CORAL SPRINGS, FL -- 02/03/10 --
The
March Group (TMG), a leading, private mergers and acquisitions advisory
firm specializing in the sale of middle-market businesses, announced today that Mangrove Equity Partners, LLC
acquired a majority stake in a TMG client; a Canadian manufacturer of
branded-consumer leisure goods. The parties finalized the purchase on Dec.
31, 2009.
TMG's client began manufacturing in Ontario, Canada in 1983. Its founders
built the company by creating the world's best products of their kind while
providing extraordinary service. The founders will remain with the company
as minority shareholders, serving in many respects as they have been as
officers and managers of the company. The investment was an opportunity
for the original shareholders to diversify their net worth by substantially
increasing their personal cash. They will also maintain a share in the
company to enjoy its anticipated growth.
Mangrove of Tampa, Florida is a private equity fund that partners with
entrepreneurs to build value in their businesses. The Mangrove team and its
managing partners have helped many of its 123 companies become the dominant
players in the 49 industries they have represented. Mangrove has already
begun building its new acquisition's U.S. sales team while initiating
development of a new product aimed at the product's largest market segment.
It is also assisting with the implementation of a sophisticated information
technology system as well as addressing certain market-specific tax
issues.
"We generated offers from eight great business suitors for our client, but
Mangrove proved to be the best fit for several key reasons," said The March
Group's Senior Managing Director, Robert Scarlata. "It is always very
gratifying when a client says 'Thanks, we couldn't have done it without
you' because we know that their business has been such a big part of their
lives for so many years."
About The March Group
Founded in 1986, The March
Group is headquartered in Coral Springs, Florida, and has offices
throughout the United States and worldwide. The company employs over 200
professionals and has built a dynamic network of business contacts all over
the globe. The March Group specializes in the marketing, negotiation and
sale of privately held middle-market businesses. The March Group has
successfully helped hundreds of business owners sell their companies by
connecting them with buyers.
Media contact:
Kelli Matonak
Corporate Marketing Director
The March Group
954-282-3336
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