Daily News: November 16, 2012

Chestnut Hill Partners Announces Closing of Two Transactions


Chestnut Hill Partners, LLC (CHP), a boutique investment bank specializing in middle-market M&A originations and co-investing with private equity clients, announced the origination and closing of two middle-market M&A transactions.

Chestnut Hill Partners originated the acquisition of certain assets from Maritime Services Corporation (MSC) by affiliates of US Joiner. This acquisition will enable US Joiner to further establish its presence in the Pacific Northwest marine marketplace by establishing a regional office with manufacturing capabilities and demonstrates its strong commitment to this region and its customers. CHP worked closely with US Joiner and MSC to facilitate this successfully closed transaction.

Joe Mullen, president of US Joiner, said, “The purchase of these assets from MSC is an excellent addition to US Joiner and a highly complementary fit. We look forward to expanding our presence and capabilities in the Pacific Northwest to better serve our existing customers as well as the broader marine marketplace in this region. In addition, the cruise market expertise that comes with this acquisition will grow our presence in this large and expanding industry sector.”

US Joiner was acquired in June 2011 by J.F. Lehman & Company, a middle-market private equity firm focused on the maritime, defense and aerospace sectors.

Chestnut Hill Partners also originated the acquisition of UHCsolutions (UHC) by Sentinel Capital Partners (SCP). This acquisition will enable SCP to further its stronghold in the healthcare staffing sector by establishing a presence in the Pacific Northwest. CHP worked closely with UHCsolutions and Sentinel Capital Partners to facilitate this closed transaction.

Paul L. Schaye, managing director of Chestnut Hill Partners, commenting on the two closings, said, “These are additional successful closings for CHP and our private equity partners, continuing what has been a solid year thus far. These closings are another sign of the momentum across the middle-market M&A landscape this year. We expect this momentum to continue through the end of the year and set the stage for a strong 2013.”

David Rowley, managing director of Chestnut Hill Partners, who led both transactions for the firm, added, “The MSC and UHC transactions were a collaborative effort across all parties, leading to two successful outcomes. CHP is pleased to have been able to originate and lead both transactions.