Situation
Based in Holland, Ohio, Woodsage LLC is one of the country’s leading steel tube fabricators. The Company’s products are used in conveyors, motorcycle and vehicle exhaust systems, fitness equipment, specialty furniture, powersports equipment, and numerous other industrial applications.
In recent years, the Company established itself as a market leader in manufacturing steel conveyor rollers and became the country’s largest producer of tapered and grooved steel rollers. Woodsage’s conveyor rollers are an integral part of the E-commerce infrastructure and used by the industry’s largest and most recognized warehouse integrators.
Woodsage’s shareholders sought a liquidity event to sell up to 100% of their ownership interest in the Company to a well-positioned strategic or financial buyer.
Solution
The Company’s shareholders engaged Amherst Partners to conduct a sale of the business. Amherst’s efforts were focused on finding a well-positioned partner capable of supporting further expansion of the business – both through the growth of the Company’s legacy products and through new market opportunities arising from the continued growth of E-commerce and build-out of distribution and fulfilment centers across the United States.
Amherst prepared comprehensive marketing materials articulating the Company’s unique attributes and growth potential, and successfully marketed Woodsage to a targeted universe of prospective buyers.
Results
Amherst managed a comprehensive search which generated significant interest from both strategic and private equity partners.
After receiving competitive indications of interest, the Company elected to pursue a transaction with Milton Street Capital, a Texas-based firm with deep industrial sector experience and a track record of helping high-growth businesses reach new levels of success.
