Shadowbriar Capital Partners acquired Benada Aluminum Products from Big Shoulders Capital and ABGB Capital. The buyer is purchasing a controlling ownership stake in Benada, with Big Shoulders and ABGB remaining minority investors in the company. With more than 60 years of industry experience, Benada is a full-service aluminum extrusion operation servicing a diverse mix of building products, distribution, storm protection and industrial customers across the Southeastern United States. Terms of the acquisition were not disclosed.
White Oak Global Advisors and its financing affiliate, White Oak Commercial Finance, provided the debt financing for the transaction. Livingstone Partners advised Big Shoulders and ABGB on the transaction. Bryan Cave Leighton Paisner provided legal counsel to the sellers and McDonald Hopkins provided legal counsel to the buyer.
Benada has a reputation for service as evidenced by its short customer lead times and product quality. The company operates three aluminum extrusion lines and horizontal paint line capable of painting extrusions up to 40 feet in length, as well as having value-added downstream fabrication capabilities.
“Benada has demonstrated strong growth in recent years based on the strength of its management, operational footprint and end-markets”, Matt Homme, managing partner of Shadowbriar, said. “We look forward to partnering with the Benada team to expand the company’s manufacturing capabilities as it continues to provide outstanding service to its diverse customer base in the Southeast.”
“Big Shoulders and ABGB are proud of the progress Benada has made since we bought it in 2015,” David Muslin, chairman of Big Shoulders, said. “We are looking forward to Benada’s next chapter as Shadowbriar grows Benada even further, and we are excited to remain on the team as minority partners and advisors.”
“Our management team is delighted to partner with Shadowbriar given its expansive vision for our company and deep experience in both industrials and manufacturing,” Jim Piperato, CEO of Benada, said. “We would also like to thank Big Shoulders and ABGB for their support while we grew significantly under their ownership.”
“This deal demonstrates Livingstone’s continued commitment to the metals and industrial materials industry,” Mike Jenny, partner at Livingstone, said. “It was a pleasure to pull together a successful transaction outcome, and we look forward to watching Benada’s continued success under Shadowbriar’s ownership.”