Periculum Advises Aerosmith Fastening Systems in its Sale to Spotnails

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it served as exclusive financial advisor to HKN International, LLC dba Aerosmith Fastening Systems (“Aerosmith” or the “Company”), a leading manufacturer and value-added distributor of specialty fastening and anchoring systems in its sale to Peace Industries, Ltd. dba Spotnails (“Spotnails”).

Periculum ran a tailored sell-side process designed to identify a strategic partner aligned with Aerosmith’s brand portfolio, growth strategy, and commitment to ongoing product innovation while supporting the Company’s existing leadership team.

Founded in California in 1967 to produce nailing tools and accessories, Aerosmith’s focus on commercial construction tools and bulk nailing systems led to the development of SurePin® in 1973 and served to fuel its early growth. The Company was sold to Fischer Group in 1990 before subsequently being acquired by HKN International, an industry partnership of Hahn Systems, Kentec, and Nicor, and moving operations to Indianapolis, Indiana in 1997. The past nearly 30 years of ownership by HKN International has allowed the Company to flourish via its core competencies of innovation and product development, developing a suite of branded products within the construction and industrial fastening industry that has fueled the Company’s continued growth. This, paired with Aerosmith’s best-in-class customer service and the introduction of its anchor offerings in 2019, has driven the Company’s global distribution network to rely on Aerosmith as a trusted partner for their customers’ specialty fastener and anchor needs across a broad range of application use cases.

Periculum was engaged to manage a focused sell-side process emphasizing both strategic fit and value. Despite a complex macroeconomic and trade environment, Periculum’s process resulted in a partnership with Spotnails, whose complementary product portfolio and distribution capabilities create meaningful opportunities for cross-selling and accelerated growth. This transaction further underscores Periculum’s deep experience in the fastener and construction supplies sectors, having previously led the sale processes for AMW Construction Supply and Hahn Systems.

“We can’t thank the Periculum team enough for their expertise, advocacy, and commitment to finding the right buyer for our Company. Their leadership and tenacity in executing this transaction in the face of a challenging economic backdrop confirms their reputation as a true investment banking partner to business owners” said Doug Hahn, board member and shareholder of HKN International. “Throughout our merger with Spotnails, Periculum provided the rigorous discipline to process and expert guidance that was essential to our success. Their steady hand ensured every detail was managed with precision, allowing our leadership to focus on a seamless transition for our staff as we join the new organization. We are grateful for a partner that prioritizes both technical excellence and the long-term stability of our team,” added Spencer Jessee, President of Aerosmith.

Krieg DeVault LLP served as Aerosmith’s legal advisor and The Watermark Group served as the Company’s accounting and tax advisor.

About Periculum Capital Company, LLC
Periculum is a leading investment and merchant banking firm serving the corporate finance needs of middle market companies. The firm was founded in 1998 to provide sophisticated financial advisory and transaction services. Periculum is committed to achieving superior outcomes for its clients by delivering customized investment banking services that maximize value while still meeting clients’ individual goals and objectives. The firm’s primary services include M&A, capital markets, and restructuring advisory, as well as specialized merchant banking services.

Periculum Advises Good Earth Lighting in its Sale to Feit Electric Company

Periculum Capital Company, LLC (“Periculum”) is pleased to announce it advised Good Earth Lighting Inc. (“Good Earth” or the “Company”) in its sale to Feit Electric Company, Inc. (“Feit").

Periculum ran a targeted sell-side process focused on finding the right partner that would continue to support the Good Earth brand.

Founded in 1992 by Marvin Feig and Alex Kowalenko, Good Earth was later acquired by its executive team consisting of Brian Coleman (VP of Marketing & Product Development), Greg Forrest (VP of Sales), Chris Serak (VP of Engineering & Global Operations), and T.R. Turner (CFO). In the years leading up to their purchase of the Company, the four executives helped double the size of the business. After purchasing the Company, the team continued Good Earth’s core mission of making environmentally conscious and innovative lighting products affordable and easy to buy, install, and maintain.

Periculum was introduced to the Company by its lender, Old National Bank, who understood the value an investment bank brings in a sell-side process. Good Earth’s executive team engaged Periculum to lead an efficient and targeted process focused on strategic buyers, including those with private equity backing, that would continue to support the brand the Company built over the last 30+ years while maintaining its speed to market and commitment to innovation. Periculum completed the transaction on an expedited timeline, finding the right buyer for the Good Earth brand. As a leading global manufacturer of energy-efficient lighting, home safety, and smart home products across residential and commercial markets, Feit emerged as the perfect partner for the Company. Good Earth expands Feit’s house of brands and adds fixtures to an already robust product catalog.

“Periculum performed a very thorough search for potential buyers and quickly followed up with each buyer to determine their interest. There was a very tight timeline to close the sale, and Periculum diligently addressed every issue and followed up constantly with both Good Earth Lighting and the eventual buyer. The deal closed on-time, and we are very happy with the results,” said T.R. Turner.
UB Greensfelder LLP served as Good Earth’s legal advisor.

Periculum Advises Dealers Wholesale in its Sale to Lacy Diversified Industries

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it served as the exclusive financial advisor to Dealers Wholesale (“DW” or the “Company”), a portfolio company of The Firefly Group (“Firefly”), in its sale to Lacy Diversified Industries (“LDI”).

Periculum executed a tailored sell-side process designed to identify a partner aligned with the Dealers Wholesale management team’s strategic vision and to support the Company’s continued growth.

Founded in Indianapolis in 1963, Dealers Wholesale has built a strong reputation for delivering turnkey solutions across new construction and retrofit markets. The Company serves builders, developers, and general contractors across more than 20 states with a comprehensive product portfolio including commercial doors, frames, hardware, electronic access control, and residential hearth and outdoor living products.

The Firefly Group, a Midwest-based private investment firm with offices in Indianapolis and St. Louis, acquired Dealers Wholesale from its second-generation family owners in 2016 and partnered with the existing management team to drive expansion across product categories, service offerings, and geographic reach. Jimmy Rayford, CEO of Dealers Wholesale, was hired in 2020 to lead the Company into its next phase of growth, more than doubling the size of the Company through a combination of organic growth initiatives and the strategic add-on acquisitions of ClearPath Connections and Palatine Builders Supply.

Periculum was engaged to run a competitive sell-side process that identified the optimal partner to both maximize value for the existing shareholders and align with the targeted growth plan developed by the Dealers Wholesale leadership team. Despite a dynamic macroeconomic and supply chain environment, Periculum successfully positioned Dealers Wholesale as a leading Midwest platform poised for continued growth via organic initiatives and ongoing buy-and-build M&A, generating strong interest from a deep pool of both strategic and financial buyers.
LDI distinguished itself among a highly competitive field of prospective buyers due to its alignment with the management team’s growth strategy, its shared commitment to a people-first company culture, and a compelling offer structure. Dealers Wholesale’s leadership team, including CEO Jimmy Rayford, will remain in place following the transaction, ensuring continuity for employees, customers, and vendor partners. As part of the transaction, Rayford and other members of the management team have reinvested proceeds alongside LDI, underscoring their confidence in the Company’s future.

“Periculum was an exceptional partner throughout our process,” commented Jimmy Rayford, CEO of Dealers Wholesale. “They took the time to truly understand our business and what mattered most to us in a long-term partner, and they brought discipline, tenacity, and stamina to a complex process. Most importantly, they navigated the dynamics thoughtfully and with genuine care for our people. Their authentic commitment to the right outcome made the difference.” David Mann, Co-Managing Partner of The Firefly Group, added “We couldn’t have asked for a better partner in the sale of Dealers Wholesale - Periculum guided us through a complex process with clear communication, deep market insight, and unwavering commitment to our goals. Their expertise and dedication delivered a strong outcome to our shareholders, and we would gladly work with them again on a future transaction.”

McGuireWoods and Taft served as legal advisors to Dealers Wholesale, and KSM (Katz, Sapper, and Miller) and CBIZ served as the Company’s accounting and tax advisors in connection with the transaction.

Periculum Advises BOC Oil, Inc. in its Sale to Cadence Petroleum Group

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that it served as the exclusive financial adviser to BOC Oil, Inc (“BOC Oil” or the “Company”), a North Charleston, South Carolina based tank wagon distributor of diesel fuel, gasoline, and diesel exhaust fluid (“DEF”) in its sale to Cadence Petroleum Group (“Cadence”), backed by Revelar Capital (formerly known as Wellspring Capital Management, “Revelar”)

Founded in 1977 by Bobby Brunson and his wife Carolyn Brunson, BOC Oil has spent nearly five decades building an unmatched reputation for fast, dependable fuel delivery to construction, commercial, industrial, fleet, and marine customers throughout the Charleston Tri-County area. From its location in North Charleston, BOC specializes in on-site delivery of off-road and on-road diesel as well as gasoline and DEF, helping job sites and local businesses keep equipment and vehicles running on schedule. Ryan Gammons, current owner of BOC Oil, acquired the Company from the Brunsons in 2015 and set about growing BOC Oil through both organic growth initiatives and targeted add-on acquisitions. The Company is now recognized as the leading bulk and wet hosing fuel partner to companies across the Charleston Tri-County area.

Periculum was engaged to run a competitive sell-side process that would maximize the financial outcome for ownership while ensuring the Company and its team members were well-positioned for future growth and continued focus on customer service alongside the right strategic partner. Leveraging its deep relationships with strategic buyers in this market due to past transactions in the space, Periculum positioned the Company as the beachhead of choice for strategic acquirers to penetrate the fast-growing Charleston, SC region due to BOC Oil’s customer relationships, breadth of value-added services, and strong growth momentum. This positioning drove active competition among numerous aggregators in the fuel and lubricant distribution space, culminating in multiple bids that gave ownership a number of options from which to choose in order to best meet its primary objectives. Cadence, a Revelar Capital portfolio company and one of the largest distributors of lubricant, fuel, and other ancillary products in the eastern portion of the United States, was an ideal buyer as it sought to increase the density of its South Carolina lubricant distribution services by adding BOC Oil’s fuel capabilities, assets, and customers. The Company will continue to operate as BOC Oil while leveraging the additional products and services now available as part of Cadence Petroleum Group to best serve its customers moving forward.

“It was a pleasure to work with the team at Periculum Capital,” remarked BOC Oil owner and CEO Ryan Gammons. “They ran a very thorough and robust process that resulted in BOC Oil having several excellent options for potential buyers. This allowed us to find the right fit for our organization moving forward as well as maximized our valuation.”

“BOC Oil is exactly the type of company we look to work with at Periculum in our fast-growing industry practice serving the downstream petroleum market, specializing in distributors and blenders of lubricants, fuel, and propane products,” commented Drew McCuiston, Managing Director at Periculum. “The Company’s leadership team, breadth of services resulting in high gross profit per gallon metrics, and geographic positioning within the broader Sunbelt allowed us to maximize the competitive tension in support of ownership’s desired outcome. We thank Ryan for placing his trust in our team at Periculum.”

Faegre Drinker Biddle & Reath LLP served as BOC Oil’s legal advisor, and KSM (Katz, Sapper & Miller) and BHK (Brown Hiers Kinder) served as the Company’s accounting and tax advisors.

Periculum Advises Cornerstone Autism Center in its Sale to LEARN Behavioral

Periculum Capital Company, LLC (“Periculum”) is pleased to announce it advised Cornerstone Autism Center, LLC (“Cornerstone” or the “Company”), a center-based provider of applied behavior analysis (“ABA”) therapy for children with autism spectrum disorder (“ASD”), in its sale to LEARN Behavioral (“LEARN”).

Periculum ran a customized sell-side process focused on finding the right partner to preserve the unique Cornerstone culture and amplify its mission to serve and impact the autism community throughout the state of Indiana.

Cornerstone was founded by parents Debbie and David Ide who were seeking standardized, comprehensive care in a safe and welcoming setting for their child with autism spectrum disorder. Displeased with the quality of care available at the time, they sought to create the type of environment and treatment that would not only benefit their son, but a wide range of children with ASD. As a result, the Company’s first center in Greenwood was opened in 2010, marking the beginning of a mission-driven company that would grow to serve multiple communities and change the lives of hundreds of children and their families throughout the state of Indiana.

Periculum was engaged to manage a targeted sell-side process that emphasized both fit and value. Amidst a challenging regulatory and labor market, Periculum successfully found a partner in LEARN that aligned with Cornerstone’s people-first culture and commitment to providing the best evidence-based care possible to children with ASD. As a national leader in autism treatment, LEARN’s extensive network and resources will bolster Cornerstone’s existing services and enable the Company to reach and impact more families.

“Selling my company was a difficult decision so it was critical to find the right strategic partner. Periculum took the time to understand my motivations for selling and what was important to me as an outcome. They were partners from start to finish and I would highly recommend their team,” said Debbie Ide, Founder and CEO of Cornerstone. “What we have built at Cornerstone over 15 years is already amazing but LEARN and their incredible team will help take it to the next level. I couldn't be more excited for my staff as they continue in their careers serving our special clients!”

Bose McKinney & Evans LLP served as Cornerstone’s legal advisor and KSM (Katz, Sapper & Miller) served as the Company’s accounting and tax advisor.

Periculum Places 15-Year Term Loan Facility for Berry IT, Inc. and its Sister Company, Berry Communication, LLC

Periculum Capital Company, LLC is pleased to announce the placement of a new 15-year term loan facility for Berry IT , Inc. (“Berry It”) and its sister company, Berry Communication, LLC (“BerryComm”). The loan was processed by iBusiness Funding in conjunction with a USDA loan guarantee issued through the USDA’s Rural Development Program. The funds provide longer-term capital and additional liquidity allowing Berry It to accelerate its growth as they expand their underground services and allowing BerryComm to continue its rollout of its fiber optic broadband internet service network.

Located in Kokomo, Indiana, Berry It was founded in 1999 by James and Jamie Berry. Berry It is a premier utility service company specializing in various underground services such as trenching and directional boring for both residential and commercial needs.

BerryComm was founded in 2015 by James and Jamie and provides broadband service throughout the north-central region of Indiana and beyond. The company has been rapidly expanding their fiber-first networks to homes and businesses throughout the region.

Periculum ran a broad process across various capital providers to obtain the optimal structure. As a company located in a rural area of the State of Indiana, they qualified for the USDA guarantee allowing the underlying lender to offer more favorable terms and a longer tenor. Periculum advised the Company through the entire process starting with obtaining and vetting proposals, as well as assisting in the closing negotiations and documentation. Taft Stettinius & Hollister, LLP was the Company’s legal advisor.

Periculum Announces Two Promotions

Periculum Capital Company, LLC (“Periculum”) is pleased to announce two promotions.

Drew McCuiston is now Managing Director
Drew McCuiston has been promoted to Managing Director. Drew joined Periculum in 2023 after spending the majority of his career in private equity and in executive positions with growth stage companies. Drew quickly established himself as a leader within the firm, serving as a client-facing deal lead and expanding Periculum’s market referral networks. Consequently, he was invited to join the firm’s partnership in 2024. Chris Caniff, Senior Managing Director of Periculum, stated “Drew’s ability to quickly ingrain himself as both a leader and trusted advisor to Periculum’s teammates and clients cannot be overstated. We are excited for his ongoing contributions as we drive the firm into the future and continue to focus relentlessly on delivering superior results for clients.”

Nick Thieme is now Associate
Nick Thieme, formerly serving as an Analyst for the firm, has been promoted to Associate. Since joining Periculum in 2022, Nick has supported client engagements across all service areas. Chris Caniff, Senior Managing Director of Periculum, stated “Nick has been an important part of the firm, assisting senior members in transaction mandates from start to finish. We are excited for his continued growth and contributions to the team.”

Periculum Advises Hope Plumbing in its Sale to Redwood Services

Periculum Capital Company, LLC (“Periculum”) is pleased to announce it advised Hope Plumbing (“Hope” or the “Company”), an Indianapolis-based provider of residential plumbing services, in its recapitalization by Redwood Services (“Redwood”).

Periculum advised the Company on finding the right partner to preserve the Hope legacy and accelerate future growth.

Jack Hope and Brad Persic founded Hope Plumbing in 2007 with one truck and the vision to provide comprehensive, high-quality plumbing services to older Indianapolis homes. Hope’s customer-first mindset and dedication to tackling even the most complex plumbing issues resulted in consistent double-digit annual revenue growth over the last decade. Today, Hope is one of Indiana’s premier residential plumbing services companies, serving countless customers across central Indiana.

Periculum was introduced to the Hope team by a past client that understood the value of an investment bank. The Company had already been contacted by several interested parties and Periculum was engaged to manage a limited process that emphasized finding the right partner to support the Company’s growth in the rapidly consolidating residential services space. As one of the leading HVAC, plumbing, and electrical services platforms in the country, with 17 investments completed over the last five years, Redwood was the perfect partner to complement Hope’s people-first culture and enhance the Company’s service offering beyond its current footprint. Periculum facilitated and led negotiations with Redwood to ensure the Hope team received both upfront value for its best-in-class operations and future upside to capitalize on the Company’s significant growth opportunities.

Faegre Drinker Biddle & Reath LLP served as Hope’s legal advisor.
“We feel extremely fortunate to have had Zainab Bass and Matt Haskell from Periculum and Trevor Belden from Faegre Drinker on our team,” said Jack Hope. “They pushed for and demanded items we didn’t know existed while keeping us organized and on schedule. We absolutely could not have done this without them.”

Periculum Advises Prairie Mills in its Sale to Consolidated Grain and Barge Co

Periculum Capital Company, LLC is pleased to announce it has advised Prairie Mills Products, LLC, an Indiana-based specialty corn milling company, in its sale to Consolidated Grain and Barge Co.

Periculum was engaged to advise on the sale of the business by the owner, John Cory, due to Periculum’s extensive food and ag expertise. Periculum’s customized process included contacting strategic buyers in the niche food ingredient market, and the broader grain and commercial mixes markets. As a result, the Periculum team was able to structure an attractive exit for John while putting the Company’s business in the hands of a diversified agribusiness company with a plan to continue operations in Rochester, Indiana and grow its presence in the specialty food ingredients market. The deal was structured as a sale of the business assets to include the associated retail and commercial brands. This transaction serves as Periculum’s 18th deal in the food and ag space, deepening the firm’s pulse on the market and strengthening its understanding of the key value drivers for buyers and sellers.

John Cory commented on the sale, “Periculum’s dedicated senior leaders were involved in each step of the transaction and identified potential buyers that weren’t necessarily known in the market. We achieved a great outcome that positions the Company for future success”.

Prairie Mills, a leading niche corn miller of non-GMO, gluten free, heirloom, and specialty grain corn meal and flour products providing superior quality to customers around the globe, dated back 100 years, with John’s ownership beginning in 2006. He spent the last 18 years streamlining and upgrading production capabilities and diversifying the product line with non-GMO and organic products. The Company’s location in Rochester, Indiana puts it within 500 miles of 70% of the U.S. population allowing it to market its products to end users in the commercial baking, specialty mixes, retail, and industrial markets. Prairie Mills products can be found in everyday foods like English muffins and breads, various baking mixes, pasta, pizza crust, and breadings. The Company’s E-Z Bake, Prairie Mills, and Southern Plantation brands are marketed through various retailers and online.

In addition to Periculum, John was supported through the transaction by the Krieg Devault LLP mergers & acquisitions legal team, led by Brian Heaton and Sara Jones.

Periculum Advises Micro-Dyn Systems in its Sale to The Brydon Group

Periculum Capital Company, LLC is pleased to announce it has advised Micro-Dyn Medical Systems, Inc., a leading health care software company, in its acquisition by The Brydon Group.

After 34 years of building Micro-Dyn, Bill and Janell Voss worked with Periculum to execute a once-in-a-lifetime transaction by finding a unique buyer for the Company.

Bill and Janell Voss co-founded Micro-Dyn in 1989 and since then health plans, providers, consultants and other customers have relied upon Micro-Dyn for complex data validation, grouping and reimbursement calculations software that incorporates the data and specifications from the Centers for Medicare & Medicaid Services. As a scalable, highly-profitable software company led by the founders who were critical to the ongoing success of the business, Bill and Janell worked with Periculum to find a buyer that could quickly build a team to which all operations seamlessly transitioned shortly after closing. Periculum found, among other potential suitors, The Brydon Group – a Washington, D.C. based private equity investor that specializes in acquiring software businesses in partnership with top mid-career executives.

Considering Bill was the chief software architect and Medicare expert for the Company, completing a successful sale of Micro-Dyn would depend greatly on a buyer’s ability to transition the software products and customer relationships from Bill to a team with experience in both Microsoft software architecture and the intricacies of several Medicare prospective payment systems. Aside from considering the obvious strategic buyers that might have this rare combination of expertise, Bill and Janell knew they would be on the hunt for a uniquely positioned acquirer.

Utilizing its proprietary database of information about potential buyers that has been built over 25 years since its founding in 1998, Periculum designed a customized sell-side process to find that “needle-in-a-haystack” buyer. The result was uncovering The Brydon Group, which having already partnered with two CEOs in residence, were searching for a health care software business to acquire that would leverage their extensive personal backgrounds in Medicare actuarial and strategy consulting. Micro-Dyn found the perfect match with the Brydon team.

“Bill and Janell built an amazing software business with a blue-chip health plan customer base, but with the limited bench strength of the product and technical team our buyer universe would be constrained to players that could effectuate a complicated transition of a niche software platform and operation,” said Sean Frazer, Managing Director at Periculum. “This required our team to leverage our national network to uncover prospects who were not the ‘usual suspects’ of health care software M&A.”

“The Periculum team was absolutely great to work with. They brought their considerable resources to bear with an intelligent, focused approach to find the right buyer for the company that we’d spent a lifetime building,” said Bill Voss. “The team at Periculum was always there to guide us through the many complexities of selling our business, and to make the due diligence process run smoothly. We couldn’t be happier with our choice of an investment banker and the results we achieved.”

In addition to Periculum, Bill and Janell were supported through the transaction by the KSM Transaction Advisory Services team, led by Jennifer Miller, and by the Taft Stettinius & Hollister LLP mergers & acquisitions legal team, led by Elijah Hammans.