Mosaic Capital Partners has partnered with the employees of Boston Barricade to acquire the company through an ESOP transaction.
Boston Barricade is a provider of modular enclosures, in-store installation services, and custom graphics for retailers, mall developers, general contractors and airports. The company, founded in 1992, has 13 service centers across the United States and is headquartered in Vero Beach, FL (www.bostonbarricade.com).
“Our partnership with Mosaic and the new ESOP structure represents the perfect cultural fit for our organization. We are excited to take the company to the next level with direct participation from our tenured and dedicated workforce,” said Bob Putnam, CEO of Boston Barricade.
“We are very excited to partner with Bob and his team at Boston Barricade and were extremely impressed with the company’s commitment to its employees from our initial meetings,” said Dabney Smith, the lead partner from Mosaic on the transaction. “We believe the company truly provides value-added service to its customers and has a proven ability to innovate as consumer trends continue to evolve. Most importantly, we are excited to provide the opportunity for the company’s employees to participate in the future success of the business.”
Mosaic Capital Partners invests mezzanine debt and equity in lower middle market companies with greater than $10 million in revenues that are located in the Southeastern, Mid-Atlantic and Midwestern sections of the United States. Sectors of interest include business services, healthcare, consumer products, niche manufacturing, food and beverage, and value-added distribution. Transaction types include control buyouts, ESOP leveraged buyouts, acquisition financings, and leveraged recapitalizations.
Richmond, VA-based investment bank Boxwood Partners was the financial advisor to Boston Barricade on this transaction. “With our deep understanding of the Boston Barricade business, we understood the value that Mosaic and the new ESOP structure could provide for the management team and the value creation opportunity for its employees,” said Managing Partner Patrick Galleher who led the transaction.
Mosaic Capital Partners is headquartered in Charlotte, NC (www.mosaic-cp.com).
© 2019 Private Equity Professional | July 24, 2019