Matrix Capital Markets Group was the exclusive financial advisor to Stevens Manufacturing on its recent sale to J.H. Whitney Capital Partners.
The transaction for Matrix was led by Mike Morrison, David Shoulders, William O’Flaherty and Pratik Thakral.
“This is an excellent outcome for the company, its management team, its employees and its customers. From prior experience with J.H. Whitney, we are confident Stevens Manufacturing is in the right hands and is poised for continued growth,” said Mike Morrison, President of Matrix.
Stevens Manufacturing is a supplier of precision parts, flight-critical components and complete sub-assemblies to the aerospace industry. The company’s parts and sub-assemblies are used in numerous commercial and defense helicopter platforms. Stevens Manufacturing is based in Milford, CT (www.stevensmfgco.com).
“Matrix did an outstanding job of identifying a partner that both shared my vision and accomplished my goals in this transaction without a prolonged and time-consuming auction process,” said Stephen Fogler, President of Stevens Manufacturing. “I look forward to the opportunity to partner with J.H. Whitney and to continue to serve all of our customers’ needs.” As part of the transaction, Mr. Fogler will retain partial ownership of Stevens Manufacturing and remain with the company in his current role as President and CEO.
Matrix Capital Markets Group is a middle-market investment bank that provides merger & acquisition and financial advisory services to privately-held and private-equity owned companies. Sectors of expertise include building products, business services, consumer products, healthcare, industrial products, lumber and petroleum marketing & distribution. Matrix was founded in 1988 and has offices in Richmond, VA (headquarters), Baltimore and Chicago (www.matrixcmg.com).
J.H. Whitney invests in small and middle market companies that are active in the consumer, healthcare, specialty manufacturing, and business services sectors. The firm is investing out of its seventh private equity fund. J.H. Whitney was founded in 1946 and is based in New Canaan, CT (www.whitney.com).
“Steve Fogler has a unique passion for the business that has been the driving force behind the company’s rapid growth and success,” said Bob Williams, Senior Managing Director of J.H. Whitney. “Our partnership with Steve and his team provides a platform for which accelerated growth can be achieved, while ensuring that we stay loyal to the quality and customer service that have become synonymous with Stevens Manufacturing.”
2014 PEPD • Private Equity’s Leading News Magazine • 8-21-14
