Denver, CO – CFI USA is pleased to announce that it served as the exclusive financial advisor to Garmat USA (“Garmat”) on an investment by MPE Partners (“MPE”). MPE partnered in the transaction with entrepreneur and CEO, Johan Huwaert.
Headquartered in Englewood, Colorado, Garmat USA is a market leading manufacturer and designer of highly engineered paint booths, finishing solutions and related accessories for the automotive collision repair and industrial coating industries.
Based in Cleveland, Ohio and Boston, Massachusetts, MPE Partners is a private equity firm focused on investments in lower-middle market companies primarily in the high-value manufacturing and commercial & industrial services industries. The firm works closely with their portfolio companies, partnering with industry-leading management teams and providing them with strategic, operational and financial support to create long-term shareholder value through superior operating and financial performance.
Johan Huwaert, CEO of Garmat commented, “It is an exciting time in the collision repair industry, and we thought it was the right time to bring in a partner with the resources and experience to help us enhance our position as the innovation leader in our industry. MPE’s operating executive resources and their long track record of partnering with entrepreneur-led businesses make them a great partner for Garmat USA.”
CFI USA served as exclusive investment banker to Garmat, managing the entire transaction process. Huwaert remarked, “We worked with CFI USA for over a year to prepare for and execute this transaction, and the value they brought by providing a superior preparation process, in depth industry knowledge and management of the entire process exceeded our expectations and was absolutely critical to creating this outcome. We couldn’t have selected a better advisor.”
Adams Price, Managing Director at CFI USA, added, “It was a tremendous opportunity to work with Garmat throughout the transaction process. Johan and his team have created a true leader in innovation and performance in the collision repair equipment industry and they are incredibly well positioned to capitalize on the end market dynamics currently unfolding. This transaction is evidence of that success, and this partnership with MPE will help them solidify their leadership position and create incredible value for their customers, distributors and employees.”
The transaction closed on 19 June 2019.
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to facilitate its domestic expansion strategy roll-out and business optimization
has undergone a refinancing of its working capital debt portfolio