The majority of the sell-side transactions were strategic or synergistic; with the balance consisting of sales to private equity groups or private investors. Even though a majority of Acquisitions Northwest's clients are located in the Northwest, the firm has represented international clients as well as projects located throughout the U.S.
The following reflects a small number of the firm's overall list of completed transactions, that will provide an insight to the type of projects represented by the firm.
Accounts receivable management (ARM) and revenue cycle management (RCM) software and services providers, Ontario Systems® and Columbia Ultimate Business Systems®, both of which are market leaders in their industry, are now under one umbrella upon the acquisition of Columbia Ultimate® by Ontario Systems®. The combination will strengthen their overall product sets and presence in government, healthcare and the collections industry and provide a broader set of compliance consulting services to their customers. Both Ontario Systems® and Columbia Ultimate® are well-known brands in the ARM market, with each holding distinct market leadership positions in adjacent verticals.
Headquartered in Muncie, Indiana, Ontario Systems® provides RCM software and services to the healthcare market, captivating a majority of the top health systems in the U.S. as customers and actively managing more than $40 billion in receivables with its products. Headquartered in Vancouver, Washington, Columbia Ultimate® serves more than 100 state and municipal government customers in nearly 30 states and has a very strong presence in the collection agency sector.
ACQUISITIONS NORTHWEST (“ANI”): ANI was engaged by the founder and owner of Columbia Ultimate® to work with the senior management team to explore candidates in the software industry that would be the best fit for the company’s employees and customers in the future. ANI researched the software industry, and in particular, private equity groups with strong software depth in their portfolio companies, to determine who would make the best financial partner for Columbia Ultimate®. After extensive discussions with a number of highly-qualified firms, the management team chose Ontario Systems®, which is a portfolio company of Arlington Capital Partners in Chevy Chase, Maryland.
METRO MACHINERY AND RIGGING has been one of the dominating rigging firms in the Portland metro area since being founded in 1982. The company specializes in moving and placing heavy machinery for major manufacturers and for machine tool dealers.
AXIS CRANE is one of the significant crane and rigging companies in the Northwest, servicing contractors, government entities and blue-chip customers with one of the largest crane fleets in Oregon and Washington. The company specializes in crane rental, rigging, pile driving and heavy hauling. The Axis Crane headquarters are in Portland, Oregon.
WESTWARD PARTNERS, a Seattle-based private equity firm, was founded in 2010 by three partners who have extensive experience in the Northwest private equity and investment banking industry. In addition to Axis Crane, the firm has eight other portfolio investments located in the Northwest U.S. and in Western Canada.
ACQUISITIONS NORTHWEST, INC. was engaged to represent the shareholders of Metro Machinery and Rigging, Inc. in securing an acquirer that would continue the excellent service reputation of Metro and to accomplish the owner’s exit strategy. The engagement was noteworthy in the fact that Acquisitions Northwest was involved in the sale to the current shareholders in 1990.
DREAMSACKS, INC. dba YALA, founded in 1999 by Nancy, Chelsea and Larry Morgan, was one of the early producers of bamboo fabric for bedding and apparel in North America. The company creates stylish, comfortable and affordable apparel and bedding from bamboo and other natural fibers using sustainable practices for the conscientious consumer. Yala products are sold throughout North America primarily through boutique bedding and apparel retailers.
YALA ACQUISITION COMPANY is led by Kathrin Platt Gonsalves, an industry veteran who has guided the operations of large retailers in addition to her experience helping small firms determine strategies and develop branding. Prior positions include Senior Director of financial planning and inventory management for the Online Home & Family business unit for Wal-Mart, director at Gap, Inc. overseeing merchandise planning for U.S. women's store division, and most recently, senior management position at Burley Designs, a worldwide leader in child bicycle trailers.
ACQUISITIONS NORTHWEST, INC. was engaged by the Morgan family to identify potential acquirers of DreamSacks who would be ideal for growing and expanding the Yala brand in the future through various channels of distribution. In addition, the Morgan family was desirous of accomplishing an eventual exit strategy, however, the family will remain involved with the company going forward.
PRECISION MACHINE & MANUFACTURING, INC. (PMM) is an innovative and quality-focused manufacturer of a wide range of proprietary rotary valves, feeders and screw conveyors serving Fortune 500 customers in more than a dozen industries nationally. See: http://www.premach.com
SOCIUS CAPITAL is an independent private equity sponsor that focuses on recapitalizations of businesses in the lower middle market. Companies of interest typically have an in-place management team that needs an active financial partner to help the business achieve its growth objectives. The firm operates from offices in Idaho, Florida and Georgia. See: http://www.sociuscapital.com.
THE CENTRAL VALLEY FUND ("CVF") was established in 2005 to provide private capital for small to mid-sized businesses. CVF’s capital is used to finance later stage growth and expansion, strategic acquisitions, ownership transitions, and recapitalizations. CVF generally provides subordinated debt or preferred equity. CVF has offices in Davis and Fresno, California. See: http://www.centralvalleyfund.com
ACQUISITIONS NORTHWEST, INC.'s objective in this project was twofold: Jim and Colleen Miller, owners of PMM, had brought in Kirk Morton in 2011 to assist in sales expansion and to effect an eventual transition plan. In 2013, the Millers engaged ANI to accomplish the sale of the Company on acceptable terms and conditions for them personally while at the same time, structuring a sale where Kirk and Jo Morton could partner with financial partners that would have the same vision that they envisioned for growth, operations and culture. A number of discussions occurred with several very qualified private equity groups, culminating with the fact that the combination of Socius Capital and CVF Fund II were the best fit for PMM, the Mortons, and the Millers.
OWEN EQUIPMENT is an exclusive, multi-state dealer (Washington, Oregon, Northern California and Northern Nevada) for several lines of sophisticated maintenance equipment for municipal, governmental, industrial and commercial customers that are focused on servicing infrastructure and environmental needs. Owen is one of the top five dealers in North America for Federal Signal Corporation, representing two of the industry-leading equipment lines in the world (VACTOR, which manufactures sewer cleaning, hydro-excavation and catch basin cleaning equipment and ELGIN sweepers). Owen also represents several other manufacturers of equipment that is utilized by the same customer base. The Company provides integrated solutions as well as the sale of parts and tooling, service and repair, equipment rentals and training as part of a complete offering to its customer base.
PROSPECT PARTNERS is a leading lower-middle-market private equity firm based in Chicago. Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of middle-market companies with niche strategies. Prospect Partners manages three funds approximating $500 million and is backed by a premier group of institutional investors.
ACQUISITIONS NORTHWEST, INC. was engaged by Owen Equipment to explore potential candidates to partner with Earl Rose and the Owen Equipment management team to assist them in dramatically growing the company internally and by acquiring additional dealers over the next few years. Acquisitions Northwest has been a leading boutique M&A advisory firm for nearly 40 years, representing privately-held companies whereas owners are seeking an exit strategy or recapitalizations to access growth capital, whether with private equity groups or strategic acquirers.
Irrigation Components International, Inc. ("ICII"), a worldwide value-added wholesale distributor, OEM supplier and manufacturer of strategic mechanized and electrical components to domestic and international agricultural irrigation markets has recently been recapitalized by Prospect Partners, LLC.
ICII, based in Daphne, Alabama is one of the only distributors worldwide that offers parts to dealers that generally represent major pivot or mechanized equipment manufacturers. ICII is dominant in the sale of power transmission products and spare parts in the international markets, representing various manufacturers on an exclusive basis, such as Durst and US Motors. ICII has an exclusive relationship in Ag markets with Seametrics, a manufacturer of electromagnetic flow meters. ICII is also a manufacturer of their own Hydrus brand proprietary controls.
Prospect Partners is a leading lower-middle-market private equity firm based in Chicago. Prospect Partners focuses exclusive on management-led leveraged recapitalizations and acquisitions of middle-market companies with niche strategies. Prospect Partners manages three funds approximating $500 million and is backed by a premier group of institutional investors.
Acquisitions Northwest, Inc. was engaged by ICII to explore potential candidates for the purpose of partnering with ICII to assist management in dramatically growing the company over the next few years. This is the fourth major project in the agricultural irrigation industry that ANI has completed over the last several years.
Inovec is a leading manufacturer of optimization systems focusing primarily on small log mills. Inovec's flagship product is the YieldMaster, a headrig carriage optimizer that has become the industry standard for log scanning. Inovec was founded in 1980, acquired by InVision Technologies in 2000 and then became a GE subsidiary in 2004.
ANI was engaged by General Electric to represent the company in divesting Inovec, Inc. for the General Electric Industrial, Security business group. ANI prepared offering materials, strategically researched the industry, monitored due diligence and assisted in negotiations, resulting in a sale to USNR. USNR is the largest manufacturer of sawmill equipment in the United States. Their brands include Perceptron, HEMCO, Irvington-Moore, Kockums, Schurman, and Lunden. This was the eighth manufacturer in the wood products equipment industry that ANI consummated.
Wade Micro Irrigation Division, located in Fresno, California, is a manufacturer of low-flow irrigation products for commercial and agricultural markets including pulsators, emitters, tubing and bubblers.
ANI was the advisor to the shareholders of this division, orchestrating the sale process to potential acquirers. The division was purchased by Agricultural Products, Inc., a subsidiary of Summa Industries of Torrance, California, which also manufactures commercial and agricultural irrigation systems. This was the third manufacturer of irrigation equipment that ANI consummated.
American Freight Systems, Inc. (AFS) is a northwest regional drayage firm that specializes in the transport of export and import containers through the ports of Seattle, Tacoma and Portland. At the time of sale, the company was one of the largest trucking firms moving containers throughout the Northwest and was a major carrier companies such as Fred Meyer, Lowe's, Nike, and Land O'Lakes.
ANI served as the exclusive advisor of AFS and designed and prepared offering materials, researched the industry and handled negotiations. AFS was acquired by RoadLink USA, Inc., the largest private, independent North American intermodal logistics service provider, delivering individual and integrated transportation and warehouse freight handling solutions.
Advance Equipment Company, located in Olympia, Washington, develops and manufactures downstream machinery (belling machines, saws, pullers and bundlers) for the PVC pipe industry. The company was founded by Richard E. Hoverter in 1978. The President, Dick Hoverter, will remain with AEC after the sale. AEC was acquired by Plastics Extrusion Machinery, Inc. of McPherson, Kansas, a manufacturer of plastics extrusion machinery and related equipment similar to AEC’s product line, but focused on larger diameter pipe. The combined companies will be able to offer the industry a full breadth of highly-engineered production machinery.
Experience Oregon One of the largest charter and tour coach companies in Oregon, Experience Oregon, has been sold to one of the largest West Coast charter coach companies, MTR Western of Seattle, Washington. Experience Oregon provides tours and charters through the Western U.S. from their Eugene, Oregon facilities which will be merged into MTR’s Eugene facilities. The company was founded and owned by Bud and Marian Kloster. MTR Western is owned by Seattle Hospitality Group, a holding company of Howard S. Wright III.
Smithco Manufacturing, an OEM supplier, was founded in 1990 to provide specialized air circulation propeller fans for lumber drying kilns and drying sheds. The Company was founded by William Smith, the inventor of adjustable pitch blades and had been owned by Tracy Smith for nearly 20 years. Their propeller fans are sold to the forest products industry around the world and dominate sales in North America. The buyer is the extended Garske family that owns Travis Pattern in Spokane, Washington, the company that provides Smithco with fan castings. The management team remains in place.
McTavish Shortbread, McTavish Shortbread, one of the largest and most popular shortbread manufacturers in America has been sold. The local Portland company, which was founded over 20 years ago, has grown significantly and now ships nationally to major stores such as Whole Foods. Denise and Bill Pratt, the founders who built the reputation of the McTavish brand over the years, wanted to accomplish their retirement strategy which they were able to achieve in their sale to Peter and Karen Wood. The Woods plan to continue expanding the markets that the company sells into.