Over the last 15 years, we have advised highly discerning clients across our core verticals. Some examples of the companies we have been privileged to work with are set out below
Transaction Experience
Kenny’s Great Pies
Multi-Channel Bakery Transaction
Integris Partners recently advised Kenny’s Great Pies a manufacturer of premium quality, clean-label, cream-based pies through the grocery, club, and foodservice channels. Kenny’s signature Key lime pie is made with 100% pure, freshly squeezed, authentic Key limes.
“Kenny’s achieved great things during our partnership with Kaho Partners,” said Gary, Chief Executive Officer of Kenny’s. “We transformed the business and paved the way for remarkable growth. As we embark on our next chapter, we are excited and confident that our partnership with Dessert Holdings will propel the company to even greater heights. Integris was an invaluable partner throughout the process, providing top-tier guidance and execution.”
Griffin Horter, Chairman of Kenny’s and Co-Founder of Kaho Partners, added “Integris, leveraging their deep industry knowledge, expertly guided us throughout the process, ensuring a fantastic outcome for all stakeholders. We are thrilled with the results and eagerly look forward to watching Kenny’s continued success in its new partnership with Dessert Holdings.”
Colorado Premium
Value Added Protein Processing Transaction
Integris Partners recently advised Colorado Premium Foods on its acquisition by Kainos Capital, a Dallas-based private equity firm.
Colorado Premium Foods is a leading provider of sous vide, portion-controlled, marinated, and other value-added protein products to retailers, restaurant chains, and meal delivery services nationwide.
“As a family-owned business and a premier employer in the community, it was critical to find a partner who would uphold our values and culture of excellence,” said Kevin LaFleur, Founder. “Integris was tremendous, and we were extremely blessed to have them as a partner on this journey. They were true professionals and trusted advisors throughout, always providing experienced and balanced perspectives to achieve our objectives and find the right partner for our family and team.”
Dan LaFleur, President of Colorado Premium Foods, added “Integris was by our side throughout the process. Their team understood the intricacies of our business deeply, and they were invaluable partners throughout. We are thrilled with the result and excited to continue to build upon Colorado Premium’s legacy.”
Weston Landscape & Design
Business Services Transaction
Integris Partners advised Weston Landscape & Design in its sale to Perennial Services Group. Weston is the leading premium residential and commercial landscaping provider in Colorado’s Front Range, Summit County, and Vail Valley regions. It is comprised of five different brands and offers a full suite of services, including design, construction & enhancements, materials, maintenance, snow removal, and holiday lighting.
“I started this business at 12 years old, and it’s been incredible to see it grow and flourish over the last few decades” said Tyler Weston, the Company’s Founder. “We have a number of different brands, geographies, and service lines, each with their own unique features and points of differentiation. Integris was able to convey the Weston story to the market in a way that generated interest from a number of buyers who truly appreciated what makes our company special. They ran a fantastic process and gave us a lot of options.”
RLE Technologies
Business Services Transaction
Integris Partners recently advised RLE Technologies (“RLE”) on its sale to May River Capital. RLE is a leading manufacturer of environmental monitoring products for critical facilities including the data center industry. With proven leak detection, temperature, humidity, and other monitoring products, RLE has experienced significant growth over the past several years and is projected to benefit from the rapid expansion of data facilities across the globe.
Jeremy Swanner, Co-owner of RLE said, “the Integris team was with us every step of the way. From helping us determine the optimal time to sell, to navigating and allowing us to capitalize on strong recent growth, Integris was instrumental in maximizing the outcome in our sale of RLE. With their hands-on approach, Integris truly goes beyond the conventional advisory role, offering invaluable support and expertise throughout the entire M&A process.”
Star Seed
Agricultural Transaction
Integris Partners advised Sequel Holdings, L.P., a Dallas-based private equity firm, on the sale of Star Seed, Inc. Founded in 1920 and located in Osborne, Kansas, Star Seed is a leading producer and value-added supplier of farm and conservation seed serving the Central United States. The company offers over 300 varieties of seeds to its customers, which include seed retailers, distributors, farmers, state and local conservation districts, NGOs, and private landowners. Star Seed’s Farm segment provides cleaned and delivered wheat, forages, alfalfa, and cover crops while the conservation segment supplies prescriptive mixes of native grasses and wildflowers used for land restoration, conservation, and habitat creation.
“We chose to partner with Integris for their impressive industry knowledge, disciplined process strategy, and exceptional level of service. Their team brought valuable insights and a thoughtful approach to managing all aspects of the transaction which led to a successful outcome for Sequel, the company, and its stakeholders.” Michael Crow, Sequel Partner
“Integris was a trusted and valued partner to Star Seed. They understood our business, providing leadership, guidance, and execution at all stages of the process. As a result, we are pleased to be aligned with a partner who shares our vision and will empower Star Seed to further elevate the value that we provide to our customers” Eric Woofter, CEO of Star Seed.
EnviroTech
Industrial Transaction
Integris Partners advised EnviroTech Services on its acquisition by Monomoy Capital Partners, a private investment firm with over $3 billion in assets under management.
EnviroTech is a leading provider of road surface and maintenance products, providing a diverse range of granular and liquid deicing and anti-icing agents specifically formulated to maximize road safety in winter weather conditions, as well as a suite of dust control and soil stabilization products for road maintenance. The company serves customers in the infrastructure, public works, property management, industrial, mining and oil and gas sectors. With an extensive production and transportation network across the United States, ESI operates 50 locations and serves customers in 40 states.
“After three decades of growing EnviroTech, our team was meticulous in our approach to entering into a new partnership. Integris is a trusted advisor who ran a thorough and skillfully managed process that was uniquely designed to meet our objectives. Integris exceeded our high expectations and delivered a partner whose cultural alignment and depth of experience working alongside founder-owned industrial businesses like ours, gives us the utmost confidence in the continued success of the business,” commented Roger Knoph, EnviroTech Founder.
Treat Planet
Pet Treat and Chew Business Transaction
Integris Partners recently advised Treat Planet, a premium pet treat and chew business based in St. Louis, Missouri, in its recapitalization by Inverness Graham. Treat Planet sells its treats under six brands, including etta says!, Cosmo’s Snack Shack, and Molly’s Market.
“Having grown and sold a business before, we knew how important investment bankers were to the sale process,” said Doug Martin, Co-Founder of Treat Planet. “Treat Planet is an emerging supplier and has experienced rapid growth across multiple channels and brands. Integris translated the strength and diversity of our growth potential to the market and helped us find a partner who appreciates our vision.”
“Integris immediately became a part of our team,” added Sherry Huber, Treat Planet’s Co-Founder. “They understood what sets our company apart from a cultural perspective, and because of that they were able to help us align with an investor who shares our values.”
Ouray Sportswear
Business Services Transaction
Integris Partners recently advised L2 Brands, a portfolio company of Sentinel Capital Partners, on the acquisition of Ouray Sportswear and Locale Outdoor from S&S Activewear.
Ouray Sportswear, founded in the Rocky Mountains as Ski Country Imports in 1965, is a leading supplier of quality apparel and headwear serving the destination, collegiate, golf, and corporate channels. L2 is a leading designer, manufacturer, and marketer of custom apparel and headwear for the collegiate, destination and leisure, and corporate markets.
“We are thrilled to welcome the Ouray and Locale team to the L2 family,” said Paige Wingert, CEO of L2 Brands. “Both are a tremendous addition and highly complementary fit for L2’s portfolio with significant potential for continued growth. We look forward to working with their team as we focus on bringing Ouray’s and Locale’s products to new customers and markets.”
Rooter Town™
Business Services Transaction
Integris Partners advised Plumb Enterprises, LLC which includes Rooter Town™ on its sale to Neighborly®. Plumb Enterprises is a leading plumbing services company primarily serving residential customers throughout the Denver and Colorado Springs markets.
Lincoln Peacemaker, owner and CEO of Plumb Enterprises said, “with over 25 years in the plumbing industry and many years of developing and refining our business model, we wanted an investment banking firm that could represent and showcase the business we have built. Integris Partners was our obvious choice. Their attention to detail, expeditious process, and transaction guidance resulted in the best outcome for Plumb Enterprises. We are excited about being part of the Neighborly® family, which will bring tremendous growth opportunities for both Plumb Enterprises and Neighborly®”.
Trical Superior Forage
Agribusiness Transaction
Integris Partners recently advised Northern Agri Holdings, a portfolio company of Lariat Partners on the divestiture of TriCal Superior Forage to Legacy Agripartners. Legacy is a portfolio company of Tillridge Global Agribusiness Partners.
TriCal is North America’s largest breeding organization for triticale, a highly versatile cereal forage crop. The Company is the clear leader in continuous innovation and genetic improvement in triticale. Its breeding program is based in Vernon, Texas, and has over 15,000 test plots throughout the U.S. and Canada.
“Under Lariat’s ownership, the Company accelerated its triticale breeding efforts, tripled the size of its licensee network, and developed genetics around other forage crops such as wheat and rye.” Commented Kevin Mitchell, Managing Partner of Lariat. “Integris effectively communicated the Company’s unique market position and facilitated a highly successful transaction that recognized TriCal’s value proposition and aligned the business with a partner who is well-suited to facilitate further growth.”
Imperial Headwear
Headwear and Apparel Transaction
Founded in 1929 and headquartered in Bourbon, Missouri, PAi provides the industry’s highest quality headwear and apparel under the Imperial and Paramount brands, as well as onshore decoration and third-party logistics services. The Company serves customers across diverse channels, including golf (where it is the market leader in customized headwear), global apparel brands, ad specialty, and e-commerce.
Paramount is a fourth generation, family-owned business that has been a staple in the Missouri community for nearly a century. It was of the utmost importance to our family that we found a partner who would continue to build upon the legacy that Paramount has established, said Mark Rubenstein and Bruce Levinson, the Company’s Co-Owners. “Integris delivered a partner that valued our history and is excited about our future potential – we couldn’t be happier with the outcome.”
Todd Johnson, President of PAi added, We initially chose Integris for their deep experience and industry knowledge, but the team’s ability to understand and position our complex business model, along with their unrelenting commitment and dedication, was ultimately what led to an extraordinary outcome for all stakeholders. The Integris team worked tirelessly to guide us through every step of this process, and they were an invaluable partner throughout the transaction.
Pinnacle Logistics
E-Commerce Logistics Transaction
Integris Partners recently advised Pinnacle Logistics of Fort Worth, TX on its sale to Worldwide Flight Services (WFS), a portfolio company of Cerberus Capital Management. Pinnacle offers aviation cargo handling services focused on specialist express cargo handling for e-commerce customers. In addition, it provides logistics and trucking services, operating out of nine aviation locations and eight trucking and logistics facilities across six states, with approximately 1,500 employees.
Pinnacle CEO Tom Wheeling said “Having worked with Integris in a prior transaction eight years ago, I knew they were the right firm to represent the wonderful company and team that Pinnacle has become. In addition to their attention to detail and technical capabilities, the Integris team’s support through numerous decision points was crucial to this successful outcome. Just as we pride ourselves at Pinnacle on outstanding customer service and fully executing on what we promise, Integris engaged deeply on our behalf, no matter the time or the topic.”
JTM Foods
Multi-Channel Bakery Transaction
Integris Partners recently advised Kainos Capital on the sale of JTM Foods to Tenex Capital Management. Based in Erie, Pennsylvania, JTM is a rapidly-growing player in the Sweet Baked Goods category and the dominant manufacturer within Handheld Snack Pies. JTM produces branded, private label, and co-manufactured products that are sold through a variety of retail channels including Grocery, Mass, Convenience, Dollar, and Club.
“Kainos and JTM enjoyed a successful partnership, and we set out on this transaction to find the best partner for the business while maximizing the value of management’s efforts.” Said Bob Sperry, Partner at Kainos Capital. “Integris brought deep industry knowledge, disciplined process perspectives, and proven execution capabilities, all of which were critical to achieving a tremendous outcome:”
Boval
Life Science Manufacturing Transaction
Integris Partners advised Boval Biosolutions, LLC. on its sale to Proliant Biologicals, LLC., a subsidiary of The Lauridsen Group. Located in Cleburne, TX, Boval is a manufacturer of high purity serum albumin for the life science industry. Boval is an industry leader in terms of albumin purity, custom manufacturing, and testing capabilities; manufacturing all of its products to ISO 9001 and ISO 13845 standards.
Cody Yarborough, President of Lifecycle Biotechnologies, the parent company of Boval Biosolutions stated, “I first worked with Stephen van den Heever and Integris Partners 15 years ago when I purchased Boval Biosolutions. Since then, I have worked with Integris on a number of transactions. Integris Partners has become a trusted advisor of mine, going beyond M&A, helping me to gain perspective on the growth strategy of all of my businesses. That relationship has culminated in this very successful sale of Boval to Proliant Biologicals. With regards to the sale of Boval, this is a great fit for the Company, and we could not be happier to see our products and technologies come under Proliant’s leadership and to know that our customers will be well served.”
Siegers Seed
Seed Distribution Transaction
Integris Partners advised Siegers Seed Co., on its sale to Stokes Seed Co. With offices in Michigan, Florida, and Georgia, Siegers is a prominent vegetable distributor across the United States and Canada, and is a leader in seed research trials, providing indispensable data to its customers on variety performance.
Jeff Siegers, President and COO said, “The decision to sell our family business was not taken lightly. With over 100 years in the seed business we wanted to make sure our business was in good hands. Integris was essential in achieving this very successful outcome. We are excited for the acquisition, which will bring an extended product offering, and a stronger team with a larger sales force.”
Clear Springs Foods
Aquaculture Transaction
Integris Partners advised Riverence Holdings on its acquisition of Clear Springs Foods (both based in Idaho’s Magic Valley along the Snake River), creating the largest land-based producer of trout in North America. The company offers fresh and frozen dressed, filleted, and other trout products nationally to restaurant and food service operators, grocery chains, distributors, and pet food customers, operating out of 14 trout farms with the capacity to produce over 15,000 metric tons of trout (rainbow and steelhead) annually and employing over 450 people in total.
Riverence CEO Rob Young said “This transaction, combining two neighbors who have been long competitors but respect each other highly, was a generational opportunity. Integris helped us to make the case for Riverence as the preferred acquiror in a way that worked well for an employee-owned business with the decades-long legacy that Clear Springs has. More generally, we really valued the expertise that Integris brought us in a complex transaction that still has a pretty simple goal, namely the creation of a powerful, sustainable trout business that wins with the consumer.”
Rubicon Bakers
Multi-Channel Bakery Transaction
Integris Partners recently advised Rubicon Bakers on its majority re-capitalization with Trive Capital. Founded in 1993 and based in Richmond, California, Rubicon sells clean label cakes, cupcakes, muffins, and pies in a variety of everyday and seasonal flavors to grocers nationwide. The Company offers gourmet, scratch-made desserts in both branded and private label formats to create a complete solution for in-store bakeries in the natural and conventional channels.
“Rubicon’s brand presence, unmatched quality, and tailored product development capabilities provide a unique value proposition to in-store bakery departments, an area of increasing importance to grocers,” said Andrew Stoloff, President and Co-owner of Rubicon. “Integris understood our position in the market and generated significant interest from experienced CPG investors. When a global pandemic set in during the process, Integris showed tremendous poise and kept our process on track, which allowed us to complete a highly successful transaction.”
Leslie Crary, VP of Human Resources and Co-owner, added, “As a mission-driven organization, Rubicon has been ‘Baking a Better World’ for over 25 years. We help to rebuild lives by employing, training, and supporting members of our community who need a second chance. It was critically important for us to partner with an investor who shared our vision and Integris delivered just that. Integris ultimately matched us with partners who shared our view of the world and appreciated Rubicon’s unique potential. We are truly grateful for their guidance and are thrilled to be partnering with the Trive Capital team.”
Trive Capital is a Dallas, Texas based private equity firm with a focus on investing in strategically viable middle-market companies and partnering with management teams to capture transformational upside. Chris Zugaro, Partner and co-founder of Trive Capital, commented, “We have been searching for an investment in the food and beverage sector like Rubicon for a long time. The Company is a category leader with a fantastic product set, led by a dynamic team, with incredible growth potential. The Integris team’s high-touch process and deep knowledge of the business were crucial to the deal’s execution in these unprecedented times. We could not be more excited to begin our partnership with Andrew, Leslie, and the rest of the Rubicon team.”
Holland & Hart provided legal counsel to Rubicon.
For additional information on the transaction, please contact Patrick Seese, Ethan Furtek, Jared Syke, or Nick Sullivan.
Epicurean Butter
Multi-Channel Food Transaction
Integris Partners advised Epicurean Butter Company, LLC, a manufacturer of gourmet compound butters, in its sale to HC Private Investments. Founded in 2004 and based in Federal Heights, Colorado, Epicurean Butter offers chef-designed products that are a convenient solution for improving the quality and taste of everything from steaks to vegetables to garlic bread. The Company sells both branded products and private label goods across an array of channels, including in-store bakeries, meal kits, traditional grocery, and restaurants.
Janey Hubschman, Co-Founder of Epicurean Butter, said, “My husband and I worked so hard to build this business, and when it came time to sell, we didn’t just want to maximize value, we wanted to find a home for our employees with an investor who could really help the company to grow. Integris protected our interests at every turn and delivered exactly what we had hoped for. They treated our deal like the most important one they’d ever done, and their team has really become family.”
Ouray
Decorated Sportswear / Branded Apparel Transaction
Integris Partners advised Jalex Holdings, a Denver-based private investment firm, on its sale of Ouray Sportswear, LLC to an affiliate of CenterGate Capital, a private equity firm based in Austin, TX. The investment creates a strategic partnership between Ouray and TSC Apparel, a CenterGate portfolio company which distributes imprintable apparel. The strategic partnership combines TSC’s national reach with Ouray’s premium products and capabilities mainly focused on the destination resort, collegiate, golf, private label, and large-format retail marketplaces.
Jon Boris of Jalex commented, “Integris ran an efficient process that yielded a tremendous outcome for Jalex and a strategic partner for Ouray that positions the company to continue to expand its market presence. The Integris team’s knowledge of our business and industry, attention to detail, and total dedication to our transaction throughout the process, were all crucial to attaining this result.”
Northern Seed
Agribusiness Transaction
Integris Partners advised Northern Agri Holdings, a portfolio company of Lariat Partners, on the divestiture of Northern Seed, LLC a leading distributor of certified seed based in Great Falls MN, to Nutrien (TSX: NTR), the world’s largest provider of crop inputs, services, and solutions.
Sam Simpson, Managing Director of RedCloud Capital and CEO of Northern Agri Holdings, said “Northern Seed has long been an important partner to growers across Montana. With continued pressure on farmable acreage and climate uncertainty, it is increasingly important for famers to enhance yields by using certified seed or through seed conditioning and treatment. Integris facilitated a transaction that provided an attractive exit for Lariat and will allow Northern Seed to expand its market presence as part of Nutrien’s powerful retail network. The Integris team’s experienced approach was integral to achieving this outcome.”
Head Rush Technologies
Recreational Safety Products
Integris Partners recently advised Head Rush Technologies, a leading manufacturer of best-in-class equipment for the climbing and amusement markets, on its recapitalization by Pike Street Capital, a private equity firm based in Seattle. Head Rush products – including its flagship TRUBLUETM autobelays as well as its ZipStopTM zipline brakes and QuickJumpTM free fall devices, all of which use proprietary magnetic breaking technology, as well as trolleys and other consumable items – can be found in facilities in over 100 countries throughout the world including climbing gyms, zip line operations, aerial adventure parks, fun walls, trampoline parks, and many others.
“The process that Integris ran exceeded our high expectations in all respects, and delivered a partner in Pike Street who absolutely shares our mission. Integris built the entire process strategy around our objectives, and nailed the technical aspects of taking my co-founder Steve Holmes and me through each part of the transaction. We could not be more pleased with the outcome.” – John McGowan, Founder and CEO
Sky Valley Foods
Organic Sauces and Dressings Company
Integris Partners recently advised Sky Valley Foods, Inc. on its sale to Litehouse, Inc, an industry leader in the refrigerated dressings and dips space. Located in Danville, VA, Sky Valley Foods is a manufacturer of clean-label and organic dressings, sauces, and marinades. Sky Valley’s 132,000 sq ft. SQF Level 3 manufacturing plant will provide an East Coast manufacturing presence for Litehouse, Inc. Sky Valley Foods offers both refrigerated and shelf-stable products as well as a Whole 30 approved product line through its two brands: Sky Valley and Organicville.
Will Hall, CEO of Sky Valley stated, “Integris Partners was able to successfully manage a fast-moving and effective process, allowing Sky Valley to search a wide variety of buyers and ultimately guided us to the best fit in terms of synergies and aspirations in Litehouse, Inc. Partnering with Litehouse will allow Sky Valley to continue growing our better-for-you product lines, providing consumers with more healthy and tasty options.”
Willowood
Integris represents AG chem business
Integris Partners recently advised Willowood USA, an Oregon-based supplier of post-patent agricultural chemicals, in its recapitalization by Lariat Partners.
Founded in 2009, Willowood has quickly become one the preferred providers of crop protectants in the US. The Company’s product set includes herbicides, pesticides, fungicides, and adjuvants, which are sold nationwide for use in both high value and commodity crops. Willowood’s management team is comprised of seasoned industry veterans, whose product development and international supply chain expertise created a nationally recognized brand in just six years of operation. The Company’s growth history and potential motivated management to seek a financial partner to bolster infrastructure and take advantage of near term growth opportunities.
Brian Heinze, CEO of Willowood USA, said, “With Integris Partners, we aligned ourselves with a team that offered both financial and agricultural expertise. Their understating of ag chem distribution, commodities markets, and grower dynamics allowed Integris to properly position our Company’s unique features and growth potential. They ran a focused process that exceeded shareholder expectations, and delivered a partner that we are thrilled to team up with.”
Kevin Mitchell, Co-Founder and Managing Partner of Lariat Partners, said, “Willlowood has experienced exceptional growth during its relatively short history, and the Company is poised to capitalize on a number of exciting opportunities in the next several years. For Lariat, this investment is a chance to leverage our successful history in the agricultural inputs industry while partnering with a top flight management team.”
Lariat Partners is a Denver-based private equity firm focused on the middle market. With its People First, Strategy Second relationship philosophy and its CORE investment strategy targeting Consolidations, Consumables and Recurring Revenue businesses, Lariat offers a differentiated approach to partnering with entrepreneurs and growing their middle market businesses. The firm targets companies across a number of industries, including Specialty Agriculture, Energy & Environmental Services, Consumer Products and Maritime Services.
Rite in the Rain
Field-durable and water-resistant writing products
Integris Partners advised JL Darling, LLC (dba “Rite in the Rain” and a portfolio company of CID Capital) on its recapitalization by Capitol Peak Partners. Founded in Tacoma, WA in 1916, Rite in the Rain designs and manufactures a range of unique writing products for people who work and play in tough conditions. They are sold to government and military users, and can also be found at hardware retailers, industrial suppliers, office products stores, recreational products retailers, and many other channels.
“Rite in the Rain was a truly special company for us, in regard both to its culture and to its performance. We, the Silver family who were our partners during our investment period, and CEO Karl Mejia all placed great faith in Integris’ ability to run a competitive process and to present this unique company in a strong light. They delivered.” – Steve Cobb, Managing Director, CID
Colorado Quality Products
Manufacturer of natural and organic skincare, haircare, and beauty products
Integris Partners advised Colorado Quality Products (“CQP”), a portfolio company of Columbia Basin Partners, on its sale to Elevation Labs, a portfolio company of Clearview Capital. CQP serves innovative brands around the world by providing highly customized manufacturing services. The company operates out of two facilities in Denver, Colorado and specializes in formulating cutting edge products with unique natural ingredients.
“CQP is a fundamentally different business than most personal care products manufacturers. Integris positioned the company’s expertise in natural products, its innovation capabilities, brand relationships, and incredible growth trajectory effectively, and delivered a result beyond my expectations.” – Brady Dolsen, Founder of Columbia Basin Partners
Five Star Chemicals & Supply
Chemical products for the craft and home brewing industries
Based in Commerce City, CO, Five Star provides cleaning and sanitizing solutions to craft breweries, homebrew retailers and distributors, and craft distilleries. Its StarSan and PBW product lines are recognized throughout the industry for their ease of use, safety, and efficacy. The Company was sold to Weiman Products (a portfolio company of Cortec Group) which manufactures detergents, sanitizers and disinfectants for the consumer market under the Weiman®, Goo Gone®, Magic®, Gonzo®, Wright’s®, SCI®, and Urnex® brands, and for commercial markets such as coffee makers and grinders where Urnex® is the leading provider.
“Five Star is the most trusted brand in the craft and home brewing industries, giving peace of mind to discerning brewers looking for consistency in every batch of beer. We were looking for a buyer who shared our values and recognized our market position. Integris delivered just that. Through a smooth yet quick process that yielded several highly attractive options, Integris brought us an ideal home in Weiman.” – Jon Herskovits, President of Five Star
LILLEBaby
Branded baby-wearing products
Integris Partners advised LÍLLÉbaby, LLC on its recapitalization by The Riverside Company. LÍLLÉbaby’s flagship product, the COMPLETE carrier, was born out of a vision to create the most functional and fashionable baby-wearing carrier on the market. The product offering has developed to include several lines of soft-structure carriers as well as wraps and ring slings, while the brand’s passionate following has delivered exceptional growth.
“I’ve poured my heart and soul into LÍLLÉbaby’s products and brand. It’s my ‘baby.’ I had very high expectations for the partner we might select to help us further LÍLLÉbaby’s vision. Integris delivered a tremendous menu of options and guided us every step of the way through a very involved process. We couldn’t be more thrilled at the end to partner with a world-class sponsor in Riverside.” – Lisbeth Lehan, Founder
Rodelle
Premium vanilla, flavors, and other baking and cooking ingredients
Integris Partners advised Rodelle, Inc. on its sale to Archer Daniels Midland Company (NYSE: ADM). Located in Fort Collins, Colorado, Rodelle leads the vanilla industry with its vertically integrated sourcing program (which now includes over 2,100 farmers), a key consideration in the acquisition.
“This is our second time working with Stephen van den Heever and Integris Partners. We were extremely impressed with the Integris team who helped us purchase Rodelle in 2010, so that when we decided to find the right new home for Rodelle, Integris was the obvious choice. The bottom line is that Integris was extremely professional, running a very systematic and effective sale process. Their results have always surpassed our expectations.” – Joe Basta, Co-President of Rodelle
Canyon Bakehouse
Gluten-free bread company
Founded in 2009 and based in Johnstown, Colorado, Canyon Bakehouse offers a range of gluten-free breads, buns, bagels, English muffins, and specialty items sold at leading grocers and in other channels across all regions of the US. Canyon Bakehouse is the top gluten-free loaf brand in natural and specialty food stores, and the fastest growing such brand in the U.S. Flowers Foods, Inc. (NYSE: FLO) acquired the company for $205 million.
“Our products and brand are unique within the bakery landscape, and we needed an investment bank that could effectively convey the value of what we have created. Integris was able to accentuate the truly special elements of our business and translate them into maximum value. Their team worked tirelessly to optimize the deal for our company, employees and family throughout the process.” – Josh Skow, CEO and Co-Founder
Noosa
The fastest-growing major yoghurt brand in the US
Noosa has generated prominent shelf position within the booming yogurt landscape with its “Aussie-style” product – a unique blend of sweet and tangy flavors that combines the smoothness of classic yoghurt with the thick, rich presentation of Greek style, thereby creating an entirely new category. Noosa’s all-natural product line features traditional varieties like blueberry, raspberry and plain, as well as on-trend offerings such as strawberry rhubarb and pumpkin. Noosa is distributed in most major groceries across the country. Through a competitive process led by Integris, the company was recapitalized by Advent International, one of the largest and most experienced global private equity investors.
“As a veteran of the natural foods world, I had high expectations for how Noosa would be received in the market. Integris skillfully organized the consumer-focused private equity universe and managed the inbound interest we had received. Our shareholders were able to participate in a transaction that exceeded our expectations as well as to roll some of our proceeds alongside a world-class financial partner.” – Koel Thomae, Co-Founder and Executive VP of Sales
Boa Technologies
Precision closing systems for footwear, apparel, and sporting goods
Boa Technology is the creator of the patented, award-winning Boa® Closure System, a reel-based system that improves the performance and fit of footwear and equipment in snowboarding, biking, golf, running shoes, hiking, and many other sports, as well as in utility and work boots, medical products, protective helmets, and numerous other applications. Boa closures are featured on the products of hundreds of brand partners such as Adidas, FootJoy, K2, Specialized, and others across each of its segments. The company was recapitalized by Glenbrook Consumer Partners in partnership with management.
“As we set out on this process, we knew that we wanted to find the absolute right partner to help us in our continued development, and to do so in a transaction that recognizes the value of what our team has built. The process that Integris ran delivered on both these objectives, and met our high expectations. We couldn’t be happier with the result.” – Gary Hammerslag, Founder and Chairman of Boa Technology
Nick’s Sticks
Grass-fed, clean-label meat sticks
Integris Partners advised Wallace Farms, Inc. on the sale of its Nick’s Sticks division to private equity group Castleray and its portfolio company, Wenzel’s Farm. The Nick’s Sticks brand was one of the earliest clean-label meat snack products in the market, and has built a significant e-commerce client base as well as rapidly growing distribution within the natural grocery channel.
“Integris Partners exhaustively explored the universe of potential buyers on our behalf. Not only is Wenzel’s Farm ideally positioned to help us with our growing manufacturing needs, but they and Castleray also share our commitment to grass-fed, clean meat snack products. The fact that our management team will become an integral part of Wenzel’s Farm allows me to continue developing the tastiest, healthiest products possible, which is exactly what I was hoping for.” – Nick Wallace, CEO of Wallace Farms
WestFeeds
Feed and nutritional products for cattle, equine, poultry, sheep, swine, goats, and companion animals
Integris Partners advised Northern Agri Holdings, a portfolio company of Lariat Partners, on the divestiture of WestFeeds, LLC, a leading manufacturer, distributor, and retailer of animal feed and nutritional products, to Ridley USA, a subsidiary of Alltech and one of the leading commercial animal nutrition companies in North America.
“WestFeeds has a long history of focus on top-quality nutrition and dedication to western livestock producers. Integris ran a high touch process that allowed Lariat to capitalize on the company’s growth and to combine it with a likeminded business committed to the livestock industry.” – Kevin Mitchell, Managing Partner, Lariat Partners
Continental Control Systems
High-accuracy power meters and current transformers
Integris Partners advised Continental Control Systems, Inc. (CCS) on its sale to Socomec Group, a French based multinational leader in power and energy equipment. CCS, based in Longmont, Colorado, offers high-accuracy power meters and current transformers, and has experienced rapid growth in energy efficiency applications thanks to its strong foothold in the solar industry.
“Stephen van den Heever and the Integris team were critical in helping us achieve our goal of finding the right buyer, allowing CCS to benefit from the resources of a large international organization. Additionally, Integris helped us work through various challenges during the process, freeing our team to stay focused on maximizing shareholder value. We are excited about the growth that this new partnership with Socomec will facilitate.” – Samuel Davenport, CEO of CCS
PF Michigan Group
Re-financing for major Planet Fitness franchisee
Founded in 2007 and headquartered in Northville, MI, PFMG operates 30 fitness centers in the Detroit Metro, Grand Rapids, and Toledo OH markets. The centers collectively comprise over 800,000 square feet of gym space and serve almost 300,000 members. More units will be opened by PFMG during the remainder of 2017 and in coming years.
“With our continued growth, both in our current markets and possibly elsewhere, our primary objective with this recapitalization with Fifth Third Bank was to ensure maximum strategic and financial flexibility. Integris was incredibly helpful in working with us to achieve that flexibility, while also delivering good pricing. Fifth Third has a wealth of experience in the Planet Fitness system and we could not be happier with the result.” – Pete Hopkins, Co-Founder
Bonewerks Culinarte
Chef-inspired sauce products for the food service industry
Integris Partners advised Culinarte’ Marketing Group, LLC (dba “Bonewerks”) on its recapitalization by Kainos Capital. Based in Green Bay, Wisconsin, Bonewerks provides the highest quality glace and demi-glace sauce products for center of the plate entrées, as well as fully-prepared oven-seared sous vide entrées. These products are used in white table cloth restaurants, catered events, sporting venues and hospitality dining.
“Integris ran an efficient and effective process that delivered an exceptional outcome for the business, its investors, and not least for our amazing CEO Tom Sausen. Their hands-on professionalism from start to finish drove results that exceeded my highest expectations. This transaction has truly been the highlight of my career!” – Ed Driscoll, Founder
iGourmet.com
E-commerce provider of specialty foods and gifts
Integris Partners advised Innovative Food Holdings (IVFH) on its acquisition of iGourmet, a leading online provider of high-quality specialty foods and gifts. IVFH provides specialty foods to both chefs and consumers, with a focus on sourcing the highest quality specialty foods and delivering them directly to thousands of professional chefs as well as millions of consumers across the country.
“We are excited about iGourmet, which we believe will further expand our offering into the specialty food market, connecting directly with consumers. We were particularly pleased with the insight and advisory work provided by Stephen van den Heever and Integris Partners and we look forward to working with them on future opportunities.” – Sam Klepfish, CEO of IVFH
Actagro
Agricultural products transaction
Integris Partners recently advised Actagro, LLC, a portfolio company of RedCloud Capital, in its sale to Norwest Equity Partners. Actagro is a leading developer, manufacturer, and marketer of organic acid liquid specialty plant nutrients created through its own proprietary processes. Actagro, based in Fresno, CA, offers products comprised of Actagro Organic Acids®, proprietary organic acid formulations that increase nutrient uptake and availability. Debt financing for this transaction was provided by GE Antares Capital and Madison Capital Funding.
“The Integris team understood both the intricacies of our product and the unique dynamics of the plant nutrient business,” said Carl Ueland, President of Actagro. “Their familiarity with agricultural chemistry and the relevant market players afforded us the opportunity to engage the strong interest of an array of potential investors who had a deep knowledge our sector and shared our enthusiasm for the industry.”
Kevin Mitchell, a Partner at RedCloud, added “Integris delivered a tremendous and high quality new partner for the Actagro team, as well as a great result for RedCloud and its investors. The team at Integris created and met a highly aggressive timeline, closing in less than four months after commencing the calling effort, while at the same time exceeding our expectations for a successful outcome.”
Actagro is headquartered in Fresno, CA and operates manufacturing plants located in the San Joaquin Valley, CA and on the Mississippi River near Memphis, TN. The Company delivers product both domestically and internationally through the industry’s largest distributors.
Colorado Customware INC
Government software transaction
Integris Partners recently advised Colorado Customware, Inc. of Fort Collins, Colorado on a strategic transaction, which has helped position the Company for a step change in growth. The transaction was sponsored by Vision Appraisal Technology Holdings, Inc (“Vision Appraisal”), a portfolio company of Gemini Investors.
For more than 20 years, Colorado Customware (“CCi”) has provided governmental clients across the country with a fully integrated property tax assessment and collection system. With the release of its newest software, CCi has started a new era of interactive visualization by combining a rich user interface with live data integration to create a complex, yet intuitive property tax management application for both public and private sector users.
“Integris Partners has been an integral part of our Company’s continued growth and development over the years,” said Lori Burge, founder and CEO of CCi. “Integris helped us identify ways to build the value of our Company and helped position the business for the continued growth we are experiencing. Over the last 5 years CCi has made a huge investment in rewriting its platform product, and this partnership with Vision Appraisal gives us the capital resources and bandwidth to further accelerate the penetration into our core markets. Integris Partners was more than an investment bank to our Company,” said Burge. “They were truly a partner that cared about our people, our culture, and about attaining the best result for our owners and the organization as a whole”
“Integris Partners played an integral role in positioning CCi in a way that helped us quickly get our arms around the strategic benefits it would have to Vision Appraisal, allowing for an expansion of best practices across both companies,” said Michael Comer, CEO of Vision Appraisal.
Fast Cash Pawn
Alternative consumer financing transaction
Integris Partners recently advised LTS, Inc., d/b/a Fast Cash Pawn, of Denver, CO, on the sale of the Company to First Cash Financial Services, Inc. (NASDAQ: FCFS), based out of Arlington, TX. This transaction was valued at approximately $46,000,000 and includes the sale of Fast Cash Pawn’s 16 locations, which are based in Denver and the surrounding markets.
“The Integris team had an in-depth understanding and knowledge of our unique market space, and as a result, was able to position our Company and business in a way that drew significant attention from a number of parties interested in the pawn and alternative consumer financing business,” said Shane Nowak, former President of Fast Cash Pawn.
“Integris Partners did a great job keeping the various buyers engaged at a time when alternative consumer financing public company stocks showed significant volatility. The speed of the process run by Integris was integral to the success of the transaction, and was a result of their knowledge of our industry,” said David Jensen, former CEO of Fast Cash Pawn.
Fast Cash Pawn is one of the largest alternative consumer financing companies in Colorado, with 16 stores in the broader Denver market. The Company’s pawn operations provide alternative financing to a diverse customer base.
Ameristep
Consumer recreational products transaction
Integris Partners recently advised Ameristep, Inc. on its sale to Synergy Outdoors. Ameristep, established in 1992, is the leading designer and distributor of hunting blinds, tree stands and tree steps. It delivers these products under some of the industry’s most powerful brands, including Ameristep, Bone Collector, Archer’s Choice and Non-Typical. Synergy is a leading manufacturer of game management products, crossbows and related outdoor goods.
“The Integris team understood not only the hunting and shooting industry, but the dynamics of seasonal businesses and the nature of our customers. They used their experience to help our shareholders achieve their goals while delivering a tremendous partner for the future,” said Brett Wehner, Founder and CEO of Ameristep.
Bob Ransom, President of Ameristep, added, “Integris was a terrific partner for Ameristep and its shareholders. While we are experts in the hunting space, the deal world was completely foreign to us. Integris guided us through the process from start to finish with clear, concise advice. They put the right deal in place from a price and terms perspective and made sure we were comfortable throughout the process. Synergy and Ameristep are a tremendous fit. We can’t wait to see what the future holds. We are thrilled to join forces with the Synergy team and look forward to executing our long term initiatives together.”
Ameristep (www.Ameristep.com) is headquartered in Clio, Michigan and delivers its products through the nation’s most powerful sporting goods retailers. The combination of Synergy and Ameristep provides retailers with a one-stop shop for a wide range of their hunting accessory and outdoor product needs.
Kwik Tek
Marine sporting goods accessories
Kwik Tek is the market leader in towables and inflatables, operating under the Airhead and Sportsstuff brands. It also designs and distributes wakeboards, water skis, kneeboards, life jackets, waterproof cases, protective fenders, and tow ropes. The company’s products are marketed through marine distributors, mass retailers, and sporting goods and outdoor chains. The company was recapitalized by Guardian Capital Partners in a competitive transaction process run by Integris.
“The Integris team was a long-term advisor for my business. They worked with me over several years on various strategic initiatives designed to enhance the company’s appeal as an investment proposition. This work allowed all of our shareholders to achieve a great financial result, and for me to continue in my role as CEO while maintaining a significant equity position going forward.” – Aaron Kramer, CEO of Kwik Tek
Backcountry Access
The top brand of snow safety products
BCA offers tracker beacons, float airbags, shovels, probes, bindings, stash packs, and other products to enhance the user’s safety in the backcountry snow environment. The brand stands for products developed “by skiers for skiers”, and the company’s technology is sought out by leading retailers, outfitters, guides, and agencies. The company has also been a leader in snow safety education. BCA was acquired by K2 Sports, a division of Jarden Corporation.
“Having Integris working alongside us gave us the confidence that we would fully achieve our objectives in setting out on this process. They also reduced the stress on our team while helping us to secure a great result and position the company for the future.” – Bruce “Bruno” McGowan, Co-Founder and CEO
Integrated Airline Services
Major combination in the airfreight handling industry
Based in Dallas, TX, IASAir provides handling services to air carriers including scheduled freight and passenger airlines, express parcel companies, and the United States Postal Service. The company operates out of 41 locations with over 1,500 employees. IASAir was sold to Cargo Airport Services, LLC (CAS), a portfolio company of ICV Partners. The combined business ranks as the largest North America–based airline handler by locations, and is present at all US gateway cargo airports.
“Our industry is consolidating, and customer demands on service providers like IASAir continue to grow. My management team under President Tom Wheeling is an excellent one, but it was inevitable that the time would come to join a larger group. With their knowledge of the transportation industry, Integris was able to present our strong market position to the universe of potential buyers, and the match with CAS is an excellent one. I am very pleased with the result.” – Harry B. Combs, Jr., founder of IASAir
Leisure Trends Group
Retail market intelligence for the sports and recreation industries
LTG, based in Boulder, Colorado, tracks and analyzes point-of-purchase data from retailers across regional and national sporting goods and outdoor chains, independents, and online merchants. Covered sectors include cycling, paddle sports, running, ski, snowboard, camping, hiking, climbing, performance outerwear, sportswear and footwear. The company was sold to NPD Group, a leader in retail tracking and retail intelligence, with the combination covering 26,000 retail doors in the sporting / outdoor industry alone and providing the most comprehensive sales information in the industry to retailers and brands.
“Integris was absolutely key to making this all happen. They achieved a great result for me personally and a tremendous new home with NPD for our staff and customers. They positioned LTG well, their team was always available, and they skillfully navigated me through the details of my first-time business sale.” – Joy Spring, Owner
Northern Seed / Lariat
Distributor of certified wheat, barley and other cereal seed, and associated services
Headquartered in Montana, the Company distributes cereal seed types through its four seed processing facilities and offers seed treatment and conditioning services to growers to reduce disease and significantly enhance yields. Integris advised Lariat Partners of Denver on acquiring the company, which is led by Ron Ueland, previously Executive Vice President of United AgriProducts, a major division of ConAgra, and President of WestBred, Inc., a leading genetic seed company acquired by Monsanto. Lariat has extensive history in developing and growing specialty agricultural businesses.
“Integris delivered exactly the type of opportunity we were looking for. We were seeking a unique agricultural enterprise with significant growth opportunities and a management team to execute on them. Whenever we needed assistance, Integris was there with their experience and knowledge of the agribusiness industry, which is second to none in the middle-market.” – Kevin Mitchell, Managing Partner, Lariat
Envirotech
Distributor of ice melt and dust control products
Innovative, Ltd. is the leader in providing road solutions for Ontario and Eastern Canada. For many years it has been the leader in the importing, processing, and distribution of ice melt and dust control products. The transaction involved the sale by EnviroTech Services of Greeley, Colorado of its interest in Innovative. EnviroTech is the US leader in road solutions, providing de-icing, anti-icing, dust control, soil stabilization, and erosion control products and services. The Company has proprietary products for both de-icing and dust control and has established itself as a leading innovator of environmentally safety road solutions.
“Integris advised us on our initial investment in Innovative, and their relationship with our partner and knowledge of the business played an integral role in our successful exit. Besides achieving an outstanding value for the business, we were also able to negotiate a supply agreement utilizing our market-leading technology to manufacture and distribute value-added, higher performance products in the Northeastern US and Canada.” – Roger Knoph, President of EnviroTech
Equipment Parts Wholesale
Market leader in replacement parts for aerial lift equipment
Headquartered in Fresno, CA, EPW sells replacement parts for aerial lift equipment in the United States and distributes parts internationally. The company also manufactures and sells component parts, safety equipment, and related supplies. EPW was sold to TVH Group of Belgium, the leading global distributor of replacement parts and supplies for the materials handling and industrial equipment industry, particularly for forklifts, aerial lifts, and related parts, serving customers in 172 countries through strategically located distribution facilities throughout the world.
“Integris did a great job for us, from the initial contact to closing. Their experience with international merger and acquisition transactions played an integral role in our successful sale. In addition to achieving an outstanding value for the business, we were able to exit with minimum future obligations.” – Richard Spencer, Chairman of EPW
National Meter and Automation
The largest distributor of flow measurement products in the Western US
National Meter distributes to tens of thousands of water utility industry customers from its locations in Arizona, California, Colorado and Kansas. The Company’s products comprise some of the industry’s most advanced water meters and communication modules, including systems from Badger Meter, Itron and Flowpoint Systems. This transaction represents Badger Meter’s acquisition of one of its largest distributors, and its further integration of the water utility channel.
“The Integris team helped us to achieve our financial goals and to consummate a successful transaction with a trusted partner in Badger. The dynamics of the water sector in the Western US mean that busy times will continue across our extensive footprint.” – Noel Frakes, CEO of National Meter
Blue Moose of Boulder
All-natural dips and spreads, including hummus, salsas, cheese spreads and pestos, sold under the Blue Moose and Ciolo brands
A subsidiary of the Sartori Company, a leading national provider of artisanal cheeses, Blue Moose of Boulder sells its products to natural, conventional, and club stores, as well as to selected food service accounts. Blue Moose has received numerous awards for its innovative products. The acquirer was DWF Capital Holdings, whose leadership includes Ed Shirley (former CEO of Bacardi and former Vice Chair of Procter & Gamble) and Dan Fink (previously on the executive and board levels of Bacardi and Richelieu Foods).
“Given its strong growth prospects, we decided that Blue Moose needed additional talent and resources outside of Sartori’s core business. We remain excited about the business and will maintain a significant minority ownership stake. Integris got us a terrific result in finding a partner aligned with our values that wanted to continue to operate the business in Colorado.” – Bert Sartori, General Manager of Blue Moose
Cabela’s Outdoor Adventures
The nation’s premier hunting, fishing, and experiential travel business
Cabela’s Outdoor Adventures connects outdoor enthusiasts with a wide roster of outfitters in North America and internationally, assisting with trip selection, logistics, and the application process for securing tags to limited-entry hunts across a range of states and species. It operates out of Cabela’s stores, catalogues, and online. Integris Partners advised on the sale of the business to Worldwide Trophy Adventures, a travel agency business run by hunting entrepreneur Mark Peterson, who also leads other hunting services and media properties such as Destination Extreme.
“In setting out on this process, we wanted to find an excellent new home for our world class staff, a buyer that would continue to serve the Cabela’s customer base professionally, and a financial result that reflected the value of this business and its position in the market. The team at Integris, with their knowledge of the outdoor industry and attention to detail, was able to fulfill all these expectations.” – Ralph Castner, CFO of Cabela’s
LMS Bearings
Customized power transmission products sold to original equipment manufacturers
LMS’ product range includes various specialized bearings, machined parts, sprockets, chains, gears, motors, belting, and other mechanical power transmission components, typically provided in long production runs. The company is known for its engineering excellence and superb customer service. Integris Partners advised LMS in its sale to P.T. International Corporation, a supplier of European and American standard industrial power transmission products, and a portfolio company of Tonka Bay Equity Partners.
“I wanted a buyer who understood our unique value proposition to customers, would provide a platform for our talented staff to prosper, and fully valued the exceptional business we have built. I am grateful for the process Integris Partners ran to hit all of these objectives.” – Jeff Weiss, Owner
Mayo Welding Services
Natural gas infrastructure services transaction
Integris Partners recently advised Mayo Welding Services, Inc. of Berthoud, CO on its sale to Hettinger Welding, LLC, a portfolio company of Clearview Capital, LLC.
“Integris Partners did a great job educating us, preparing the company, and leading us through the process – we could not have done it without them. We feel they really helped secure full value for the Company,” said David Mayo, co-owner of Mayo Welding Services.
Mayo is the third add-on acquisition for Hettinger, which is a leading provider of construction and maintenance services for customers building natural gas infrastructure in the Rocky Mountain region. The combined company offers the following services to the natural gas, utility and mining industries: 1) facility construction and welding, including instrumentation and electrical work 2) fabrication of compression stations, meter skids and vessels 3) pipeline installation 4) excavation operations including facility site preparation, water containment ponds, roads, and pipeline right of ways 5) crane operations and 6) horizontal directional boring.
Mayo extends Hettinger’s service offering with a fully staffed engineering department and core expertise in steel pipeline construction. The acquisition adds to Hettinger’s management depth and geographic reach, and creates a fully integrated engineering, procurement, and construction company unique to the natural gas industry in the Rocky Mountain region. The Mayo team will continue to direct the field services, fabrication and engineering activities from their Denver-based locations. Certain of the Mayo selling shareholders reinvested in Hettinger.
“Integris Partners served their client well and helped ensure that the transaction closed in a short period of time after we were selected as the preferred bidder. The diligence process was smooth and there were no surprises,” said Paul Caliento, Partner, Clearview Capital, LLC.
Aptech Engineering Services
INFRASTRUCTURE ENGINEERING SERVICES TRANSACTION
Integris Partners recently advised APTECH Engineering Services, Inc. of Sunnyvale, CA on its sale to Intertek Group plc (LSE: ITRK), which closed in February 2009.
“Integris Partners worked with us over many months to enhance the value of our business and to prepare us for the rigors of a controlled-auction process. They garnered strong interest from potential acquirers around the world and helped us to achieve full value for our unique market position and experience in asset integrity management, facility design review, and forensic engineering assignments for the energy industry,” said Geoff Egan, Chairman of APTECH. “We secured the right new ownership that understands our business and is committed to our growth.”
APTECH is an internationally recognized engineering consulting company providing engineering and litigation support to asset owners and their insurers. The company specializes in high technology solutions relating to the operations, safety and integrity of physical plant and equipment through the design, construction, commissioning, and operational phases of a facility. These include power generation, petrochemicals operations, pipelines, and various other industrial assets such as tunnels, water and gas distribution plant, etc. The company was founded in 1979 and owned by its senior engineers.
Intertek is a leading provider of quality and safety solutions, including auditing and inspection, testing, quality assurance and certification, to a wide range of industries including textiles, toys, electronics, building, heating, pharmaceuticals, petroleum, food and cargo scanning. Its businesses operate a global network of more than 1,000 laboratories and offices with over 23,000 people in 110 countries around the world. APTECH will form a core part of Intertek’s Industry Services division.
“As seems to be the case with middle-market companies all through our economy, the last few months presented some new challenges for us. Integris Partners was proactive and creative in helping us address the issues, and worked to ensure that these challenges didn’t adversely impact the sale process. Their approach of senior execution and attention to detail really made the difference and we are delighted with the result,” said Stephen Anderson, APTECH CEO.
Keyline Graphics
Printing and digital imaging transaction
Integris Partners recently advised Vision Graphics, Inc. on its acquisition of Keyline Graphics, Inc.
“Integris served as more than just my investment bank, they were true partners in this process. They developed a tight, focused list of potential targets and evaluated the possible synergies of each acquisition expeditiously,” said Mark Steputis, President of Vision Graphics. “They managed the negotiation and streamlined due diligence so I could continue to operate Vision Graphics and prepare for the integration process. They also helped me finance the acquisition in a responsible manner, which was far from easy in this market. This transaction further expands Vision’s regional and national footprint, and we’re excited to add Keyline’s technical and customer service capabilities.”
“Given the condition of the general economy, and more specifically, the competitive dynamics of the printing and imaging industry, it was the ideal time for Vision Graphics to evaluate strategic acquisitions,” said Steve van den Heever, Managing Director at Integris Partners. “We were able to eliminate a great amount of deal risk for both sides by closing within 30 days of signing the LOI, which was quite an achievement given the rigorous diligence procedure that was undertaken and the tight credit market.”
Vision Graphics, Inc. is a leader in sheet-fed printing and digital imaging services in the Rocky Mountain region. The Company provides a full range of business marketing support services, including 1:1 marketing, variable data, web-to-print, digital and sheet-fed printing, UV, large format, mailing, fulfillment and more. Vision Graphics works with clients across many industries including high-end manufacturing, design, communication, maps, retail, financial services, healthcare, hospitality and government.
J.D. Clark & Co.
Hedge fund services transaction
Integris Partners recently advised J.D. Clark & Co., Inc. of Ogden, Utah on its sale to UMB Fund Services, Inc., a subsidiary of UMB Financial Corporation (NASDAQ: UMBF). This is the fourth transaction closed by Integris Partners in 2009.
“The Integris team brought the expertise necessary to work with a public-company buyer and helped us to achieve full value for our unique market position and experience in servicing the hedge fund industry,” said Jeff Clark, CEO of J.D. Clark & Co. “Integris focused not only on price and terms, but also on our team’s role in post-transaction operations and integration. By supporting me in my broader objectives for a sale, Integris helped to structure both the deal and the new entity in a manner that will maximize the benefits for all involved.”
“Aligning J.D. Clark & Co., with UMB Fund Services, Inc. gives our client the platform and resources necessary to continue the company’s aggressive growth and places the combined businesses in the top quartile of service providers to alternative investments in the U.S.,” said Patrick Seese, Managing Director at Integris Partners.
J.D. Clark & Co. is a leading third party hedge fund administrator with $18.5 billion in assets under management. Based in Ogden, Utah, the company manages all components of accounting, tax and regulatory compliance, client reporting, and other advisory services for the hedge fund industry.
UMB Fund Services, Inc. offers a complete line of products and services to the fund industry including administration and fund accounting, alternative investment services, investor services and transfer agency, marketing and distribution. UMB Financial Corporation (NASDAQ: UMBF), the parent company of UMBFS, is an $11 billion financial services holding company headquartered in Kansas City, Mo. offering complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide.
Custom Blending
Food Ingredients Transaction
Integris Partners recently advised Custom Blending, Inc. of Fort Collins, CO on a recapitalization transaction which enabled its management team to acquire 100% ownership of the business. Funding for the transaction was provided by JPMorgan Chase. This recent assignment is another in a long history of food-related transactions undertaken by Integris.
“Integris Partners, led by Stephen van den Heever, helped us to present our company’s defensibility as well as its strong growth opportunities to a wide range of potential financing partners and delivered a tremendous outcome for us,” said Dan Berlin, co-owner of Custom Blending. “Through this transaction, we have a financial partner that is supportive of our new product development and overall growth plans.”
Custom Blending is a high quality manufacturer of food ingredients, spices, and flavorings, as well as specialty “healthy living” products. It is well known for its Rodelle® branded vanilla products, the 2nd largest and fastest-growing vanilla brand in the USA. Custom Blending also supplies a variety of branded and private-label flavorings and spices sold through major national retailers, as well to food service and industrial customers. The Company recently launched its “Harmony Valley®” brand of healthy living dry food products. Custom Blending is in the process of accelerating its product development and taking advantage of its new, purpose-built 32,000 square foot manufacturing facility.
“The way Integris led our process of selecting a financial partner, we weren’t just being measured in the market by our financials and assets, but also in terms of the depth of our management team and its tenure in the food industry. For all we read about the lack of availability of credit, we feel tremendously pleased about the capital structure and terms that we have been able to put in place and the financial strength we have going forward,” said Joe Basta, co-owner.
“We were advised by folks who know their business. The nature of this transaction required Integris not only to look at our current strengths and historic performance, but also to help us look into the future as we projected both operational and financial goals and performance,” said Scott Sliski, co-owner of the Company. “The Integris team brought operational expertise as well as investment banking skills to the table.”
Galesburg Order Buyers
Agribusiness transaction
Integris Partners recently advised Galesburg Order Buyers (dba GrainStore, Ltd.) on its sale to Gavilon Grain, LLC. GrainStore, based in Galesburg, Illinois, is a leading merchandiser of agricultural commodities (principally corn and soybeans) handling a significant proportion of the total production of these crops in Western Illinois and serving a wide range of customers in the food processing, ethanol, and export markets. Gavilon is a global commodity management firm which is indirectly owned by Ospraie Special Opportunities Fund, General Atlantic, Soros Fund Management and Gavilon management. This sale is only the most recent in a long history of agribusiness transactions led by Integris Partners.
“Integris did a great job for us,” said Marty Anderson, President of GrainStore. “I don’t get the sense there are too many investment bankers who understand the grain merchandising business, and what differentiates one company from another in this industry. The Integris team, led by Bill Eastwood, was able to articulate our company’s unique attributes and generate a true business value for us based on our earning power. Through a focused competitive sale process, they put us together with the right partner to help us take this business to a higher level. We couldn’t have done it without them.”
“We received informed, objective advice every step of the way,” added Randy Anderson, Vice President Finance. “Integris was able to demonstrate how GrainStore is well-positioned to take advantage of increasing crop yields, investor interest in commodity inflation hedges, our strategically located physical assets, and our qualified and dedicated team. Integris brought a range of relevant potential acquirers to the process and we are delighted with the outcome. We are excited about becoming part of the Gavilon Group as we have a remarkably congruent vision of the opportunities ahead of us.”
Since 1962, GrainStore has been owned by members of the Anderson family. Terms of the transaction were not disclosed.
Accruit
Business Services Transaction
Integris Partners recently advised Accruit, LLC on the sale of its Like-Kind Exchange software technology platform “PEAK” to PricewaterhouseCoopers LLP (PwC) and simultaneous entry into a Joint Business Relationship with PwC for on-going development of the corporate high-volume exchange market served by PEAK and by PwC’s own technology platform in this area, e-LKE. Accruit is a leading provider of Qualified Intermediary (QI) services for like-kind exchanges, a type of transaction that enables owners of real or personal property to enjoy certain tax advantages under Section 1031 of the Internal Revenue Code. PwC is a professional services firm providing audit and assurance, tax and advisory services. This transaction is the most recent in a series of business / financial services engagements completed by Integris Partners.
“This was a very complex situation, and we are delighted that we had Integris working with us,” said Brent Abrahm, President of Accruit. “We were confident from the start that PwC was the right group for us to join forces with in this part of our business, but making sure that a transaction combined compelling economics at closing as well as setting up the right incentives for all parties to grow this market was actually quite a nut to crack. Integris helped us to structure things in a way that makes us incredibly bullish about the opportunity going forward,” said Abrahm.
“We operate in a niche area of the tax and business services industry,” added Juan Perez, CFO of Accruit. “Integris was able to help us demonstrate both the quality of our existing client relationships and the areas for further growth at both the large and middle-market ends of the potential client universe. At the same time, we retain a tremendous opportunity to grow Accruit’s non-program or “one-off” exchange business that is not included in this joint business relationship with PwC.”
Since 1999, Accruit has been a leader in innovation and service in like-kind exchange business, handling transactions involving both real and personal property for corporate customers. Accruit has financial backing from private equity firm Inter-Atlantic Group. Terms of the transaction were not disclosed.
Northern Colorado Paper
Distribution transaction
Integris Partners recently advised Northern Colorado Paper, Inc. in its sale to Interline Brands, Inc. (NYSE: IBI). With headquarters in Greeley, Colorado, NCP is a leading distributor of janitorial, sanitation, and other paper supplies to the healthcare, education, food-service, manufacturing and service sectors along the Front Range from New Mexico to Wyoming. Interline Brands, headquartered in Jacksonville, FL is a leading national distributor and direct marketer of a range of products to the maintenance, repair and operations industry. This transaction is the most recent of a number of distribution industry engagements completed by Integris Partners.
“Integris Partners was a valued partner to us throughout this process,” said Tim Ward, CEO and owner of NCP. “We were a private company that operated independently for 32 years and had no experience with M&A. Integris helped us from start to finish, in terms of finding the buyer, negotiating sale terms and coordinating the entire process with our other advisers. Due in no small part to their efforts, NCP has a great new home and we are excited about the future.”
Randy Hocking, NCP’s CFO, added “Integris was able to help get us prepare for the diligence process and present our materials in a professional manner. With us being a fairly traditional private company, and the buyer being a public company with their specific reporting requirements, I’m glad that we had Integris alongside us to help us navigate this dynamic.”
Magpul Industries
Consumer products transaction
Integris Partners recently advised Magpul Industries Corp, the leading branded designer and manufacturer of accessories for the firearms industry, in a recapitalization transaction. Magpul, based in Erie, CO, is known for its high-performance, polymer-based products including magazines, stocks, sights, grips, slings, and many others, used by civilian enthusiasts, law enforcement, and militaries around the world. This transaction, the most recent of a number of consumer products engagements completed by Integris, was sponsored by Bruckmann, Rosser, Sherrill & Co. and Magpul’s management, with debt financing provided by SunTrust Bank, Regions Bank, and Triangle Capital Corporation.
“Integris was a terrific advocate, immediately became an extension of the Magpul team, and guided us effectively through every step of the process,” said Richard Fitzpatrick, President of Magpul. “They brought us a great partner who shares our vision and our values, and on terms that worked for us. Magpul has some incredible new products and entire product lines in the works, and with BRS as our new partner, we are confident that our differentiation in the market will only increase. We are eagerly looking forward to SHOT Show 2012.”
Doug Smith, COO, added “Magpul has always prospered by innovation and by rejecting convention. Integris immediately understood what makes us unique within our industry and helped position us effectively with the private equity community. Going forward, we are well placed to grow further with our OEM partners, our distributors, and end users. We couldn’t be more excited.”
Bruce Bruckmann, who led the BRS team, commented “In my almost three decades of private equity investing, I have rarely if ever seen an investment bank with such thorough understanding of its client, and such fanatical attention to detail. The guys at Integris were instrumental in bringing this all together.”
Since 1999, Magpul (www.magpul.com) has been developing innovative, mission-driven products featuring enhanced functionality, performance, and style.
