Northern Edge Wins M&A Deal of the Year Award

We are delighted to announce that the Northern Edge-advised acquisition of Garvin Industries, Inc. by Southwire Company, LLC has won M&A Deal of the Year ($25 –50 million) at the 18th Annual M&A Advisor Awards. This is the fifth time in the past four years that industry peers have recognized Northern Edge’s excellence in complex sell-side transactions across a range of sectors and deal sizes.

Led by a senior Northern Edge deal team, this complex transaction featured exhaustive research of potential buyers and a well-managed transaction process, which generated robust competition between strategic and financial players, and ultimately delivered the optimal outcome for our client.

Garvin Industries, Inc. (“Garvin” or the “Company”), a 120-year-old leading manufacturer of electrical, lighting and low voltage products, had a non-traditional go-to-market strategy for electrical and lighting products, which was driving significant growth for the Company. This growth was the primary reason for the sale process as the owner, Bart Garvin, was all consumed in running the business and was looking for a better work-life balance. The Company had developed an online “Amazon-like” experience for their customers where they bypassed the traditional distributor channels which created interest from strategic buyers who were looking to expand their sales channels and from financial buyers who were attracted to the high profit margins.

The partnership with Southwire, LLC (“Southwire”), one of North America’s largest wire and cable producers and an emerging influence in the industrial electrical space, has expanded distribution channels and cross-selling opportunities for both buyer and seller. It has also fulfilled Bart Garvin’s personal goals: Garvin’s employees will have a good future with a company willing to invest in its continued growth and Bart Garvin can now focus on areas he truly enjoys –product development and sales –while leaving the management of daily operations to Southwire.

The transaction was also a finalist in two categories:

• Corporate/Strategic Dealof the Year($25 – $50 million)
• Industrials Deal of the Year ($10 – 50 million)