September 4th, 2015 – Bravaldo Capital Advisors (“BCA”) is pleased to announce the successful sale of its clients Premium Spray Products, Inc., a Marietta, Georgia based manufacturer of spray foams for insulation and roofing and specialized polyurethane systems for niche applications, and Premium Spray Products Canada, LP its Canadian spray foam and related products distributor, collectively Premium Spray Products, to Accella Performance Materials, a manufacturer of custom formulated polyurethanes and recycled rubber products and a portfolio company of Arsenal Capital Partners.
Mac Hess, President and shareholder, who will stay on post transaction and lead Premium Spray Products, noted that “as any business founder knows, selling can and is an emotional roller coaster. I appreciated having an advisor I could truly rely on throughout the process to provide sound counsel and who delivered on their promises.”
“This deal is a rare win-win-win. BCA helped manage a challenging process as the companies were from different countries. It took a great team effort from everyone involved, and BCA helped bring it together,” remarked Darren Watson, CEO of Premium Spray Products Canada.
Johanna Salloum, Senior Investment Manager at PFM Capital and a major stockholder of Premium Spray Products added “Bravaldo Capital Advisors served as advisors to the sellers and provided critical advice and leverage in negotiations which led to a smooth transaction and optimal outcome for shareholders and invested parties.” Johanna further commented, “I respect the professionalism and appreciated the optimism of the firm, and am grateful for the devotion of BCA’s resources so fully and completely.”
Financial details of the transaction were not disclosed.
Premium Spray Products, Inc. (www.premiumspray.com) and Premium Spray Products Canada LP (www.premiumspraycanada.ca), collectively Premium Spray Products, are based in Marietta, Georgia and Regina, Saskatchewan respectively. Premium Spray Products is a leading manufacturer of spray foams used for insulation and roofing, as well as specialized polyurethane systems aimed at niche applications. Premium Spray Products is a recognized industry technical leader in innovation and has enjoyed some of the highest growth rates in the industry since its inception.
PFM Capital, Inc. (PFM) (www.pfm.ca) is an employee-owned investment management firm, focused on private equity investment in Western Canada and Saskatchewan in particular. Founded in 1989 as a corporate finance company, PFM has been managing private equity and venture capital funds since 1993. PFM currently manages seven private equity funds – SaskWorks Venture Fund, SaskWorks Resources Fund, Apex Investment Fund, Apex II Investment Fund, Saskatchewan Entrepreneurial Fund, Prairie Ventures Fund, and TopSoil Farm Land Management Fund. With over $550 million in assets under management, PFM has earned a strong track record of steady high- quality deal flow and investment management, providing superior returns to the firm’s investors.
Accella Performance Materials (www.accellacorp.com), Rebranded from Dash Multi-Corp which was founded in 1973 in St. Louis, MO, Accella is a leading manufacturer of custom formulated polyurethane systems and recycled rubber products. The polyurethane business is focused on custom formulations for spray, pour and cast applications involving foams, coatings, adhesives, sealants, and elastomers. The recycled rubber products business manufactures recycled tire crumb, custom colored EPDM granules, equine matting, athletic flooring, playground surfacing, and custom molded products. With the acquisition of Premium Spray Products, the company manufactures in eight production facilities across the United States, one in Europe and one in China.
Arsenal Capital Advisors (www.arsenalcapital.com) Formed in 2000, Arsenal Capital Partners is a leading New York-headquartered private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. The firm targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Arsenal currently has $1.7 billion of committed equity capital.