DMCA Assists Hayes Industries in Selling
HOUSTON – June 19, 2014 – Doeren Mayhew Capital Advisors, a full range investment banking firm, successfully facilitated the sale of its longstanding client Hayes Industries, Ltd. to Actuant Corporation (NYSE:ATU).
The licensed investment bankers and M&A advisors at Doeren Mayhew Capital Advisors helped guide Hayes through the M&A process and filtered strategic buyers to bring together the two companies, in a cash transaction finalized at $31 million, plus future performance payments. Post-closing, Hayes’ owners will remain closely involved as a part of Actuant’s Industrial segment to further drive business.
“Adding Hayes Industries and Hayes Specialty Machining to Actuant Corporation’s industrials segment should enable the combined companies to propel into the leading position within the pre-stressed and post-tensioned concrete market,” said Steven Silverman, Houston managing director for Doeren Mayhew Capital Advisors. “At the same time, escorting one of Doeren Mayhew’s longstanding clients through the acquisition proved extremely rewarding personally, while also allowing our clients to effectively plan for their estate’s future.”
A Doeren Mayhew client for nearly 20 years, Hayes is a custom and high-volume commodity manufacturer that will continue to operate under the Actuant name. Actuant Corporation specializes in designing, manufacturing and distributing various industrial products and systems for clients in more than 30 countries.