Periculum Capital Company, LLC is pleased to announce that the 2018 sale of Pretzels, Inc. to Peak Rock Capital was recognized as Deal of the Year by the Association for Corporate Growth (“ACG”) at its 2019 Indiana Annual Awards Dinner. The transaction was recognized for successfully transitioning the Indiana-based, multi-generational family business to the institutional finance markets while maintaining the company’s significant Indiana footprint and expanding its potential economic impact. Periculum served as the exclusive financial advisor to Pretzels, marking the third consecutive year that Periculum has advised companies recognized by ACG Indiana at its Annual Awards Dinner.

In 2018, Periculum’s financial advisory client, Dickinson Fleet Services, won the Corporate Value award, driven by its 2017 acquisition by Ridgemont Equity Partners. Periculum also served as the exclusive financial advisor to Kinetrex Energy on their 2016 sale to Parallel49 Equity, which was recognized in 2017 as Deal of the Year.

Periculum has built a reputation over multiple decades for providing Indiana’s leading middle market and emerging growth companies highly-customized financial advisory solutions. The firm’s principal approach accounts for the complexities of ownership perspective, economic condition, and management expectations to deliver solutions optimized to each clients’ specific needs and desires. Periculum was first recognized by ACG Indiana in its inaugural Deal of the Year, the 2004 acquisition of Maxon Corporation by Hammond, Kennedy, Whitney & Company, Inc.

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that Paradise 4 Paws, LLC (“P4P” or the “Company”) has received an investment from National Veterinary Associates, Inc. (“NVA”). Periculum acted as the exclusive financial advisor to P4P, leveraging its extensive experience in the pet industry to execute a successful transaction in the rapidly evolving pet care services segment.

Headquartered in Chicago, Illinois, P4P is a leading pet care services provider, offering boarding, daycare, grooming, and training across 13 nationwide locations. The Company operates a unique “hub-and-spoke” business model, with anchor Paradise 4 Paws “resort” locations at major U.S. airports complemented by urban Pooch “hotel” and “club” locations serving the surrounding metropolitan area. As a result, the Company effectively maximizes market penetration by capturing both the traveling-related overnight boarding and daily daycare demand of discerning pet parents. With its significant brand recognition and extensive experience opening new airport locations, P4P is well-positioned to establish itself as the leading comprehensive pet care services provider in a highly fragmented industry.

Founded in 2008, P4P had historically relied primarily on family and friends of the management team to fund its growth. Following its recent acquisition of the Pooch Hotel platform from Petco, the Company was seeking growth capital to solidify its position and continue to expand its footprint. Given Periculum’s prior success executing deals in the pet space, P4P engaged Periculum to explore various strategic alternatives available to the Company. After running a customized process targeting select strategic companies and private equity firms with industry expertise, management determined that NVA was the ideal partner to support the growth of the existing platform and accelerate P4P’s future development.

P4P’s founder and CEO Saq Nadeem reflected on the positive outcome stating, “Periculum was instrumental in crafting a unique transaction structure that not only met our capital needs but also aligned P4P and NVA for a successful long-term relationship.”

Periculum Capital Company, LLC (“Periculum”) is pleased to announce the sale of Pretzels, Inc. (“Pretzels” or the “Company”) to Peak Rock Capital (“Peak Rock”). Periculum acted as the exclusive financial advisor to Pretzels. The transaction further expands Periculum’s established resume of completed transactions in its growing food vertical.

Headquartered in Bluffton, Indiana, Pretzels manufactures an extensive array of salty-snack products, including traditional, peanut-butter-filled, flavored, seasonal, and gluten-free pretzels, as well as extruded products. Serving a diverse, blue-chip customer base comprised of leading grocers and national brands, Pretzels has maintained an outstanding reputation for excellent customer service and exceptional product quality since its founding in 1978 by Bill Mann and Bill Huggins.

A number of factors have driven significant changes in the salty-snack space over the last several years, including the continued growth of private label versus branded products and an increased focus on healthy and “better-for-you” products. In order to capitalize on these changing industry dynamics, the Company built a state-of-the-art facility in Plymouth, Indiana in 2017 to complement its existing operations in Bluffton, while simultaneously making the decision to seek an outside investment partner.

Pretzels selected Periculum to execute a customized process to find a partner that would meet the objectives of both the Huggins and Mann families as well as the current management team. The objectives included getting an attractive valuation for the business and finding a partner that would fit the Company’s culture while providing the expertise and capital to help facilitate growth. After running a targeted process that resulted in significant buyer interest, the Company’s shareholders determined that Peak Rock was the best partner to help transition company leadership while supporting the remaining owners and management team as they continue to expand the business.

Co-CEO and EVP of Sales, Chip Mann, remarked, “Our experience working with Periculum was very rewarding and they truly understood our needs. They helped us achieve an exceptional outcome and found a partner in Peak Rock that should allow us to capitalize on a variety of exciting opportunities ahead.”

“We had a positive experience working with the Periculum team throughout the Pretzels transaction process,” added Robert Strauss, Managing Director of Peak Rock. “We are excited to partner with the Company’s talented management team and the Huggins and Mann families to grow this snack platform through product innovation, investments in the Company’s capabilities, and add-on acquisitions.”

Periculum Capital Company, LLC (“Periculum”) is pleased to announce the acquisition of American Soy Products, Inc. (“ASP”) by Morgan Foods, Inc. (“Morgan” or the “Company”). Periculum acted as the exclusive advisor to Morgan, assisting with both the sourcing and negotiation of the transaction and with the structuring and placement of the financing.

Founded in 1899 and based in Austin, Indiana, Morgan is the leading private label canned soup and bean manufacturer in the U.S. Today, the Company produces over 400 different formulations across almost 2,000 SKUs.

As Morgan continues to diversify and grow its business, the Company made the strategic decision to expand its product selection by offering aseptic packaged products. Aseptic processing is the highly specialized process of packaging sterile food products in a sterile container, preventing microorganisms and bacteria from entering the package. This process keeps the sealed products safe and shelf stable for up to 18 months without the need for refrigeration. Aseptic is one of the fastest growing segments in the consumer packaged food industry.

Morgan engaged Periculum after evaluating a build-versus-buy strategy and deciding that the most effective way to enter this rapidly growing segment was to acquire a company that had existing aseptic packaging capabilities. Periculum ran a focused search for aseptic packaging companies in North America. During the process, Periculum identified and contacted over 30 potential targets. After conversations with several targets, ASP was identified as the best fit and was open to pursuing a transaction with Morgan. Periculum prepared the valuation, gathered the necessary information for Morgan to make the operational decision, and assisted in the preparation of the IOI and LOI. During the closing process, Periculum helped with problem solving and simultaneously ran a financing process to fund the acquisition and working capital needs for Morgan. The successful outcome allows Morgan to not only offer new packaging options, but also offer new products to its existing customer base.

Louis Gottsponer, President of Morgan, reflected on the positive outcome saying, “The Periculum team did an excellent job of identifying potential targets and managing both the acquisition and financing process. This outcome would have been much more difficult without their expertise and experience.”

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.”

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.

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.

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.

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.”

Periculum Capital Company, LLC (“Periculum”) is pleased to announce the sale of Dickinson Fleet Services, LLC (“Dickinson” or the “Company”), to Ridgemont Equity Partners (“Ridgemont”). Periculum served as the exclusive financial advisor to Dickinson regarding the sale of the Company.

Based in Indianapolis, Indiana, Dickinson is the industry-leader in the provision of preventative maintenance and repair services for vehicle fleet owners and operators throughout the United States. As the largest independent fleet maintenance company in the country, Dickinson provides mobile maintenance and repairs leveraging both its network of mobile technicians and in-shop maintenance at its 15 branch facilities.

The Company’s ownership situation was unique, as two members of the ownership team sought to retire subsequent to the sale of the Company, while two others desired to remain and continue to build upon the family business. Dickinson exclusively engaged Periculum to structure a customized solution to meet the goals of all Company shareholders. Periculum executed a broad search of potential buyers including large strategic companies in the fleet management and maintenance industry, companies owning large fleets that were currently performing maintenance work in-house, and private equity firms with industry expertise. Following management meetings with several potential buyers, the Company’s shareholders determined that Ridgemont was the ideal financial partner to transition the leadership of the company, supporting the remaining owners and management team as they continue to grow the business.

The founder of the Company, Bob Dickinson, said, “Our experience with Periculum was very rewarding. They helped us to exceed our valuation expectations, and identified potential buyers we couldn’t have found on our own. The Periculum team was always available for advice and guidance throughout the entire process.”

“We had a very positive experience working with the Periculum team throughout the Dickinson transaction process,” said Jack Purcell, Partner at Ridgemont. “Dickinson and the entire vehicle repair and maintenance industry are at an inflection point with respect to the use of technology, leveraging a mobile work force and pursuing M&A opportunities. Periculum positioned their client to be successful during a critical time in the Company’s history. We look forward to expanding the geographic footprint and service offering alongside the management team at Dickinson.