Industrials.
Deal counsel for manufacturers, distributors and industrial services businesses, and the private equity firms and founders that buy and sell them.
Industrials Deal Counsel
Industrial deals turn on contracts, permits, inventory and the people who run the operations. Our attorneys have advised on industrial transactions including DIO Capital Partners’ acquisition of ProWire USA, the sale of a Texas waste services company to a private equity-backed buyer, the Audax-backed ICP Group’s acquisition of Choice Adhesives, and a $384 million continuation fund for AEA Investors’ Singer Industrial. Today the practice advises lower middle market investment firms, independent sponsors and founder-owned industrial businesses on acquisitions and sales. Learn more about our M&A and independent sponsor practices.
Many of the transactions above represent matters handled by our attorneys at prior firms. For illustrative purposes only.
Industrials Practice
Distribution & Specialty Supply
Acquisitions and sales of distribution businesses, where supplier terms, inventory and customer concentration drive value.
Industrial Services
Sales of waste, environmental and field services businesses, including permits, customer contracts and site liabilities.
Manufacturing
Acquisitions of manufacturers, with diligence focused on product liability, quality certifications and supply agreements.
Sponsor Platforms & Add-Ons
Platform and add-on acquisitions for lower middle market investment firms and independent sponsors, including rollover equity and management terms.
Commercial Agreements
Supply, distribution, equipment and services agreements that carry the business between transactions.
We advise investment firms, independent sponsors and founder-owned industrial businesses on acquisitions, sales and the contracts that run their operations.
Represented DIO Capital Partners in its acquisition of ProWire USA, a distributor of high-performance wiring products for motorsport, automotive, aviation and marine markets.
Represented the sellers of a Texas waste services company in its sale to a private equity-backed buyer.
Advised Audax-backed ICP Group in its acquisition of Choice Adhesives.
Advised AEA Investors Small Business Private Equity on a $384 million continuation fund for Singer Industrial.
Many of the transactions above represent matters handled by our attorneys at prior firms. For illustrative purposes only.
Built for the owners and operators of industrial businesses.
Contact UsHow are industrial and distribution businesses usually sold?
Most are sold in a negotiated process to private equity buyers or strategic acquirers, as either an equity sale or an asset sale. Diligence concentrates on customer and supplier contracts, environmental and safety compliance, product liability and working capital.
What environmental issues come up in industrial deals?
Permits that must be transferred or reissued, historical contamination at owned or leased sites, and how waste is handled. Buyers often commission Phase I environmental site assessments and negotiate specific indemnities or insurance for known conditions.
Why does working capital matter more in a distribution business?
Inventory and receivables are a large share of the balance sheet, so the working capital peg, inventory valuation and obsolescence reserves can move the final price meaningfully. Sellers should agree the accounting principles for the true-up before signing.
Do you represent lower middle market private equity firms?
Yes. We represent investment firms and independent sponsors on platform and add-on acquisitions, including DIO Capital Partners’ acquisition of ProWire USA.