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CASE STUDY — SELL SIDE

Sector: Manufacturing
Industry: Industrial Refrigeration Manufacturing and Green Energy
Has acquired:

Company

Bitzer US, Inc. a Flowery Branch, GA base subsidiary of Bitzer SE, a leading German independent manufacturer of compressors, condensers and pressure vessels for industrial refrigeration and air conditioning applications.

Situation

Bitzer sought to continue its growth through acquisition and expand into new markets that would diversify its product lines and extend the company’s reach into new sectors while remaining in line with its core principles, including its interest in expanding into sustainable energy products. Desired characteristics included longterm synergies and a strong existing salesforce.

Advisory Role

BCA was engaged by Bitzer US as its exclusive advisor in its acquisition process. BCA provided industry research and screened potential acquisition targets to ensure each candidate closely aligned with Bitzer’s goals and principles. It then initiated conversations with select prospects. Electratherm was a company that developed generators that convert waste heat into power, presenting a product that is not only able to supply power but that is highly beneficial for the environment and offers a strong return on investment for customers. These financial and environmental benefits along with the potential synergies and scalability of its technology made Electratherm an attractive target for Bitzer. In addition, they had highly capable leadership and a strong salesforce in a market that Bitzer did not have a strong presence. BCA completed the analysis and modeled the potential transaction, ultimately helping Bitzer determine that Electratherm was the best choice.

Result

Bravaldo Capital Advisors provided critical, comprehensive advice and led the deal to a smooth and successful closing. The transaction fulfilled Bitzer’s criteria of diversification and gave them access to coveted technology that could be scaled and integrated with current product offerings, accelerating their progress toward providing more energyefficient solutions.
Bravaldo Capital Advisors

Bravaldo Capital Advisors is a boutique Atlanta based mergers & acquisitions and corporate finance advisory firm, providing independent economic and financial advice and execution services for lower middle market companies in a variety of industries with revenues typically between $10 million and $300 million. BCA offers a full range of transaction and advisory services, guiding clients through sell-side transactions and exit strategy planning, growth through acquisition, debt restructuring and corporate recapitalization. The BCA team is a senior deal team with extensive knowledge and insight into the full life cycle of M&A and corporate finance engagements.