Algood Food Company has been recapitalized by Andros

Algood Food Company has been recapitalized by Andros

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ABOUT THE TRANSACTION:

Allston Advisory Group is pleased to announce the successful recapitalization of Algood Food Company (the “Company”) by Andros.

Founded in 1985 and headquartered in Louisville, Kentucky, Algood Food Company has earned a reputation as a leading producer of private label peanut butter, jellies, and preserves. The Company serves customers throughout the United States with high-quality products, dependable manufacturing, and long-standing customer relationships. Its commitment to quality and operational excellence positioned Algood as an attractive acquisition opportunity.

Andros is a privately held, family-owned company headquartered in southwest France. The company is a global leader in fruit processing, frozen desserts, dairy products, confectionery, and specialty food manufacturing. Andros operates more than 30 manufacturing facilities worldwide, including Bowman Andros Products in Mt. Jackson, VA. That facility produces branded, private label, and co-packed fruit-based food products for domestic and international markets. Its portfolio includes well-known brands such as Bonne Maman®, Old Virginia®, Buddy Fruits®, Andros® Chef, Solo Italia®, and Pierrot Gourmand®.

The transaction strengthens Andros’ presence in the United States while expanding its private label manufacturing capabilities. The combination also creates opportunities to leverage complementary products, manufacturing expertise, and established customer relationships.

Allston Advisory Group served as the exclusive financial advisor to Algood Food Company, and conducted a confidential, competitive sales process on behalf of the Company.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an independent mergers and acquisitions advisory firm serving lower middle market businesses throughout the United States. The firm provides sell-side advisory, business valuations, and exit planning services to privately held companies across diverse industries. Allston combines deep transaction expertise with personalized client service to help business owners achieve successful outcomes and maximize shareholder value.

For additional information on this deal, please contact one of our advisors.

AHA Insurance Network has been acquired by SIAA

AHA Insurance Network has been acquired by Strategic Independent Agency Alliance

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ABOUT THE TRANSACTION:

AHA Insurance Network (the “Company” or “AHA”) has been acquired by Strategic Independent Agency Alliance (“SIAA”).

AHA INSURANCE NETWORK:

Established in 1997 and headquartered in Louisville, Kentucky, AHA Insurance Network is a Master Agency in the SIAA network. AHA has over 150 members across three states (KY, IN, and TN). AHA’s vision is to see every independent agency thrive and reach its highest potential. Collectively, they aim to become the most sought-after partnership of next-generation insurance leaders.

SIAA & ODYSSEY PARTNERS:

Headquartered in Hampton, New Hampshire and founded in 1995, SIAA, a portfolio company of Odyssey Partners, is the largest alliance of independent insurance agencies in the country. The SIAA alliance concept began in 1983 with the creation of the first Master Agency, the Satellite Agency Network Group (SAN Group). Simultaneously, smaller independent agencies faced roadblocks due to their size, including low commissions and limited access to competitive carriers. The solution was to create a Master Agency providing market access and other services to help these agencies grow profitably.

By the mid-90’s, SAN Group had grown in membership and written premiums, enabling smaller member agencies to secure appointments and expand. Consequently, insurance executives and consultants encouraged SAN Group to replicate its success on a national scale. SIAA formed its national alliance in 1995 and replicated SAN’s multi-level partnership model in geographic markets across the country. Today, SIAA includes 48 master agencies covering all 50 states.

In April of 2021, Odyssey Partners, a middle-market private equity firm, acquired SIAA for an undisclosed amount. Since its inception, Odyssey Partners has raised over $8.2 billion in private equity capital. It targets middle-market companies across the nation with annual EBITDA between $20 – $100 million. So far Odyssey has invested in more than 50 platform companies and has completed an additional 200 add-on acquisitions.

Allston Advisory Group served as the exclusive financial advisor to AHA Insurance Network. Allston assisted AHA throughout the transaction process. This included preparing a valuation of the Company and assisting with deal term negotiations.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an experienced mergers and acquisitions advisory firm serving lower middle market businesses throughout the United States. The firm provides sell-side advisory, business valuations, and exit planning services across diverse industries. Allston combines transaction expertise with personalized client service to help business owners maximize value and achieve successful outcomes.

For additional information on this transaction, please contact one of our advisors.

Gatterdam Industrial Services has been acquired by Air Hydro Power, Inc.

Gatterdam Industrial Services has been acquired by Air Hydro Power, Inc.

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ABOUT THE TRANSACTION:

Allston Advisory Group is pleased to announce the successful acquisition of Gatterdam Industrial Services (the “Company” and “GIS”) by Air Hydro Power, Inc. (“AHP” or the “Buyers”).

Founded in 1954 and headquartered in Louisville, Kentucky, Gatterdam Industrial Services is a privately owned electric motor repair company. The Company specializes in electric motor repair, condition monitoring, predictive maintenance, and fluid pump services. For decades, GIS has earned a strong reputation for technical expertise, responsive service, and long-term customer relationships throughout the region.

Founded in 1961 and also headquartered in Louisville, Kentucky, Air Hydro Power, Inc. is a leading industrial distributor serving the Kentucky, southern Indiana, Alabama, Mississippi, West Virginia, and southeastern Ohio. The company specializes in hydraulics, pneumatics, electrical automation, hose and fittings, and engineered industrial solutions. Since 1998, Tom McGuire, Matt Ott, and Dick Beaven have led AHP’s continued growth. Today, AHP operates nineteen locations and employs more than 270 customer service professionals, product specialists and engineers.

The acquisition expands AHP’s industrial service capabilities while strengthening its ability to deliver comprehensive solutions throughout its operating footprint. The combination also enhances GIS’s long-term growth opportunities by providing additional resources, expanded technical expertise, and broader customer access.

“With the business landscape changing rapidly, it was important for me to find a partner like AHP with the resources and expertise to give us every possible competitive advantage,” said Schuyler John, President of Gatterdam Industrial Services. “Combining with AHP positions us for success with both our customers and our loyal employees for many years.”

Matt Ott, Co-Owner of AHP, added, “Gatterdam has earned an outstanding reputation for their technical expertise and customer service. Their capabilities broaden the products and services we provide while strengthening our commitment to customers.”

Allston Advisory Group served as the exclusive financial advisor to Gatterdam Industrial Services throughout the transaction. The firm advised the Company on transaction planning, valuation, buyer negotiations, due diligence, and closing.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an independent mergers and acquisitions advisory firm serving lower middle market businesses throughout the United States. The firm provides sell-side advisory, business valuations, and exit planning services across diverse industries. Allston delivers objective advice, disciplined execution, and personalized service to help business owners maximize value and achieve successful transaction outcomes.

For additional information on this transaction, please contact one of our advisors.

NEWS SOURCES:

https://www.pr.com/press-release/849436

https://industrialsupplymagazine.com/pages/News-112221-Air-Hydro-Power-acquires-Gatterdam-Industrial-Services.php

https://www.bizjournals.com/louisville/news/2021/11/22/louisville-based-air-hydro-power-acquires-local-co.html

KIVA Sports

KIVA Sports has been acquired by 3STEP Sports

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ABOUT THE TRANSACTION:

Allston Advisory Group is pleased to announce the successful acquisition of Ohio Valley Volleyball Center, Inc., doing business as KIVA Sports (the “Company” and “KIVA”) by 3STEP Sports (“3STEP” or the “Buyer”).

Founded in 1993 and headquartered in Louisville, Kentucky, KIVA Sports is one of the nation’s premier youth volleyball organizations. The Company provides elite training, competitive opportunities, and player development for athletes of all skill levels. In addition, KIVA operates first-class volleyball facilities dedicated to growing the sport and developing student-athletes both on and off the court.

Over the past two decades, KIVA has built a nationally recognized volleyball program. During that time, its teams have captured 45 national championships and earned 119 national tournament medal finishes. Moreover, more than 125 KIVA athletes have continued their athletic and academic careers through college volleyball scholarships. As a result, KIVA has established a reputation for excellence, leadership, and long-term player development.

Headquartered in Andover, Massachusetts, 3STEP Sports is the nation’s largest youth sports club and event operator. Today, the organization serves more than 3.2 million athletes across 43 states and nine sports. Through premier club programs, nationally recognized events, and innovative media platforms, 3STEP continues to elevate the youth sports experience nationwide.

The acquisition further strengthens 3STEP’s expanding volleyball platform while preserving KIVA’s tradition of excellence. In addition, the partnership provides greater resources to support future growth, athlete development, and program expansion. Together, the organizations are well positioned to build on KIVA’s longstanding success.

“We are thrilled to join 3STEP Sports,” said legendary volleyball coach, Ron Kordes. “Over the past several years, 3STEP has established itself as a leader in youth sports. We look forward to growing the game together. Most importantly, this partnership creates exciting opportunities for our athletes, families, coaches, and community.”

David Geaslen, Founder and Chief Executive Officer of 3STEP Sports, added, “KIVA has established a standard of excellence that few organizations have achieved. Furthermore, Ron Kordes built an outstanding program that aligns perfectly with our mission. Accordingly, KIVA represents an exceptional addition to our growing volleyball platform.”

Allston Advisory Group served as KIVA Sports’ exclusive financial advisor throughout the transaction. The firm developed and executed a customized sale strategy that achieved the owner’s personal, professional, and financial objectives. Allston also guided the Company through valuation, buyer negotiations, due diligence, and closing.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an independent mergers and acquisitions advisory firm serving lower middle market businesses throughout the United States. The firm provides sell-side advisory, business valuations, and exit planning services across diverse industries. Allston combines transaction expertise with personalized client service to help business owners maximize value and achieve successful outcomes.

For additional information on this deal, please contact one of our advisors.

NEWS SOURCES:

https://threestep.com/3step-sports-adds-kiva/

Hibbs & Associates, PLLC has been acquired by CPA Innovations, LLC

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ABOUT THE TRANSACTION:

Hibbs & Associates, PLLC (also referred to as the “Company” and “Sellers”) has been acquired by CPA Innovations, LLC (the “Buyers”).

Established in 1984 and headquartered in Bardstown, Kentucky, Hibbs & Associates, PLLC operates a full-service accounting firm. The firm provides individual and business tax preparation, estate and trust services, bookkeeping, payroll, and small business consulting. The team also supports retirement planning, estate planning, and non-profit consulting. Additionally, several staff members hold Notary Public certifications for situations that require notarization. The firm delivers accounting services that improve efficiencies, control costs, and maximize profits for their growth-focused clients. The team aims to serve as a long-term strategic partner to its clients.

CPA Innovations, LLC launched in 2019 to help accounting and finance firms compete and expand margins in a challenging market. The firm partners with Indian Chartered Accountants who bring top-tier tax and advisory experience. CPA Innovations delivers customized solutions to accounting firms. These solutions improve margins on finance and accounting services for their clients.

Allston Advisory Group served as the exclusive financial advisors to the Sellers, Hibbs & Associates, PLLC. Allston conducted the Company’s valuation assessment, prepared a detailed confidential memorandum, and managed the sale process for the Sellers. The team supported buyer due diligence and maintained strict confidentiality throughout the transaction. Consequently, the deal delivered liquidity to the Sellers and introduced a forward-looking new owner for employees.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an experienced M&A advisory firm providing mergers & acquisitions, business valuations, and exit strategies, to lower middle market companies. The firm has an established track record of serving corporate clients across a broad spectrum of industries throughout the United States. Allston Advisory Group has the experience, professional fortitude, and quality of work that enable the firm to consistently deliver high-level results to its clients.

For additional information on this deal, please contact one of our advisors.

River City Glass & Mirror, Inc. has been acquired by the Management Team

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ABOUT THE TRANSACTION:

River City Glass & Mirror, Inc. (also referred to as the “Company” and “Sellers”) has been acquired by the Management Team (the “Buyers”).

River City Glass & Mirror, Inc. launched in April 1993 and operates from Louisville, Kentucky. The family owned company specializes in custom glass products and services, including windows, mirrors, and frameless shower doors. Additionally, skilled technicians handle installations for residential and commercial projects. The team delivers precise workmanship and ensures proper installation on every job. The Company built a strong reputation by prioritizing customer service and understanding each client’s needs. The team provides cost-effective solutions and high-quality work that enhance the value of homes and businesses.

Allston Advisory Group served as the exclusive financial advisors to the Sellers, River City Glass & Mirror, Inc. Allston conducted the Company’s valuation, prepared a detailed confidential memorandum, and managed the sale process for the Sellers. The team supported buyer due diligence and maintained strict confidentiality throughout the process. Consequently, the transaction delivered liquidity to the Sellers and created an ownership opportunity for the management team.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an experienced M&A advisory firm providing mergers & acquisitions, business valuations, and exit strategies, to lower middle market companies. The firm has an established track record of serving corporate clients across a broad spectrum of industries throughout the United States. Allston Advisory Group has the experience, professional fortitude, and quality of work that enable the firm to consistently deliver high-level results to its clients.

For additional information on this transaction, please contact one of our advisors.

Louisville Sign Company, Inc. has been acquired by B Sign Group

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ABOUT THE TRANSACTION:

Louisville Sign Company, Inc. (also referred to as the “Company” and “Sellers”) has been acquired by B Sign Group (the “Buyers”).

Louisville Sign Company, Inc. launched in 1996 and operates from Mt. Washington, Kentucky. The family-owned company designs, manufactures, and installs a wide range of signage products. The team produces monument signs, channel letters, sign cabinets, sign faces, neon signs, vinyl signs and custom signage. Additionally, skilled technicians bring over 20 years of industry experience. Each technician also holds a licensed electrician credential.

The Bottom Sign Company began operations in April 1955 in New Albany, Indiana. Brothers Bob and Joe Bottom founded the company and built its early reputation. They emphasized customer service and delivered high-quality signage. In 2005, Joey Bates, a family friend, acquired the company from the second generation. He expanded operations and strengthened the company’s market position. In 2017, he acquired Eagle Sign & Design and formed B Sign Group. Joey Bates and his team developed B Sign Group into a regional leader. The company now specializes in custom signs, vehicle wraps, and comprehensive sign services.

Allston Advisory Group served as the exclusive financial advisors to the Sellers, Louisville Sign Company, Inc. Allston established a valuation assessment of the Company, prepared a thorough confidential information memorandum, assisted with the Buyer’s due diligence, helped the Buyers obtain financing for the transaction, and facilitated the confidential sale process on behalf of the Sellers. Consequently, the transaction satisfied the Seller’s desires for liquidity as well as provide employees with a reputable and customer-focused new owner.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an experienced M&A advisory firm providing mergers & acquisitions, business valuations, and exit strategies, to lower middle market companies. The firm has an established track record of serving corporate clients across a broad spectrum of industries throughout the United States. Allston Advisory Group has the experience, professional fortitude, and quality of work that enable the firm to consistently deliver high-level results to its clients.

For additional information on this transaction, please contact one of our advisors.

Delta Services, LLC has been acquired by The State Group, Inc.

Delta Services, LLC has been acquired by The State Group, Inc.

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ABOUT THE TRANSACTION:

Delta Services, LLC (the “Company” or “Delta”) has been acquired by The State Group Inc.

DELTA SERVICES, LLC:

The Company launched in 2004 and operates from Louisville, Kentucky. Delta Services functions as a privately owned, bonded, and fully insured electrical contractor. The team delivers electrical construction, communication systems, fire and security systems, safety services, utility distribution, and PLC controls. Delta operates across Kentucky, Southern Indiana and surrounding states. The Company employs over 230 union electricians and 35 additional staff members.

THE STATE GROUP, INC.:

The State Group launched in 1961 and operates from Toronto, Canada. The company provides comprehensive electrical and mechanical trade services to Fortune 100 clients. It serves the power generation, automotive, oil and gas, communications, metals and transportation industries. The State Group is backed by New York-based private equity firm, Blue Wolf Capital Partners LLC, and Vancouver-based private equity firm, Yellow Point Equity Partners. The company operates 18 offices throughout the United States and Canada. Additionally, it employs over 800 professionals and skilled trades people across eleven crafts. These teams complete nearly 2,000 projects each year. They repair, maintain and construct critical infrastructure. The team prioritizes safety and delivers consistent, high-quality execution.

“Our successful sale to State Group is a testament to our team’s collective effort to be the best in providing high quality, value added electrical solutions for our customers and to our commitment to the local communities we serve,” said Kevin Waldron, President of Delta Services. “We’re excited to join State Group as we begin the next chapter of Delta Services’ growth and success.”

“The addition of Delta Services provides an exciting opportunity to partner with a company aligned with our own values in prioritizing quality of service, not price,” said Thomas Santoni, President and CEO of The State Group. “Delta Services has a strong brand built on a foundation of nearly 40 years of high quality service. We are proud to welcome Kevin and the entire Delta team into the State Group family as we grow our existing business in Louisville and expand our footprint into greater Kentucky and Southern Indiana.

Allston Advisory Group served as the exclusive financial advisor to Delta Services, LLC, and conducted a confidential, competitive sale process that included both strategic and financial buyers.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an experienced M&A advisory firm providing mergers & acquisitions, business valuations, and exit strategies, to lower middle market companies. The firm has an established track record of serving corporate clients across a broad spectrum of industries throughout the United States. Allston Advisory Group has the experience, professional fortitude, and quality of work that enable the firm to consistently deliver high-level results to its clients.

For additional information on this transaction, please contact one of our advisors.

NEWS SOURCES: 

Business Wire

EC&M

Crunchbase

Bloomberg

Comstock Brothers Electric Company, LLC has been acquired by The State Group, Inc.

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ABOUT THE TRANSACTION:

Comstock Brothers Electric Company, LLC (the “Company” or “Comstock”) has been acquired by The State Group Inc.

COMSTOCK BROTHERS ELECTRIC COMPANY, LLC:

The Company launched in 1999 and operates from Louisville, Kentucky. Comstock functions as a privately owned, bonded, and fully licensed electrical contractor. The team delivers power distribution, electrical construction, process controls, conveyors, and package handling solutions. Additionally, Comstock serves automotive clients and provides design-build and electrical testing services. Comstock Brothers Electric Company creates value through responsive service, strong diagnostic capabilities, and reliable execution. The team meets critical deadlines and consistently “Exceeds Energy Expectations.”

THE STATE GROUP, INC.:

The State Group launched in 1961 and operates from Toronto, Canada. The company provides comprehensive electrical and mechanical trade services to Fortune 100 clients. It serves the power generation, automotive, oil and gas, communications, metals and transportation industries. The State Group is backed by New York-based private equity firm, Blue Wolf Capital Partners LLC, and Vancouver-based private equity firm, Yellow Point Equity Partners. The company operates 18 offices throughout the United States and Canada. Additionally, it employs over 800 professionals and skilled trades people across eleven crafts. These teams complete nearly 2,000 projects each year. They repair, maintain and construct critical infrastructure. The team prioritizes safety and delivers consistent, high-quality execution.

Allston Advisory Group served as the exclusive financial advisor to the Comstock Brothers Electric Company, LLC, and conducted a confidential, competitive sale process that included both strategic and private equity buyers.

ABOUT ALLSTON ADVISORY GROUP:

Allston Advisory Group is an experienced M&A advisory firm providing mergers & acquisitions, business valuations, and exit strategies, to lower middle market companies. The firm has an established track record of serving corporate clients across a broad spectrum of industries throughout the United States. Allston Advisory Group has the experience, professional fortitude, and quality of work that enable the firm to consistently deliver high-level results to its clients.

For additional information on this deal, please contact one of our advisors.

EXPRESS WASTE REMOVAL HAS BEEN ACQUIRED BY A PRIVATE INVESTMENT GROUP

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ABOUT THE DEAL:

Express Waste Removal and Recycling (also referred to as the “Company” and/or “Sellers”) has been acquired by a Private Investment Group (the “Buyers”).

Headquartered in Ellettsville, Indiana, the Company has provided cost-effective, reliable waste collection for over a decade to individuals and businesses throughout Bloomington, Ellettsville, and various other parts of Monroe County. The Company has grown its portfolio of customers through its strategic focus on customer density and superior customer service.

Allston Advisory Group served as the exclusive financial advisor to the Sellers, Express Waste Removal. Allston established a valuation assessment of the Company, assisted with the Buyer’s due diligence, and facilitated the confidential sale process on behalf of the Sellers. Consequently, the transaction satisfied the Seller’s desires for liquidity.

ABOUT ALLSTON ADVISORY GROUP, LLC:

Allston Advisory Group, LLC is an experienced M&A advisory firm providing mergers & acquisitions, business valuations, and exit strategies, to lower middle market companies. The firm has an established track record of serving corporate clients across a broad spectrum of industries throughout the United States. Allston Advisory Group has the experience, professional fortitude, and quality of work that enable the firm to consistently deliver high-level results to its clients.

For additional information on this deal, please contact one of our advisors.

Allston Advisory Group is an experienced boutique M&A advisory firm providing a variety of services to lower middle market companies. See our footer for contact information.

(502) 742-2933
[email protected]
P.O. Box 21266, Louisville, KY 40221

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