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Nolan & Associates Advises Frontline Manufacturing, Inc. and Premier Concepts, Inc. in a combined Sale to Patrick Industries, Inc.

“Nolan has been a trusted advisor over the past eight years as I’ve contemplated the sale of my companies.  Their team did everything possible to ensure that the absolute best outcome would be achieved when I sold and they secured the ideal partner that should allow my companies to reach an even higher level.  I am delighted with the results and I couldn’t have done it without their dedication and determination throughout the entire process.”

– Ray Doss, Founder of Frontline Mfg., Inc. and Premier Concepts, Inc.

Decatur, IL – (Sept. 6, 2013) Nolan & Associates is pleased to announce that it exclusively advised Frontline Manufacturing, Inc. (Frontline) and Premier Concepts, Inc. (Premier) in a combined sale (Frontline/Premier) to Patrick Industries, Inc. (NASDAQ: PATK).

Our Client: Frontline Manufacturing and Premier Concepts

  • Frontline, located in Warsaw, IN, is a major manufacturer of fiberglass bath fixtures including tubs, showers and combination tub/shower units for the recreational vehicle, manufactured housing and residential housing markets with annual revenues of approximately $15 MM.
  • Premier, located in Warsaw, IN, is a custom fabricator of solid surface, granite, and quartz countertops for the RV and residential housing industries with annual revenues of approximately $10 MM.
  • Frontline/Premier have built strong reputations within their industries for exceptional in-house engineering capabilities, innovative designs and high quality products.

Objectives of Frontline Manufacturing and Premier Concepts

  • The founder and sole shareholder of Frontline/Premier sought to transition to retirement and achieve a liquidity event.
  • Frontline/Premier sought a strategic buyer that would recognize the value of Company in the marketplace and have a vision for the asset as an ongoing part of their organization.

Solution: Sale to Patrick Industries

  • Nolan marketed Frontline/Premier’s rich history, strong management team, innovative designs and high quality products to a diverse mix of strategic targets.
  • Included in the list of potential buyers was Patrick Industries, Inc., a manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, kitchen cabinet, household furniture, fixtures and commercial furnishings, marine and other industrial markets.
  • Patrick Industries, Inc. is a public company listed on the NASDAQ Stock Market (NASDAQ: PATK).
  • Patrick believed acquiring Frontline/Premier would allow them to establish a strong presence in the fiberglass bath fixtures market within the industries they serve and would enhance their position as an industry leader in the RV, MH, and residential countertop markets.

Sell Side Process Results

  • Patrick Industries, Inc. presented both a financially attractive offer and perfect strategic fit that matched our client’s expectations.
  • Frontline/Premier are natural fits for Patrick’s existing businesses and will be key assets as they continue to execute their strategic initiatives.
  • The Nolan process created a sense of scarcity, competition and momentum which convinced potential buyers 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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