News

NEWS & ANNOUNCEMENTS

04.18

Periculum Advises Fortis Security Products, LLC. in its sale to BASE Equity Partners and The Frederic H. Mayerson Group

Periculum Capital Company, LLC (“Periculum”) is pleased to announce the sale of Fortis Security Products, LLC (“Fortis” or the “Company”), a portfolio company of Fort Washington Capital Partners and Queen City Angels, to BASE Equity Partners (“BASE”) and The Frederic H. Mayerson Group (“FHMG”). Periculum acted as the exclusive financial advisor to Fortis in connection with the transaction.

Founded in 2004 and based in Greendale, Indiana, Fortis is the second leading firm in the physical security products manufacturing industry, providing solutions to financial institutions throughout the United States. The Company provides a wide range of drive-up security products, vaults, safes, and other cash protection solutions and is known in the industry for its quality, service, and quick turnaround times.

Owned by three founders and a financial sponsor group led by Fort Washington and Queen City Angels, the management team sought to pursue expanded growth while allowing outside investors to realize their current investment. The Company engaged Periculum to arrange a customized solution allowing shareholders to exit, while securing a new investment partner for the management team. Following management meetings with several potential buyers, the Company’s shareholders selected BASE and FHMG as the ideal partners to provide the financial, operational, and strategic support necessary to facilitate the Company’s next phase of growth. With its new partners, the Company plans to invest in additional employees and equipment to expand its product line as well as enter new markets.

One of the founders of the Company, Kirk Williams, reflected on the positive outcome saying, “The Periculum team did an excellent job of identifying potential acquirers and managing the transaction process. This outcome would not have been possible without their experience and expertise.”

01.18

Periculum Advises Tyson Onsite in its sale to WillScot Corporation

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it acted as the exclusive financial advisor to Onsite Space LLC d/b/a Tyson Onsite (“Tyson” or the “Company”) in its sale to WillScot Corporation (NASDAQ: WSC) (“Williams Scotsman”).

Founded in 1967, Tyson is a regional leader in the sale and rental of mobile offices, modular buildings, portable classrooms, and other storage solutions. In 2012, following the economic recession and passing of its then-owner, the Company was acquired by entrepreneurs and industry veterans Brent and Matthew Claymon who saw an opportunity to jump back into the industry they knew well and transform a struggling Company. The Claymons achieved significant growth during their ownership by investing in fleet and equipment, hiring a strong management team, and improving business practices, resulting in a market-leading Company well-known for its quality, capabilities, and service.

After nearly six years of ownership, the Claymons decided to sell the Company to focus on other businesses and investment opportunities, engaging Periculum to run the sale process. While the universe of potential acquirers in the industry was small and well-known, Periculum was able to drive a strong and competitive process, ultimately resulting in the Company’s sale to Williams Scotsman (NASDAQ: WSC) – a large, national competitor looking to enhance its Midwest presence. The Claymons reflected on the positive outcome, stating, “the process went smoothly and Periculum’s experience and knowledge made that happen.”

Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada, and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” Williams Scotsman is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. Williams Scotsman is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security, and energy sectors. With over half a century of innovative history, organic growth, and strategic acquisitions, its branch network includes over 100 locations, its fleet comprises nearly 100,000 modular space and portable storage units, and its customer base has grown to approximately 35,000.

10.17

Periculum Advises JBS United, Inc. in the sale of its western Illinois grain business to Bunge-SCF Grain, LLC.

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it acted as the exclusive financial advisor to JBS United, Inc. (the “Company”) in the sale of its western Illinois grain business (“JBS United Grain West”) to Bunge-SCF Grain, LLC (“Bunge-SCF”).

JBS United’s core business is the research, development, and production of animal nutrition solutions, which has no direct connection to the grain origination and storage business. Given that, and the Company’s desire to significantly grow in the nutrition segment, JBS United decided to divest its grain business to free up management’s time and reallocate funds to additional nutrition research and development.

JBS United selected Periculum to lead the sale engagement because of the firm’s focus, extensive experience, and contacts in the food and agricultural markets. Periculum ran a formal process, focused on both domestic and international strategic buyers seeking entrance or expansion in western Illinois. Following an extensive review, the Company determined that the best candidate to acquire its western Illinois grain operations was Bunge-SCF. Steve Biddle, Vice President of the Grain Group, added, “Through Periculum’s experience, connections, and process we were able to attract buyers with significant strategic interest in our grain assets – both people and facilities. Each deal presents its own unique challenges, but through those challenges, Periculum delivered an outcome that would have been unattainable without their expertise.”

JBS United Grain West is comprised of three grain storage and merchandising facilities located in Griggsville, Pittsfield, and New Canton, Illinois with significant storage capacity and a team of highly experienced grain personnel. The elevators are strategically positioned with access to multiple markets along the Norfolk Southern railroad.

Bunge-SCF Grain LLC, a joint venture between Bunge North America and SCF Agri/Fuels LLC, was created to provide improved infrastructure to serve growing demand for commodities in the U.S. and export markets. The partners include Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), which buys, sells, stores and transports grains and oilseeds to serve customers worldwide, and SEACOR Holdings Inc.’s subsidiary, SCF Agri/Fuels LLC, which specializes in the purchase, storage, transportation and sale of agricultural and energy commodities.

10.17

Periculum Advises DRT Holdings, Inc. in the sale of its Medical Subsidiary to NN, Inc.

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it acted as the exclusive financial advisor to DRT Holdings, Inc. in the sale of its wholly-owned subsidiary DRT Medical, LLC (“DRT Medical” or the “Company”) to NN, Inc. (NASDAQ: NNBR) (“NN”).

DRT Medical was incorporated in 2005 after DRT Holdings entered the medical supply market. Today, the Company is a leading supplier of precision manufactured medical instruments and orthopedic implants to many of the largest global medical device OEMs.

DRT Holdings decided to sell the medical portion of its business to focus on its container and power systems businesses. Periculum was engaged to find a buyer that would not only meet valuation expectations, but also provide the knowledge and resources to continue to grow the Company. Following a targeted marketing process, DRT Holding’s President and CEO, Gary Van Gundy, determined that the best option was to sell the Company to NN. He reflected on the positive outcome, stating, “Periculum did an excellent job of finding a strategic acquirer who was looking for the expertise our company offered in this segment of the medical industry.”

NN is a publicly-traded diversified industrial company based in Johnson City, Tennessee. It combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. NN has 36 facilities throughout North America, Western Europe, Eastern Europe, South America, and China.

03.17

Periculum Advises Phoenix Fabricators and Erectors, Inc in its Partnership with Union Capital Associates

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it acted as the exclusive financial advisor to Phoenix Fabricators and Erectors, Inc. (“Phoenix” or the “Company”) in its partnership with Union Capital Associates, LP (“Union Capital”). Union Capital invested in Phoenix for its future growth prospects, particularly in the composite elevated water tank market.

Phoenix is an industry-leading provider of elevated water storage tanks, commonly referred to as water towers. Founded in 1986, the Company maintains its corporate headquarters in Avon, IN and has an additional manufacturing facility in Sebree, KY. Phoenix has constructed over 5,000 tanks throughout the United States. By employing its own field crews, the Company offers a turnkey solution, including engineering, fabrication, foundation installation, field erection, and painting services, to ensure high quality and timely construction.

In order to continue to expand and maximize its already strong market position, Phoenix was looking for a partner to give them access to additional capital for expansion. Periculum was engaged to conduct a focused search of potential equity investors to partner with the existing management team. Following an extensive process, management determined the best partner for Phoenix was Union Capital.

Jeff Short, one of the founding partners of Phoenix, stated, “I will continue to serve on the Board of Directors and Management Advisory Committee but this is a great opportunity for Tim Yohler, Kurt Fuller, and Jonathan Dixon, a seasoned management team that we trained and promoted and who have over 50 years of combined experience building composite and steel tanks, to partner with an investment team that has an extensive track record of helping private companies grow and expand.” Tim Yohler, President of Phoenix, echoed this sentiment by saying, “In the 23 years I have been at Phoenix, this is the biggest opportunity we have ever had to expand our presence in the elevated water tank market and specifically to continue our momentum in the composite tank market. Phoenix has seen incredible growth during the past five years in this segment, constructing over 50 composite tanks of all sizes, including 30 composite tanks that are over 1 million gallons in capacity. The Periculum team did an excellent job positioning our growth story and identifying quality potential partners. The Union Capital investment will allow us to increase our share in this market substantially.” Bill Ogden, Managing Partner at Union Capital added, “Our team is excited to provide the capital to Phoenix to continue their growth in the elevated water tank market. We were extremely impressed with the reputation of their products and the experience and dedication of Tim Yohler and the rest of the management team. Throughout our nearly 50-year history the key to our success is partnering with great management teams and providing them with the capital to take advantage of market opportunities like the composite tank market.”