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Nolan Advises Mader on Recapitalization with New York-Based Chartwell Investments

“Nolan has been a valuable resource to our family over the past five years as we’ve considered our options regarding a generational ownership transition.  Our top priority was to make sure we had a partner that would aggressively support the growth of the business while maintaining the Mader culture.  Nolan helped us achieve our goals through a process that secured Chartwell as the perfect fit.”

                                                                              – James Zeager, President, Mader Machine Co., Inc.

St. Louis, MO – (June 6, 2013)  Nolan & Associates is pleased to announce that it exclusively advised Mader Machine Co., Inc. (Mader) on its recapitalization with New York-based Chartwell Investments (Chartwell).

Our Client: Mader

  • Mader, based in Greater Cleveland, is a leading engineer, designer and manufacturer of industrial dampers.
  • The Company has a rich cultural history and has been family owned and operated since 1976.
  • Mader has an installed base of 6,600+ projects primarily serving the power generation, oil and gas and industrial markets.

Objectives of Mader

  • The first generation founding shareholders of Mader sought to transition to retirement and achieve a partial liquidity event.
  • The Company’s second generation of leadership had the goal of continuing to operate and grow the business while maintaining an ownership position.
  • Mader sought a partner with similar values that could achieve the goals of all shareholders while strengthening the Company’s competitive position and expanding its reach.

Solution: Recapitalization with Chartwell Investments

  • Nolan marketed Mader’s manufacturing capabilities, strong record and reputation, experienced management team and installed base of 6,600+ projects to a diverse mix of strategic targets and private equity groups.
  • Included in the list of potential partners was Chartwell Investments, a private equity firm headquartered in New York, with portfolio company experience in the energy equipment business.

Sell Side Process Results

  • Chartwell presented both a financially attractive offer and perfect strategic fit that matched the Mader family expectations.
  • The combination of Mader’s experience and values, Chartwell’s strategic resources and synergies through its portfolio company experience, along with their long-term approach have led to the perfect fit for all.
  • The Nolan process created a sense of scarcity, competition and momentum which convinced potential partners to put their best foot forward.

About Nolan & Associates

Nolan & Associates is a boutique investment banking firm providing Mergers & Acquisitions and Capital Raise advisory services to middle market business owners and buyers.  Founded in 1976, Nolan is broadly recognized as a leading investment banking firm with Midwestern roots and global reach.  The Nolan team has completed hundreds of transactions in the middle market while working collaboratively from its offices in St. Louis, MO and Decatur, IL.

Securities offered through Middle Market Transactions, Inc.  Member: FINRA/SIPC.

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