DATE: June 06, 2013
Who is Our Client?
- Mader Machine, based in Greater Cleveland, is a leading engineer, designer and manufacturer of industrial dampers.
- Mader 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.
Why Did Mader Machine Hire Nolan?
- The first generation founding shareholders of Mader sought to transition to retirement and achieve a partial liquidity event.
- Mader’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 Mader’s competitive position and expanding its reach.
What Value Did Nolan Deliver?
- 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.
- 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.