The M&A Advisor reported that the special situations team at SC&H Capital, an investment bank specializing in M&A advisory, has been honored with the M&A Deal of the Year Between $10MM- $25MM award for the sale of Marine Technologies to Ballard Marine Construction. SC&H was also named a finalist in the Professional Services Deal of the Year category for the same transaction. The firm was recognized in a Gala Ceremony in New York City on Nov. 15, 2022.
Marine Technologies (MTI), a 30-year-old Maryland-based marine services company provides heavy, marine and underwater construction services to government agencies, municipalities and a host of other private and industrial clients in the Baltimore/Washington area. In January 2022, MTI engaged SC&H Capital to find a buyer that would continue the company’s legacy and operations and maintain the majority of its employees. During the sale process, SC&H Capital generated letters of intent (LOIs) from several potential buyers and MTI ultimately chose to sell to Ballard Marine Construction, a Washougal, Washington-based specialty marine and underwater contractor.
“It is an honor to receive this award from The M&A Advisor and to be recognized for the hard work put forth by Hank Waida and others on the team to secure a buyer in Ballard for MTI,” Ken Mann, managing director of SC&H Capital, said. “We continue to demonstrate our commitment to finding the best possible outcome for our clients and preserving a family’s legacy when it matters most.”
Other professionals who worked on the transaction include:
- Edward Lee and Jordan M. Halle of Whiteford, Taylor & Preston, counsel for Marine Technologies
- Tim Cummins and Barry Rieger of Aronson, accountants/advisors for Marine Technologies