FWD Seagrave

Background

Ballamor Capital Management, Inc. (Ballamor), a Pennsylvania-based registered investment advisor, has made several recent investments in the specialty vehicles and attachments industry, including FWD Seagrave Holdings LP (Seagrave) and Schmidt Engineering and Equipment Inc. (SEE), which was acquired and become a portfolio company of Seagrave. Ballamor builds value in its portfolio companies by providing management resources and the capital necessary to aggressively increase sales and profitability. KPMG's Corporate Finance had developed a strong relationship with representatives of Ballamor while working with them on several transactions.

The Situation

SEE is an industry leader in quality and innovative snow removal technologies. Management was interested in expanding SEE’s geographic footprint and product portfolio through an acquisition program, which had the full support and commitment of Ballamor.

The Solution

KPMG Corporate Finance, with its deep industry knowledge and experience working with the principals at Ballamor and SEE, was selected as the exclusive financial advisor for the acquisition program. KPMG Corporate Finance managed the target identification phase, the valuation process, and advised management on all aspects of the transaction.

The Deal

Everest Equipment Inc. of Ayer’s Cliff, Quebec, was identified as a key acquisition target, fitting many of the objectives set out in SEE’s acquisition strategy, including complementary products and a geographic presence in the Northeastern United States. KPMG Corporate Finance facilitated the introduction of the companies and assisted in the negotiations with the owners of Everest.

Successful Outcome

With the acquisition of Everest, SEE increased its product offering and added significant distribution to its network. The combination of SEE and Everest has created an industry powerhouse in the manufacturing of high quality snow removal equipment.