B. Riley FBR initiated, structured and negotiated the transaction on behalf of E.V. Roberts.
The transaction positions the consolidated company as the largest aerospace-focused specialty chemicals distribution platform in North America. The combination of two leading industry participants creates a full-service, solutions-oriented distributor that is better positioned to support the evolving needs of its customer and supplier partners by providing access to a larger portfolio of products and services across an expanded geographic footprint.
As part of the transaction, E.V. Roberts’ senior management team, comprised of CEO Ron Cloud, EVP and VP of Sales John Vogt, and COO Allison Lombardo, retained its leadership positions in the business and reinvested to become shareholders in the consolidated company.
“The transaction is a great result for E.V. Roberts as it provides meaningful liquidity, an attractive equity position in the combined company and an opportunity to partner with a leader in the specialty chemical distribution sector,” said Chris Ankley, director, B. Riley FBR.
E.V. Roberts is an authorized distributor for 3M, Henkel, Momentive, Resin Formulators, and Scott Bader. E.V. Roberts was founded by Ernie Roberts in 1938 and acquired by Cloud in 1997. The company will continue to operate out of its Carson, CA facility and its leadership team will report to Jason Caldwell, president and CEO of Graco.
Morgan, Lewis & Bockius served as legal counsel for E.V. Roberts, and Squire Patton Boggs served as legal counsel for Graco.