Confluence Advises Concast Metal Products and Randall Bearings in their sale to Wieland Group

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Concast Metal Products (“Concast”) and Randall Bearings (“Randall”) with respect to their sale to Wieland Group (“Wieland”), a manufacturer of semi-finished products in copper and copper alloys. Terms of the transaction were not disclosed.

Founded in 1891, Concast is a premier manufacturer of continuous cast copper alloys. The company produces 200+ standard stocked and specialty semifinished alloys in bars, rods, tubes, rectangles and other shapes. Concast serves a diverse set of end markets in heavy equipment, plumbing, fluid power, transportation and aerospace. Concast has locations in Mars, Pennsylvania, and Birmingham, Ohio.

Randall Bearings, with locations in Lima, Ohio, and Coldwater, Ohio, offers high-end machined bronze and brass parts, catering to industries such as agriculture, construction, fluid power, oil and gas, heavy equipment, defense, and transportation.

“With the acquisition of Concast and Randall Bearings, we further expand Wieland’s manufacturing and service capabilities in North America. We are very much looking forward to welcoming an experienced workforce and strong leadership team to the Wieland Group,” said Dr. Erwin Mayr, CEO of the Wieland Group.

Wieland partnered with owner Al Barbour on the investment, who will continue to lead the business.

Al Barbour, President and Chief Executive Officer of Concast shared, “Confluence was terrific to work with. I can’t express enough how integral their team and hard work contributed to the success of this process. Wieland is a terrific strategic and cultural fit for Concast and Randall. I am proud to have worked with Confluence through this transaction.”

Wieland Group is one of the world's leading suppliers of semi-finished copper and copper alloy products. With a global network of production sites, service and trading companies, the company offers a broad product, technology and service portfolio. Wieland develops solutions for automotive, electronics, refrigeration, air conditioning and other industries. Wieland uses high-performance copper materials to drive the success of its B2B customers in future-oriented fields such as electromobility, connectivity and urbanization.

About Confluence Advisors, LLC

Confluence Advisors is a middle market investment banking firm focused on representing families, founders, corporations and private equity firms in business sales and capital raise transactions. Since the inception of the company in 2009, Confluence has completed over $2 billion in transaction volume across a variety of industries including distribution, chemical, testing / measurement, manufacturing, healthcare, industrial services, software and business services.

Confluence Advises Distributor Service, Inc. in its sale to Hood Industries, Inc.

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Distributor Service, Inc. (“DSI”) with respect to its sale to Hood Industries, Inc. (“Hood”). Terms of the transaction were not disclosed.

Founded in 1968, DSI is a one-stop-shop provider of architectural wood and specialized building products for the woodworking industry. The Company supplies cabinet makers, furniture builders, commercial casework shops, architectural millworkers, RV manufacturers, window manufacturers, and other OEMs. DSI is headquartered in Carnegie, Pennsylvania and has eight locations in the midwestern United States.

Bill Delaney, Chief Executive Officer of DSI shared, “Over the years, prospective buyers have contacted me and I considered going through the sale process alone. Not realizing the magnitude of the selling process, I am glad I hired Confluence to help me navigate through the complexities of an acquisition of this size. Due to Confluence's years of experience, they were able to provide their expertise and professional guidance to help create a positive outcome for both DSI and Hood, which, in the end, resulted in a great partnership between the two companies, allowing us to get off on the right foot and hit the ground running after close.”

Hood Industries, Inc. owns and operates lumber and plywood manufacturing mills in Mississippi, and Louisiana, and sixteen distribution operations located in thirteen states serving the northeastern, southeastern and southwestern United States and specializes in hardwood lumber, hardwood plywood, millwork, and other specialty building products including architectural panels, high performances surfaces, polymer sheets, composite decking, hardware and other supplies to the cabinetry industry, millwork shops, industrial users and retail lumber yards.  Hood is a wholly owned subsidiary of Hood Companies, Inc.  Hood Companies is a privately owned, closely held holding company and is the parent to operating subsidiaries involved in the manufacture and distribution of forest and wood products, building and construction materials, and flexible and corrugated packaging products throughout North America.

Jay Galloway, President of Hood Industries, commented: “The DSI transaction offered an excellent opportunity to expand Hood’s geographic footprint with an acquisition of a highly respected, specialty building products distributor having a long history of serving an important geographic area.  Bill Delaney and his team have a well-established reputation for exceptional customer service and strong relationships in the industry.  We quickly discovered that DSI and Hood share similar cultures and values that make the two an excellent fit, and we are excited to have DSI become an integral part of Hood’s long-term success through a continued commitment to our employees, customers, suppliers.”           

About Confluence Advisors, LLC

Confluence Advisors helps business owners maximize the sale of a business, raise optimal funding, or acquire a business. With over 80 years of combined deal experience and more than $2 billion in transactions, the Confluence team works every day to help companies and their stakeholders through critical business transitions.

Confluence Advises Clayton Kendall in its sale to PNC Riverarch

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Clayton Kendall, Inc. (“CK”) with respect to its sale to PNC Riverarch Capital (“Riverarch”), a middle-market private equity firm affiliated with the PNC Financial Services Group, Inc. (NYSE: PNC). Members of the family will continue to lead the business and remain as shareholders. Terms of the transaction were not disclosed.

Clayton Kendall is a program provider of marketing supply chain programs and marketing products to franchised and multi-unit customers across the US and Canada. The Company manages one-stop-shop programs for customers with a product offering that includes apparel, uniforms, marketing materials, promotional products and signage, all provided through custom white label websites. Headquartered in Monroeville, PA, Clayton Kendall sources product from hundreds of vendors globally, and also has value-add capabilities including, warehousing, fulfillment, kitting, embroidery, design, and more.

Riverarch partnered with brothers and Clayton Kendall founders Dan and Mike Broudy on the investment, who will continue to lead the business.

Dan Broudy, Chief Executive Officer of CK shared, “The Confluence team was great to work with. Their process allowed us to have options and ultimately find a great partner in Riverarch.”

Mike Broudy, Chief Operating Officer of CK shared, “We couldn’t be more thankful to have chosen to work with Confluence. The team led us every step of the way. We could not have done this without them.”

Riverarch is a middle-market private equity firm which invests in privately held companies in North America and Europe. The firm seeks well positioned companies where it can invest in support of leveraged and management buyouts, corporate divestitures, and growth financing. The firm is based in Pittsburgh, Pennsylvania.

Confluence Advises VIP Insurance Housing Options, Inc. in its sale to Alacrity Solutions

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to VIP Insurance Housing Options, Inc. (“VIP”) with respect to its sale to Alacrity Solutions (“Alacrity”), a portfolio company of BlackRock (NYS: BLK) through its Long Term Private Capital  strategy. Terms of the transaction were not disclosed.

VIP is a leading provider of temporary furnished housing & relocation for insurance policyholders displaced from their homes into custom-fit, like kind & quality, tastefully furnished and accessorized housing options. The company is headquartered in Murrysville, Pennsylvania.

Alacrity Solutions, based in Fishers, Indiana, is one of the largest independent providers of insurance claims management services in North America. Alacrity provides property, auto, and casualty claims adjustment services, staffing solutions, as well as temporary housing services and a nationwide managed repair network to national and regional insurance companies, MGAs, TPAs, self-insured corporations, and clients in the federal/state government sector.

BlackRock serves investors seeking outperformance in infrastructure, private equity, credit, real estate, hedge funds and multi-alternatives.