuing to drive strong performance in our core Range Products business across all channels. We hired G2 to find a new financial partner who could support our growth objectives for the future. G2 took the time to understand all facets of our business. They helped us articulate a compelling and detailed investment opportunity for potential lenders, which we believe was an important part of the success of this transaction.

Tom Caracciolo, Managing Partner at Dubin Clark, added, “We also were impressed with G2’s ability to access a broad range of lenders, which allowed us to simultaneously evaluate multiple structures for the Company. G2 seamlessly coordinated an efficient competitive process and found the right partner for the Company in Emigrant Bank.”

“We are proud to have partnered with Action Target to execute a refinancing that will provide the fuel for the next stage of their growth. Management put in a significant amount of dedication and focus to execute a strategic shift during a pandemic. It is great to see this hard work pay off as the Company now has the capital structure in place to support initiatives to drive higher growth and profitability,” said Howard Lanser, Managing Director and Head of Capital Markets at G2.

About Action Target

Action Target is a business that has transformed the concept of shooting range installations. Founded in 1986, the company started by creating a pneumatic turning target system for the Provo Police Department training curriculum. From there, the Company continued to design, develop, and implement new products and services for the $600 million live-fire training facility market serving the U.S. commercial, U.S. military, U.S. law enforcement, and international segments. The Company has redefined the customer experience in live-fire training facilities by introducing groundbreaking technology-driven solutions that generate a modern feel and maximize engagement. For additional information, visit https://actiontarget.com/.

About Dubin Clark

Established in 1984, Dubin Clark is a private equity firm that focuses on strategic and operational value creation. Dubin Clark seeks to acquire interest in branded consumer and industrial niche manufacturers and specialty services businesses with unique business models and a strong growth trajectory. The Firm is based in Boston, Massachusetts, with an additional office in Jacksonville Beach, Florida. For additional information, visit https://dubinclark.com/.

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets, and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Howard Lanser, Managing Director, Head of Capital Markets
C: 312.961.7227 E: [email protected]

Cullen Moore, Senior Analyst, Capital Markets
C: 774.571.7926 E: [email protected]

Ben Wright, Chief Operating Officer
C: 619.972.3586 E: [email protected]

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CLIENT:
Go2 Logistics Holding Corporation (“Go2” or the “Company”) is a leading provider of integrated supply chain solutions to a variety of end markets across the U.S. The Company offers asset-based and non-asset capabilities that include temperature-controlled and dry van less-than-truckload and truckload services, freight brokerage services and warehousing and distribution services. Go2 is headquartered in Chicago, Illinois and has four other cross dock locations across the United States.

SITUATION:
Go2 Logistics Holding Corporation was founded by Tomasz and Grzegorz Rzedzian. In 2015, the Rzedzian brothers recapitalized the business with HCI Equity Partners (“HCI”) which at the time was the first institutional investment received. Throughout the five-year partnership with HCI, Go2 expanded service capabilities, drove operational efficiencies, and generated significant earnings growth. The stakeholders sought to find a new partner to recapitalize the business and allow HCI to realize their investment.

ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by Go2 Logistics Holding Corporation as the exclusive financial advisor to lead a highly targeted and efficient sale process to find new debt or equity partners to recapitalize the business.

OUTCOME:
The transaction was successfully executed on May 3, 2021 through a majority recapitalization of Go2 Logistics Holding Corporation with funds affiliated with Stellex Capital Management (“Stellex”). Go2 will add to several platform investments that Stellex has made in the Transportation & Logistics segment.

Tomasz Rzedzian, Co-Founder and Co-President of Go2 said, “We had a tremendous run over the past five years with HCI Equity Partners and thank them for a successful partnership. G2 ran a robust and efficient process that resulted in finding a new partner in Stellex that we are thrilled to welcome to Go2. My brother and I were pleased with the level of service and expertise provided by G2 and could not be happier with the outcome and dedicated support provided by G2.”

“The Rzedzian brothers are excellent operators, and we were pleased to partner with them and continue their growth trajectory,” said Dan Dickinson, Managing Partner of HCI, “G2 did an excellent job throughout the process to lead us to a successful exit and we are thrilled with the final result.”

“It was an honor and pleasure to have had the opportunity to work with the Rzedzian brothers and HCI”, said Chris Casteleyn, G2’s Director – Transportation & Logistics. “Go2 is a highly differentiated transportation service provider that under Stellex’s ownership and guidance, should continue to generate industry leading margins and distinguish itself as a premium LTL carrier. We are excited to monitor the progress and status of key growth initiatives that underpin the strategy that management and Stellex have developed.”

About Go2 Logistics Holding Corporation
Go2 Logistics Holding Corporation is a value-added logistics supplier focused on custom consolidation, partial truckload, and expedited solutions. Specific services include asset-based less-than-truckload and truckload services, freight brokerage services supporting a variety of modes and end markets and temperature-controlled warehouse and distribution services.

About HCI Equity Partners
HCI Equity Partner is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing, and service companies. HCI makes majority investments in businesses within North American in large, fragmented markets. For more information, please visit our website at www.hciquity.com.

About G2 Capital Advisors:
G2 Capital Advisors provides M&A, capital markets, and restructuring advisory services to the middle market. G2 offers integrated, multi-product, and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. G2 aspires to be the trusted advisor of choice to its clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Chris Casteleyn, Director – Transportation & Logistics: T: 415.531.3138 E: [email protected]

Chris Hughes, Managing Director – Transportation & Logistics: T: 404.395.6889 E: [email protected]

Ben Wright, Chief Operating Officer: T: 619.972.3586 E: [email protected]

Peter Reed, Director: T: 617.366.9254 E: [email protected]

Tess Sheidy, Associate: T: 248.767.1283 E: [email protected]

Ted Malpiede, Senior Analyst: T: 781.752.6001 E: [email protected]

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CLIENT:
Arbre Group Holding Corporation (“AGH”) is a family-owned business that began in 2009 following the acquisition of the assets of Arbre Farms Corporation (“AFC”) and Willow Cold Storage Corporation (“WCS”, together with AFC, “the Company”). AGH has roots dating back to 1948 when Francis Marks founded a fresh produce company. Through its wholly owned subsidiaries, including Paris Foods Corporation, Holli-Pac Inc. and Sun Mark Foods, AGH offers processing, re-packaging, distribution, and storage for a variety of frozen fruit and vegetable products.

SITUATION:
AGH was formed through a combination of frozen fruit and vegetable processing, re-packaging, cold storage, and distribution businesses across Central and Eastern U.S. G2 Capital Advisors, LLC (“G2”) was initially engaged by the Board of Directors of AGH to evaluate strategic alternatives for the Company in service of helping them realize their long-term vision, including a current state analysis of the business, assessment of potential growth opportunities and development of financial and operational alternatives. Following thoughtful consideration of the strategic alternatives, the Board of Directors engaged G2 to pursue partnership opportunities for its processing assets, allowing AGH to allocate resources to its core distribution businesses.

ENGAGEMENT:
G2 served as the exclusive financial advisor to AGH, leading an expedited, hands on process to evaluate partnership opportunities for AFC and WCS. G2 focused on identifying potential partners for the Company with deep operational expertise in food processing and who understand the value of the facility and assembled assets.

“The AGH team trusted G2 to run the process to support its long-term vision for its companies. It was a pleasure working with the AGH team to deliver the optimal outcome for AFC and WCS. We are excited about the future and look forward to watching the continued success of the Company with a highly capable partner in OPC.” said Don Van der Wiel, Managing Director for G2.

OUTCOME:
After evaluating various partnership options, AGH determined a carve out sale of the Company ultimately presented the best path forward for AFC and WCS. The transaction was successfully closed on April 30th, 2021 through a sale of AFC and WCS to Oregon Potato Company (“OPC”), and assigned to OPC Arbre Farms, LLC. The acquisition strengthens OPC’s position as a leader in the vegetable processing and distribution space to better serve its customers across North America.

“This outcome provides AFC and WCS with an opportunity to leverage OPC’s footprint, expertise, and relationships to accelerate growth and extend its reach in the frozen vegetable market. We thank G2 Capital Advisors for guiding us through this complex and detailed process. G2 acted as an extension of our team providing valued support and trusted advice throughout.” said Dylan Marks, President & CEO of AGH.

About Arbre Group Holdings:
Founded in 2009 with history dating back to the late 1940’s, AGH through its subsidiaries specializes in globally sourced frozen fruit and vegetable wholesale distribution, frozen produce importing, frozen vegetable processing, frozen produce re-packing, and cold storage services to the retail grocery, foodservice, and frozen food manufacturing companies throughout North America.

About G2 Capital Advisors:
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Ben Wright, COO: E: [email protected]

Don Van der Wiel, Managing Director: E: [email protected]

Zach Talotta, Senior Associate: E: [email protected]

Kevin Lamb, Senior Analyst: E: [email protected]

Andrew Keleher, Vice President: E: [email protected]

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CLIENT:
Match Marketing Group (“Match” or the “Company”) provides a suite of marketing services focused on driving consumer engagement, brand recognition and sales conversion. The Company is comprised of two business segments Public Label, a creative agency focused on helping brands align with consumer motivations and cultural movements and Match Retail, an agency focused on helping brands become retail ready. Specific service offerings across the two business segments include creative, strategy insights and data analytics, social and digital media, shopper marketing, experiential marketing, merchandising and retail solutions. Match’s client roster includes numerous Fortune 500 Companies, spanning consumer packaged goods, automotive, insurance, service businesses, technology, electronics and retailers. Public Label label is headquartered in Boulder, Colorado and Match Retail is located in Toronto, ON.

SITUATION:
Match Marketing Group was developed through a roll up of a collection of marketing agencies prior to Southfield’s acquisition in 2018. When the COVID pandemic hit in early 2020, the marketing and creative agency industry was among many industries negatively impacted. Global stay at home mandates reduced the demand for marketing support to brick and mortar retailers, and mass gatherings and large audience based events were put on hold. Further, the Board of Directors had hired new leadership in Q3’19 to facilitate a strategic re-imagination and modernization of Match’s core offerings through the investment in, and acquisition of, new tools, companies and capabilities.

ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was initially engaged by by the Board of Directors of Match to evaluate strategic alternatives for the Company in service of helping them realize their long term vision, including a current state analysis of the business, assessment of potential growth opportunities and development of capital alternatives. Following thoughtful consideration of the strategic alternatives by all stakeholders, Match’s Board of Directors engaged G2 to pursue a recapitalization of the business with a new source of debt and equity capital under a focusedmarket process.

OUTCOME:
The transaction was successfully executed on December 23, 2020 through a sale of Public Label and Match Retail to Innovatus Capital Partners, LLC, an independent investment adviser and portfolio management firm, with a private debt and diversified asset based strategy. This acquisition comes on the heals of Innovatus’ purchase of VSA Partners, and in preparation for future acquisitions as they seek to develop a global marketing agency. Both Public Label and Match Retail are experiencing positive momentum since the acquisition, and combined with Innovatus’ vision and capital are poised for strong growth.

Brian Cohen, Chief Executive Officer of Public Label and Match Retail said, “Match had a complicated history that, in turn, made any transaction a difficult one to realize. Though we had a focused vision pre-COVID, the path to realization was less clear once the pandemic disrupted our foundations in experiential and retail. G2’s pragmatic approach, experience in my shoes, and deep subject matter expertise were critical to advising us through a complex and dynamic situation. The outcome was exactly what we were looking for, and the process, partner identification and overall understanding of how to get us there exceeded our expectations from beginning to end. I couldn’t be happier with the outcome and the dedicated support and partnership G2 provided.”

“We are honored to have had the opportunity to work with the Board of Directors of Match Marketing Group”, said Matt Konkle, G2’s Senior Managing Director and Head of Industry Teams. “Brian and his team have built a great business that will continue to prosper under the new partnership with Innovatus Capital Partners. We are excited to see what the future brings for the Company.”

About Public Label
Public Label is a North American creative marketing agency. Made up of an inspired group of enthusiasts from all corners of the marketing world, Public Label’s mission is to help brands recognize and align with consumer motivations and cultural movements. Public Label identifies cultural trends, taps into what people already believe in, and builds stronger brand affinity and loyalty. This results in action that drives conversion, ultimately leading to brand growth. For more information, visit www.publiclabelagency.com.

About Match Retail
Match Retail is a leading sales, merchandising and branded retail agency working for major brands across North America. Inspired by an endless desire to help transform brands so they can be retail ready, Match Retail works with tier one clients to drive conversion in traditional shopping environments through enhanced customer experiences. The agency prides itself on top-notch people and best-in-class training to produce unparalleled execution that it measures with pinpoint accuracy. Learn more at www.matchretail.com.

About G2 Capital Advisors:
G2 Capital Advisors provides M&A, capital markets, and restructuring advisory services to the middle market. G2 offers integrated, multi-product, and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. G2 aspires to be the trusted advisor of choice to its clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Matt Konkle, Sr. Managing Director, Head of Industry Teams: T: 317.371.6608 E: [email protected]

Jeff Varsalone, Managing Director T: 516.410.6215 E: [email protected]

Pat Reinhardt, Managing Director: T: 508.287.7065 E: [email protected]

Chris Casteleyn, Director: T: 415.531.3138 E: [email protected]

Matt Powers, Associate: T : 940.395.3714 E: [email protected]

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CLIENT

Koffee Kup Bakery (“KKB” or the “Company”) is a manufacturer of baked goods, including bread, donuts, and English muffins, delivering to an established base of high-volume customers in the Northeast and Mid-Atlantic regions. The Company distributes its products to over 4,500 delivery points supported by a 135-route distribution network.

SITUATION

Koffee Kup Bakery, founded in 1940, experienced tremendous growth in 2013 through the acquisition of Vermont Bread Company. The Company is in the process of repositioning its business to capitalize on a compelling platform of established brands, private label partnerships, long-term relationships with blue-chip retailers, and a vast distribution network. The Company sought a financial partner to accelerate its next phase of growth and profitability. KKB is one of largest employers in the state of Vermont, with 500 employees across its three bakery facilities: Brattleboro, VT; Burlington, VT; and North Grosvenor Dale, CT.

ENGAGEMENT

G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to KKB, leading a targeted and efficient sell-side effort focused on finding the optimal partner to support the Company’s long-term growth strategy. G2 and the Company have had a long-term relationship prior to the transaction process including G2 providing financial advisory and liquidity management support.

OUTCOME

Koffee Kup Bakery successfully completed a transaction with American Industrial Acquisition Corporation (“AIAC”) on April 1, 2021. AIAC has significant experience partnering with manufacturing and distribution businesses and is well positioned to continue the expansion of KKB, capitalizing on operational improvements and driving growth momentum forward.

“Prior to the transaction, G2 had been serving as a financial advisor to KKB. Their in-depth knowledge of the company’s needs and shareholders’ criteria allowed G2 to find the best fit for a new investor. Once our shareholders chose the right investor to partner with, G2 put all their efforts towards completing the deal in a timely manner. In the end, the work done by G2 maintained the criteria set out in the LOI and facilitated the entry of a new investor with deep ties in Vermont industry. The completion of this transaction will certainly drive the development of KKB in the interest of all its employees as well as financial partners and suppliers,” said Hubert Aubery, owner of KUPCO

“The success of this transaction is a fantastic example of working with the current majority shareholder, KUPCO, who is committed to their employees. The owners and management team at KKB understood that in order to take their company to the next level, they needed a partner who would not only provide financial support, but operational expertise at the executive level. With AIAC’s commitment to not only providing immediate capital infusions but enriched credit facilities, together KKB & AIAC will uncover substantial operational improvements and ultimately maximize the growth potential of the Company,” said Pat Reinhardt, Managing Director of G2.

About Koffee Kup Bakery:

KKB is a leading, VT-based manufacturer and distributor of branded baked goods. The Company manufactures 325 bread, bun, English muffin, and donut SKUs, which it delivers to over 4,500 delivery points through its Company-operated distribution network. The Company sells its leading brands throughout the Northeast and boasts a diverse and tenured base of over 1,000 customers.

About American Industrial Acquisition Company:

Founded in 1996, American Industrial Acquisition Corporation is an investment firm, based in New York, New York. The firm seeks to invest in the manufacturing, aerospace, automotive, truck, rail, appliance, power generation, mining, oil and gas, packaging, pulp and paper, medical equipment and pharmaceutical sectors.

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Pat Reinhardt, Managing Director: T: 508.287.7065 E: [email protected]

Michael Williams, Director, Industrials & Manufacturing: T: 917.523.2164 E: [email protected]

Matthew Ball, Associate: T: 978.914.4421 E: [email protected]

Will Luetmer, Associate: T: 857.449.0236 E: [email protected]

Evan Carlson, Senior Analyst: T: 775.445.0677 E: [email protected]

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CLIENT
Bee’s Wrap LLC (“Bee’s Wrap” or the “Company”) is a leading producer of sustainable food wraps that serve as a natural alternative to plastic wrap. The Company distributes its products through 3,000+ retail locations across the U.S. and ecommerce channels and reaches over 40 countries across the world. As a certified B-Corp, the Bee’s Wrap team is committed to using their work, and the best manufacturing practices, to support the planet and better the lives of their employees, families, and local and global communities.
SITUATION
Bee’s Wrap was founded in 2012 by Sarah Kaeck while seeking a way to remove plastic from her kitchen in favor of a more sustainable solution for food storage. Over the last eight years, the Company has achieved significant growth and Sarah was seeking a partner that could leverage Bee’s Wrap’s successful track record and lead the Company through its next stage of growth.
ENGAGEMENT
G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to Bee’s Wrap leading a targeted effort focused on finding the optimal partner that would maintain the culture and commitment to driving social change and continue building on the Bee’s Wrap legacy.
“Sarah entrusted G2 to advise her in a most important transition and transaction. It was our great honor to work with her and the entire Bee’s Wrap management team to deliver an optimal outcome for all. We are very excited for Bee’s Wrap and for what the future holds with a partner who values the mission and culture of this unique Vermont-based company,” said Pat Reinhardt, Managing Director for G2 Capital Advisors.
“It was a real privilege working with Sarah and the Bee’s Wrap team. Bee’s Wrap is quickly becoming an iconic brand in the sustainable packaging industry, with products that are truly essential in any deep green focused consumer kitchen. We are excited about the new partnership, and look forward to watching the continued success of the company and the accelerating adoption of these sustainable solutions,” said Mike Williams, Director for G2 Capital Advisors.
OUTCOME
Bee’s Wrap successfully completed a transaction on February 4, 2021 with a private investor. The buyer has significant experience partnering with niche consumer products businesses and is well positioned to continue expanding through established channels and capitalize on Bee’s Wrap’s first mover advantage.
“Bee’s Wrap has grown exponentially since I founded the business in 2012, and the acquisition of our company brings resources that will even further grow the national and international recognition of our unique solution to the problem of single use plastics. In facilitating this acquisition, G2 made it possible for us to find a partner that would scale the Company while also firmly upholding our mission, values, and vision for Bee’s Wrap. As a value based Company it was essential for us to find the perfect partner and G2 made this happen. They were a pleasure to work with during this process, providing valuable support and expertise,” said Sarah Kaeck, Founder of Bee’s Wrap.
About Bee’s Wrap (www.beeswrap.com):
Bee’s Wrap is a leading alternative to plastic wrap. From its headquarters in Middlebury, Vermont, Bee’s Wrap creates bees wax wraps—sold online and in stores around the world—that provide a versatile and durable solution for sustainable food storage.

About G2 Capital Advisors (www.g2cap.com):
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Pat Reinhardt, Managing Director: T: 508.287.7065 E: [email protected]
Michael Williams: Director, Industrials & Manufacturing: T: 917-523-2164 E: [email protected]
Andrew Keleher, Vice President: T: 860-748-6480 E: [email protected]
Tess Sheidy, Associate T: 248-767-1283 E: [email protected]
Kevin Lamb, Senior Analyst T: 508-282-6262 E: [email protected]