June 26, 2019
Baird Business Owner Solutions (“BOS”) and the Hassan Oldham Wealth Advisors Group recently partnered to assist prominent local businessman, Mr. Mark Pirtle, on the sale of his privately-held manufacturing company, Alpha Integration, Inc.
About the Deal:
Tooling Tech Group (“Tooling Tech”), a portfolio company of GenNx360 Capital Partners, has completed the acquisition of 100% of the stock of Alpha Integration, Inc. (“Alpha”). Headquartered in Murfreesboro, TN, Alpha is a specialty manufacturer of custom, automated assembly, and inspection systems to the automotive, medical, energy, and consumer product markets.
Founded in 1982, Tooling Tech Group has grown both organically and through acquisitions to become one of the largest tooling providers in the United States—with more than 650 employees, 12 facilities, and over 1 million square feet of manufacturing space across four states. Based in New York, NY, GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies.
The Baird Business Owner Solutions Approach:
Wealth Advisor Mr. Yaz Hassan (SVP of the Hassan Oldham Group) initially introduced BOS to Mr. Pirtle to discuss strategic opportunities with his community banks. Mr. Pirtle is a recognized entrepreneur and business leader in Central Tennessee with a successful career across numerous industries including automotive dealerships, real estate development, banking, and manufacturing. While discussing his banking assets, Mr. Pirtle mentioned his investment in Alpha.
Given the company’s strong performance and substantial backlog, Mr. Pirtle and BOS consequently decided to pursue a marketing process. Further, because numerous large strategic and private equity-backed companies were continuing to consolidate smaller operators, BOS created a highly-targeted marketing plan to select a group of potential partners. Through the competitive auction process, Tooling Tech was ultimately selected as the best partner given its existing capabilities and desire to retain Alpha’s key management and employees.
As the process unfolded, BOS and Mr. Hassan worked to ensure a seamless transition for not only Mr. Pirtle but also Alpha’s key management team. The Alpha transaction is a quintessential example of how the breadth of BOS’ advisory services can be leveraged to achieve a smooth transition for a retiring business owner client. The Hassan Oldham Group earned a referral fee and the opportunity to reinvest the cash proceeds.