Shadowbriar Acquires Benada Aluminum Products
The transaction strongly positions the company for long-term growth
SANFORD, Florida., May 25, 2022 /PRNewswire/ — A subsidiary of Shadowbriar Capital Partners, LLC (“Shadowbriar”) is pleased to announce the acquisition of Benada Aluminum Products, LLC (“Benada” or the “Company”) from Big Shoulders Capital (” Big Shoulders”) and ABGB Capital, LLC (“ABGB”). The buyer buys a majority stake in Benada, with Big Shoulders and ABGB remaining minority investors in the company. With over 60 years of industry experience, Benada is a leading full-service aluminum extrusion company serving a diverse mix of building products, distribution, storm protection and industrial customers in the southeastern United States. Terms of the acquisition were not disclosed.
Benada enjoys an excellent reputation for service, as evidenced by its short delivery times and the exceptional quality of its products. The company operates three aluminum extrusion lines and an industry-leading horizontal paint line capable of painting extrusions up to 40 feet in length, as well as value-added downstream manufacturing capabilities.
“Benada has shown strong growth in recent years thanks to the strength of its management, operational footprint and end markets,” said Matt Man, managing partner of Shadowbriar. “We look forward to partnering with the Benada team to expand the company’s manufacturing capabilities as it continues to provide exceptional service to its diverse customer base in the Southeast.”
“Big Shoulders and ABGB are proud of the progress Benada has made since we purchased it in 2015,” said David Muslin, President of Big Shoulders. “We look forward to the next chapter of Benada as Shadowbriar develops Benada even further, and we’re excited to remain on the team as partners and minority advisors.”
Jim PiperaPresident and CEO of Benada, added, “Our leadership team is thrilled to partner with Shadowbriar given their broad vision of our company and deep experience in the industrial and manufacturing sectors. We would also like to thank Big Shoulders and ABGB for their support while we have grown significantly under their ownership.”
“This agreement demonstrates Livingstone’s continued commitment to the industrial metals and materials industry,” said Mike Jenny, Partner at Livingstone. “It was a pleasure to complete a successful transaction, and we look forward to seeing Benada’s continued success under Shadowbriar ownership.”
Livingstone Partners advised Big Shoulders and ABGB on the transaction. Bryan Cave Leighton Paisner LLP provided legal advice to the sellers and McDonald Hopkins LLC provided legal advice to the buyer. White Oak Global Advisors, LLC and its financing subsidiary, White Oak Commercial Finance, LLC, provided debt financing for the transaction.
About Benada Aluminum Products, LLC
Benada is a full-service, American-owned and operated aluminum extruder located in Sanford, Florida. With over 60 years of industry experience, Benada demonstrates excellent manufacturing capabilities, customer service and a commitment to quality. The company offers precise, tailored solutions through its extensive library of state-of-the-art extrusion standards, tooling capabilities, manufacturing equipment, and powder coating capabilities. For more information about Benada, please visit www.benada.com.
About Shadowbriar Capital Partners, LLC
Shadowbriar is a Los Angeles private equity based firm that seeks to make control investments in leading lower middle market industrial companies that demonstrate strong potential. Shadowbriar seeks to partner with exceptional management teams over the long term to drive significant growth, both organically and through post-closing add-on acquisitions. For more information on Shadowbriarplease visit www.shadowbriar.com.
About Big Shoulders Capital, LLC
Big Shoulders works with financially distressed manufacturing and other equipment-heavy companies in the small and medium-sized business market as a lender and/or equity investor. Big Shoulders invests in manufacturers with $15 million for $150 million in annual revenue, and issues/purchases asset-based loans between $1 million and $15 million. For more information, please visit www.bigshoulderscapital.com.
About ABGB Capital LLC
ABGB is a primary investment firm making opportunistic investments in lower middle market companies. ABGB focuses on special situations with a transition of ownership or management, distressed or turnaround challenges, or growth opportunities requiring a combination of capital and experienced strategic and operational advice. ABGB has specific experience in the specialist finance, manufacturing and commodities sectors.
Media Contact: Sunny Flynn, [email protected]