Peakstone Advises V&F Transformers on Sale to Spire Power Solutions, a Mill Point Capital Portfolio Company

August, 2021. Spire Power Solutions L.P. an industry leader providing the widest range of transformers and power solutions, announced it has completed the acquisition of the business of V&F Transformer Corporation. Peakstone was V&F Transformer’s exclusive financial advisor on this transaction.

Founded in 1962 and headquartered in Elgin, IL, V&F Transformer is a family owned manufacturer of custom engineered electrical transformers and other components for Critical Power Systems. V&F’s customized transformers and magnetic components for electrical power management and power distribution equipment, are used in mission critical and highly demanding applications, requiring ultra-high reliability often in challenging environments. End markets served include data centers, EV battery charging equipment, industrial automation, and a variety of others requiring V&F’s level of application engineering experience.

“My experience working with the Peakstone team as advisors to our transaction was extraordinary,” said Dean (Dino) Foderaro, Jr., CEO of V&F Transformer Corporation. “Peakstone helped us find the right buyer who is strategically and culturally aligned to take full advantage of the tremendous growth opportunities within the Critical Power Systems market. Peakstone’s insightful positioning of the Company and well-constructed competitive process helped investors fully appreciate the Company’s growth and momentum. Peakstone provided guidance for the family as well as the management team throughout the process. Peakstone was instrumental to achieving a successful outcome.”

Peakstone is a leading M&A advisor to middle-market industrial businesses.

Terms of the transaction were not disclosed

For additional information please contact:

Mark Horita, Managing Director, 312-346-7308, mhorita@peakstone.com

Stephen Sleigh, Managing Partner, 312-346-7318, ssleigh@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com . To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.

About Spire Power Solutions L.P.

Spire is a leading North American manufacturer of transmission and distribution solutions including liquid-filled and dry-type transformers that serve the utility, public power, renewable energy, construction, industrial, and OEM markets known across the industry for safe, high quality, reliable products and exceptional engineering capability. For more information, please visit, www.spirepowersolutions.com. Spire is a portfolio company of Mill Point Capital.

About Mill Point Capital

Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the industrials, business services and IT services sectors. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY.  For more information, please visit www.millpoint.com.


Peakstone Advises Nocturne Villa Rentals on Acquisition of St. Barth Properties with Gladstone Investment Corporation

July 2021. Peakstone served as exclusive financial advisor to Nocturne Villa Rentals (“Nocturne”) on its partnership with Gladstone Investment Corporation and Aureus Capital to acquire St. Barth Properties, Inc., a leading villa rental manager on the island of Saint Barthélemy in the French West Indies, and its sister company, St. Barth Dream Vacations (DBA St. Barth Properties – St. Barth), based in Gustavia, SBH.  Nocturne’s acquisition is the second in as many months following its June acquisition of Exceptional Stays based in Telluride, CO.

Nocturne was founded by CEO Scott Simmons and president Marshall Calder, bringing with them decades of experience in the luxury hospitality industry.

St. Barth Properties was founded in 1989 by Peg Walsh, recognized by Condé Nast Traveler as the definitive expert for St. Barth, and represents more than 250 luxury properties for rent on the iconic, eponymous island known as the French Riviera of the Caribbean.  A pioneer in the vacation rental industry, Ms. Walsh was joined in the business in 1992 by her son, Tom Smyth, who will become President of St. Barth Properties and a senior member of Nocturne’s executive management team.

Scott Simmons, Nocturne Chief Executive Officer, commented: “I have known and admired Peg and Tom for many years. They’ve assembled a dynamic team and built a great business, fueled by a passion for the island they love and a dedication to five-star hospitality, as well as exceeding guest and homeowner expectations.  We’re thrilled to now be working with them.”

“Peakstone formed the deal with two great partners in Gladstone and Aureus. Launching during a pandemic was challenging. Peakstone did a great job persevering and delivered a great outcome, enabling us to execute on our vision of a highly differentiated model in the global travel industry,” said Marshall Calder.

Terms of the transaction were not disclosed.

For additional information please contact:

Eric Zampol, Managing Director, 415-706-1175, ezampol@peakstone.com

Patrick Sandercock, Managing Director, 312-505-6938, psandercock@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Earns #1 Investment Bank Ranking from Axial

July 2021. We are pleased to announce that Axial named Peakstone the #1 lower middle market U.S. investment bank for the second quarter of 2021. Axial’s league tables take into account three main characteristics: client quality, buy-side targeting, and process effectiveness. Thanks to all of our clients and associates that made this possible. For the news release, please visit www.axial.net

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com.To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.


Peakstone Advises Flexo Converters on Completed Sale to Novolex, a Carlyle Group Portfolio Company

July 2021. Novolex®, an industry leader in packaging choice, innovation and sustainability, announced it has completed the acquisition of the business of Flexo Converters USA, Inc. and certain of its affiliates. Peakstone was exclusive financial advisor to Flexo on this transaction.

Flexo, a family-owned business headquartered in Meriden, CT, manufactures and distributes stock, custom and recycled paper bags and sacks. Flexo products will be sold under the Novolex Duro Bag® brand. The addition of Flexo products to the Duro portfolio of bags and sacks will enable Duro to immediately support customer demand through Flexo’s production capacity and proximity to customers.

Peakstone is recognized as an industry leader in representing family owned packaging businesses.  Peakstone has represented Duro Bag in its sale to Novolex, GMSP (Graphic Management Specialty Products) in its sale to Hoffmaster, and FP International in its sale to Pregis, amongst others.

Terms of the transaction were not disclosed.

For additional information please contact:

Eric Dziedzic, Managing Director, 312-346-7314, eric@peakstone.com

Nick Clementi, Managing Director, 763-478-1777, nclementi@peakstone.com

Stephen Sleigh, Managing Partner, 312-771-1471, ssleigh@peakstone.com

About Novolex

Novolex develops and manufactures diverse packaging products for multiple industries in the foodservice, delivery and carryout, food processor and industrial markets that touch nearly every aspect of daily life. The Novolex family of brands provides customers with innovative food and delivery packaging and performance solutions products for their business needs today while investing in research and development to engineer more sustainable choices for the future. With more than 10,000 employee families, Novolex operates 55 manufacturing facilities in North America and Europe, including two world-class plastic film recycling centers. Novolex is a portfolio company of The Carlyle Group, a leading global investment firm which acquired a majority of the company in December 2016. To learn more about Novolex, visit www.Novolex.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Advises on Sale of FoodPharma to New Harbor Capital

June 2021. Peakstone served as exclusive advisor to Food Technology and Design, LLC dba FoodPharma LLC in connection with its sale to New Harbor Capital.

Founded in 2000 and headquartered in Santa Fe Springs, California, FoodPharma is an R&D-focused contract manufacturer of proprietary functional and nutritional foods focused on healthy living end markets. FoodPharma leverages a large portfolio of over 500 proprietary formulas and recipes, as well as in-house research, development, and formulation capabilities, to deliver innovative, functional food products to its customers.

“My experience working with the Peakstone team as advisors to our transaction was extraordinary,” said Glen Marinelli, President of FoodPharma. “Peakstone brought deep M&A experience and domain knowledge in the functional foods space, as well as a consistent focus on the details and challenges that we faced. As expert M&A advisors, Peakstone’s relentless commitment, from the beginning and throughout the process, brought me great comfort. Peakstone was instrumental to achieving our success.”

Terms of the transaction were not disclosed

For additional information please contact:

Eric Dziedzic, Managing Director, 312-346-7314, eric@peakstone.com

Mike Taylor, Managing Director, 312-346-7346, mtaylor@peakstone.com

Alex Fridman, Managing Director, 312-346-7303, alex@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Advises Nocturne Villa Rentals on Sale to Gladstone Investment Corporation and Aureus Capital

June 2021. Peakstone served as exclusive financial advisor to Nocturne Villa Rentals (“Nocturne”) on its partnership with Gladstone Investment Corporation and Aureus Capital to establish Nocturne as a platform for acquiring and integrating luxury villa rental management (“VRM”) companies.

Nocturne was founded by CEO Scott Simmons and president Marshall Calder, bringing with them decades of experience in the luxury hospitality industry.

At closing, Nocturne completed the acquisition of Exceptional Stays, LLC, a leading VRM with approximately 90 luxury properties, primarily in Telluride, Colorado. Exceptional Stays operates exclusively managed properties and provides best-in-class hospitality and property management services to its rental guests and property owners alike.

“We’re very excited to partner with Gladstone and Aureus Capital and the talented team at Exceptional Stays. Exceptional Stays is the ideal first step for us as we seek to create the leading portfolio of luxury villa rental properties under the Nocturne brand” said Scott Simmons.

“Peakstone formed the deal with two great partners in Gladstone and Aureus. Launching during a pandemic was challenging. Peakstone did a great job persevering and delivering a great outcome, enabling us to execute on our vision of a highly differentiated model in the global travel industry,” said Marshall Calder.

Terms of the transaction were not disclosed.

For additional information please contact:

Eric Zampol, Managing Director, 415-706-1175, ezampol@peakstone.com

Patrick Sandercock, Managing Director, 312-505-6938, psandercock@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Advises Cranston Print Works on Sale of Cranston Trucking

June 2021. Peakstone served as exclusive M&A advisor to Cranston Print Works on its sale of Cranston Trucking to a private investor.

Cranston Trucking has provided dedicated and professional transport services since 1975. Cranston provides a broad suite of services, including truckload, LTL, consolidation, warehousing and brokerage. With lanes along the East Coast and from the Carolinas to the West Coast, the company serves numerous industries, including bedding, paint, and textiles.

Fred Rockefeller, chairman of Cranston Print Works, said, “Peakstone was tireless in finding the right buyer for Cranston Trucking and helping negotiate a successful transaction in a challenging market. Their efforts resulted in a great outcome for our company and the employees going forward.”

Terms of the transaction were not disclosed.

For additional information please contact:

Steve Royko, Managing Director, 608-236-4490, sroyko@peakstone.com

Tom Juedes, Managing Director, 847-682-3388, tjuedes@peakstone.com

Jeff Temple, Managing Director, 312-346-7301, jtemple@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Advises on Sale of Precision Machining Business to Incodema Holdings

May 2021. Peakstone served as exclusive advisor to Precision Process Corporation in connection with its sale to Incodema Holdings LLC, a portfolio company of CORE Industrial Partners.

Founded in 1987, Precision Process Corporation is a privately-owned producer of integrated engineering through production services for the medical, semiconductor and packaging end markets.  Headquartered outside Chicago, Illinois, Precision Process Corporation offers machining, grinding, wire cutting and welding, among other capabilities, and holds an ISO 9001 certification.

“This was a very important milestone in my life,” said Mike Lyakhovetskiy, former President of Precision Process Corporation.  “Peakstone was great — they did everything they promised and worked tirelessly and professionally every step of the way.  I found a lot of comfort in the helpful advice and consistent support from the Peakstone team, who always had my and my employees best interests in mind.”

Terms of the transaction were not disclosed.

For additional information please contact:

Eric Dziedzic, Managing Director, 312-346-7314, eric@peakstone.com

Alex Fridman, Managing Partner, 312-346-7303, alex@peakstone.com 

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Advises Flexo Converters on Its Sale to Novolex, a Carlyle Group Portfolio Company

May 2021. Novolex®, an industry leader in packaging choice, innovation and sustainability, announced it has entered into a definitive agreement to acquire the business of Flexo Converters USA, Inc. and certain of its affiliates. The transaction is expected to close in the second quarter of 2021. Peakstone was exclusive financial advisor to Flexo on this transaction.

Flexo, a family-owned business headquartered in Meriden, CT, manufactures and distributes stock, custom and recycled paper bags and sacks. Flexo products will be sold under the Novolex Duro Bag® brand. The addition of Flexo products to the Duro portfolio of bags and sacks will enable Duro to immediately support customer demand through Flexo’s production capacity and proximity to customers.

Peakstone previously advised Duro Bag Company, a family-owned business headquartered in Florence, KY, on its sale to Novolex in 2014. At the time, Duro was the largest paper bag manufacturer in the United States.

“Flexo is an exciting addition to our company and we welcome the skilled and committed team to the Novolex family,” said Stan Bikulege, Chairman and CEO of Novolex. “Flexo’s strong reputation for high quality products, on-time delivery and value-added services will support us in pursuing future growth opportunities for our Duro business.”

“We are excited to join the Novolex family with its reputation of leadership and innovation in our industry, as well as its history of welcoming independent businesses and their employees to the integrated organization,” said Anik Patel, Flexo President & CEO. “Peakstone’s experienced packaging team did an excellent job navigating our family through the sale process. Their deep transaction and industry expertise enabled us to craft an ideal outcome with a world-class partner.”

Terms of the transaction were not disclosed.

For additional information please contact:

Eric Dziedzic, Managing Director, 312-346-7314, eric@peakstone.com

Nick Clementi, Managing Director, 763-478-1777, nclementi@peakstone.com

Stephen Sleigh, Managing Partner, 312-771-1471, ssleigh@peakstone.com

About Novolex

Novolex develops and manufactures diverse packaging products for multiple industries in the foodservice, delivery and carryout, food processor and industrial markets that touch nearly every aspect of daily life. The Novolex family of brands provides customers with innovative food and delivery packaging and performance solutions products for their business needs today while investing in research and development to engineer more sustainable choices for the future. With more than 10,000 employee families, Novolex operates 55 manufacturing facilities in North America and Europe, including two world-class plastic film recycling centers. Novolex is a portfolio company of The Carlyle Group, a leading global investment firm which acquired a majority of the company in December 2016. To learn more about Novolex, visit www.Novolex.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com


Peakstone Advises on Recapitalization of Kirkpatrick Dental Group (Multi-Location DSO Operator)

April 2021. Peakstone served as exclusive financial advisor to Kirkpatrick Dental Group (KDG, or the Company) in connection with Healy Capital Partners’ and Hunter Street Partners’ investment in the Company.

Founded in 2007 by Dr. Jason Kirkpatrick, Kirkpatrick Dental Group is a growing multi-location dental service organization (DSO) located in the Southeast United States.  KDG’s partnership with Healy Capital and Hunter Street allows the Company to further expand its footprint while simultaneously providing practicing dentists with liquidity and the opportunity to join a robust operating platform.

“We are excited by the partnership with Healy Capital and Hunter Street, which will allow KDG to realize its vision of growth in the southeast and beyond. Mike Healy’s track record with physician practices speaks for itself and I look forward to working with him closely,” said Dr. Jason Kirkpatrick.

“Peakstone’s commitment to not only find a partner, but the right partner, and to commit the resources and expertise to do so in a challenging market was critical to completing this transaction,” said Dr. Kirkpatrick.

Terms of the transaction were not disclosed.

For additional information please contact:

Jeff Milkie, Managing Director, 972-653-2944, jmilkie@peakstone.com

Christian Colucci, Managing Director, 312-346-7349, christian@peakstone.com

Alex Fridman, Managing Partner, 312-346-7303, alex@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com