22 Sep Amherst Advises on Sale of Stewart-MacDonald
Amherst Partners, LLC (“Amherst”) is pleased to announce the sale of Stewart-MacDonald Manufacturing Company, Inc. (“Stewart-MacDonald” or the “Company”) to Champlain Capital Partners II, L.P. (“Champlain”). Amherst acted as the exclusive financial advisor to Stewart-MacDonald in connection with the transaction.
Stewart-MacDonald, based in Athens, Ohio, is the world’s largest e-tailer of specialty tools and parts for customers active in the repair, modification, and construction of guitars and similar fretted musical instruments. Primarily known as a “one-stop” source for its branded, niche products, the Company has established several in-house brands that have sustained customer loyalty throughout its 50-year history. Key products include specialized luthier tools, tuners (including Waverly, Sloane, and Five-Star brands), pickups and electronics, as well as finishing supplies and educational, “how-to” materials.
About Champlain Capital Partners
Founded in 2002 and based in San Francisco, California, Champlain is a private equity fund with significant experience acquiring and building niche businesses in a variety of industries, including branded consumer products. The fund, which typically invests between $15 million and $100 million in each transaction, is led by professionals who share a commitment to working with owners and management teams of small and middle-market companies.
About The Transaction
Stewart-MacDonald’s sole shareholder engaged Amherst to lead a sale process that would maximize value and, at the same time, identify a new owner with the expertise and resources to continue building upon the Company’s legacy. Amherst identified and approached a select group of strategic and financial investors and received multiple indications of interest at competitive valuations. Champlain eventually emerged as the preferred buyer. Stewart-MacDonald represents a new platform investment for Champlain, which plans to leverage the marketing and operational expertise of its principals to expand Stewart-MacDonald’s iconic brands.
About Amherst Partners
With a track record that spans over 20 years, Amherst Partners is one of the Midwest’s most reputable boutique restructuring advisory and investment banking firms. Among its core services, Amherst provides middlemarket companies with significant financial advisory expertise for corporate restructurings, business divestitures, acquisitions and corporate finance transactions. Our professionals share a commitment to developing a “trusted advisor” relationship with our clients and referral partners, and have amassed an extraordinary track record of success in our restructuring, merger & acquisition advisory and capital raising practices.