CLEVELAND, Dec. 28, 2016 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Snappy Co. (Snappy), a portfolio company of Blue Wolf Capital Partners, to M&M Manufacturing, a subsidiary of MiTek Industries, which is owned by Berkshire Hathaway (NYSE: BRK.A). BGL's Industrials and Building Products team served as the exclusive financial advisor to Snappy in the transaction.
Snappy is a leading branded manufacturer and supplier of galvanized pipe, duct, and fittings for the residential HVAC market. For more than 60 years, the company has been a trusted resource to contractors and distributors who rely on Snappy's product quality, consistency, and availability. Snappy's history of innovation, brand recognition, quality reputation, and service differentiation afford it a dominant market share in its core Midwestern and Northeastern regions. Snappy operates production facilities in Minnesota and New York.
Snappy's extensive product range and manufacturing expertise are highly complementary to M&M Manufacturing, which supplies metal products into the air distribution and ventilation markets. With the acquisition, M&M will grow its manufacturing footprint to eight locations and plans to expand Snappy's manufacturing capabilities and operating infrastructure.
Christopher Thomas, CEO of Snappy, commented, "BGL did an excellent job understanding our business, providing guidance and review of the various offers received, and ultimately delivering a strong partner in M&M, MiTek, and Berkshire Hathaway. The transaction is a win-win for our customers, employees, vendors, and shareholders."
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, and Philadelphia and real estate offices in Chicago, Cleveland, Irvine, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
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SOURCE Brown Gibbons Lang & Company