Carl Marks Securities, an affiliate of middle market investment bank Carl Marks Advisors, advised Kewaunee Scientific, a global company in the design, manufacturing and installation of laboratory, healthcare and technical furniture products, on its acquisition of Nu Aire, a Minneapolis-based manufacturer of equipment for a range of laboratory and pharmacy environments.
With the acquisition of Nu Aire, Kewaunee hopes to gain a more robust, diversified distribution network to meet global laboratory needs.
“The acquisition marks a transformative moment for both companies,” Chris Parisi, partner at Carl Marks Advisors, said. “The combined organization, which is poised to capitalize on secular tailwinds and ongoing global investments in the life sciences, healthcare and education sectors, will benefit from expanded product offerings and market reach.”
“We have maintained an advisory relationship with Kewaunee for many years and are proud to have played a role in the successful strategic acquisition of Nu Aire by Kewaunee,” Evan Tomaskovic, managing partner at Carl Marks Advisors, said. “It is gratifying to assist a 100-year-old business complete a key acquisition of a more than 50-year-old family-owned business, fortifying the legacies of both world-class organizations.”
“We are extremely appreciative of Carl Marks Securities’ leadership and guidance throughout the transaction process,” Thomas D. Hull III, president and CEO of Kewaunee, said. “Their team played an important role in formalizing our preexisting partnership with Nu Aire, providing us with insights we might not have considered and effective ways to align our businesses to meet the diverse needs of end-users in laboratory furnishings.”
“The acquisition of Nu Aire is a strategic move that will significantly enhance our position in the industry,” Don Gardner, chief financial officer at Kewaunee, said. “This achievement would not have been possible without the technical expertise and analytical rigor provided by Carl Marks Securities. Their dedication and in-depth understanding of the complexities of this deal were instrumental in guiding us through every step of the process.”
