Quarton Partners acted as the exclusive financial advisor to The Crown Group, a provider of coating services to the automotive, agricultural, heavy truck and industrial markets, on its recent sale to High Road Capital Partners and Charter Oak Equity. The sellers of Crown were members of the Baer family which founded the company in 1965.
Quarton Partners is a specialty investment banking firm serving privately held and publicly traded companies as well as private equity firms. Quarton assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations, and other financial advisory services. The firm is headquartered in Birmingham, MI (www.quartonpartners.com).
Robert Parker, Managing Director, led the transaction for Quarton. Other team members for Quarton included Greg McGowan, Director, and Mike Knoblock, Analyst.
The Crown Group provides coatings for electrocoat, powder coat, and liquid applications to the automotive, agricultural, heavy truck and other industrial end markets. The company also provides assembly, warehousing, and sequencing services, as well as component finishing operations and inventory management. The Crown Group has facilities in the Michigan cities of Port Huron, Detroit and Shelby Township; Fort Wayne, IN; Portland, TN; Waterloo, IA; and Greenville, SC. The Crown Group was founded in 1965 by Philip Baer and is headquartered in Warren, MI (www.thecrowngrp.com).
“Crown’s disciplined and systematic operational approach, including the ability to seamlessly integrate itself in its customer’s supply chain and provide value-added logistics services, is highly valued by its customers for whom avoiding business interruption or delays is paramount,” said William Connell, High Road Partner. “We are excited to work with Crown’s outstanding management team and Charter Oak to drive multiple growth initiatives.”
High Road Capital Partners invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. High Road was formed in 2007 and currently manages over $335 million of committed capital. The firm is based in New York (www.highroadcap.com).
Charter Oak Equity invests in niche manufacturing, packaging, medical products & services, specialty chemicals, consumer products and financial services companies ranging in size from start up to $150 million of enterprise value. Since founding in 1992, the firm has invested over $500 million in 27 portfolio companies and completed more than 50 acquisitions. Charter Oak is based in Westport, CT (www.charteroak-equity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-15-13