Livingstone Finds Strategic Partner for Shor-Line
Shor-Line strengthens Midmark Corporation's animal health division
CHICAGO, Sept. 23, 2021 /PRNewswire/ -- Livingstone is pleased to announce the sale of Schroer Manufacturing Company ("Shor-Line"), a leading animal health equipment manufacturer, to Midmark Corporation, a clinical environmental design company and global manufacturer of diversified veterinary, medical, and dental products. The combined business is positioned as a preferred design partner for animal care professionals. Livingstone acted as exclusive financial advisor to Shor-Line.
Founded in 1927, Shor-Line offers a full range of high-quality containment, scales, surgery and exam tables, anesthesia, tubs, grooming, and lighting products. It also provides design and build services to its customers. The company's luxury kennels and low-stress housing and equipment are two trends Shor-Line is currently innovating. Shor-Line is headquartered in Kansas City, Kansas.
Rick Donahue, Chairman of the Board of Shor-Line, commented, "Livingstone provided flawless transaction execution advising our family throughout the sale process. They provided first-class representation, acted as true advocates on our behalf, managed the process every step of the way, and ultimately consummated the transaction with our preferred partner. We are thrilled to be partnering with Midmark to carry on Shor-Line's legacy."
"Shor-Line is a well-respected company in the animal health market with a long history of customer service, innovation, and high-quality equipment," stated Jon Wells, President and CEO of Midmark. "The culture and values of Shor-Line very much reflect that of Midmark, and we are excited to welcome them to the Midmark team. Together, we can be a strong partner for our customers, offering the new approaches, innovative technologies, and proven solutions they need while working with them to create a better care experience for pets and their owners."
"With greater than 85 million households owning dogs and cats in the US alone, the addition of Shor-Line to Midmark's platform further strengthens its leadership position in the pet products industry," said Andrew Isgrig, Partner at Livingstone. "We are pleased to have worked with Rick and his team to find such a good cultural fit and successful outcome."
"The Shor-Line transaction highlights Livingstone's commitment to delivering outstanding outcomes to family- and entrepreneur-owned clients. It was a pleasure working with Rick and his family, and we congratulate them on their next chapter with an excellent partner in Midmark," stated Patrick Hopkins, Director at Livingstone.
Founded in 1915, Midmark Corporation is the only clinical environmental design company that enables a better care experience for the medical, dental, and animal health markets. With more than 2,200 teammates worldwide, Midmark focuses on harmonizing clinical room design, technology, and workflows, creating a better experience for providers and patients at the point of care. Headquartered in the greater Dayton, Ohio, area, Midmark maintains production facilities and administrative offices in Versailles, Ohio, with nine additional locations in the United States and subsidiaries in India and Italy.
Shor-Line is Livingstone's 241st transaction completed since 2018 and the 80th global industrial transaction completed in the same timeframe following the sales of Multicam to Open Gate, Waterfront Brands to MPE Partners, Beranek to J&E, Lesman to Kele, LT Harnett to A&R, Cummins Allison to Crane, Capital Southwest's portfolio company, SpotSee, to Harbour Group, Royal Truck Body to Shyft Group, and Artistic Carton to Graphic Packaging. It is also the second sale to Midmark following a successful closing of the sale of the Mason Company in 2019.
About Livingstone:
Livingstone is an international mid-market M&A and debt advisory firm with offices in Beijing, Chicago, Düsseldorf, London, Los Angeles, Madrid, and Stockholm. We have deep industry expertise, extensive global coverage, and dedicated sectors teams across our offices serving the Business & Technology Services, Consumer, Healthcare, and Industrial segments.
To learn more about Livingstone, visit the website.
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SOURCE Livingstone Partners
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