Nolan Advised PCI, Inc. on its Sale to Lewis & Clark Capital

DATE: October 13, 2023

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Who is Our Client?

  • PCI, Inc., founded in 1997, is a turnkey contract formulating, blending, and packaging service for liquid products including EPA registered disinfectants, household, industrial, institutional cleaning, home and garden and specialty pet products.
  • PCI operates a 42,000-square-foot facility in St. Louis, Missouri and has extensive expertise in contract manufacturing and custom formulation.
  • With nearly 30 years of experience, PCI has grown to accommodate both large and small customers throughout the United States.

Why Did PCI, Inc. Hire Nolan?

  • Will Davis, owner of PCI, engaged with Nolan to help find an acquirer or partner with similar values and vision that would allow him to take some chips off the table and support the continued growth of PCI.
  • Will was focused on finding a partner who would not only continue to positively build upon PCI’s reputation and legacy but also would prioritize continuity and advancement for the employees.
  • PCI selected Nolan based on their successful record of industry M&A experience in the manufacturing and industrial space.

What Value Did Nolan Deliver?

  • Nolan’s sale process delivered Lewis & Clark Capital, a St. Louis-based private equity firm founded in 2001 that invests the capital of its team members, including founder Tom Hillman.
  • Lewis & Clark backs firms in a wide range of industries including industrial products and services, business and financial services, food and beverage, technology, health and wellness and niche manufacturing.
  • “We were particularly impressed by Will and his management team’s ability to deliver significant growth while maintaining high service levels. Therefore, we are delighted to partner with the PCI team and invest in a company that is instrumental in supporting key brands of its world-class customers,” said Tim Spihlman, Managing Director at Lewis & Clark.
  • Will Davis has retained a minority share and will serve as CEO of PCI moving forward.

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