OAKBROOK TERRACE, IL – January 24, 2018 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to JBK Manufacturing & Development Co. in the sale of the company to an employee stock ownership plan.
Founded in 1981, JBK Manufacturing & Development Co. is a supplier of precision tubular assemblies, machined parts and fabrications for aerospace, military, and other commercial applications. JBK’s headquarters are in Dayton, OH where it operates out of a 42,000 square foot facility. JBK has extensive in-house machine capabilities which allows the company to perform machining, tube bending, testing, and various other services, thereby providing a one-stop shop experience to its customers.
Prairie worked closely with the management team and sellers, providing advisory expertise and managing the preparatory, due diligence, and negotiation phases of the transaction as well as structuring the financing for the transaction. Terms of the transaction were not disclosed. “We are pleased to have completed a transaction that will allow our team to benefit from the future growth of the company”, says Mike Gearhardt, president of JBK Manufacturing. “While other options were presented, we felt an ESOP was the best option for the future of JBK and its employees. One of our best decisions was to retain Prairie Capital Advisors as our advisor. Their expertise and guidance was essential in getting the transaction closed timely and efficiently. The Prairie team was there to support us every step of the way.”
Rocky Fiore, chief operating officer and managing director at Prairie says, “It was a pleasure working with the JBK Manufacturing team throughout the entire transaction process. The company has all of the essential characteristics to be a very successful ESOP company in the future.”
About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory and valuation services to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. Prairie was named the 2017 U.S.A. Fairness Opinion Advisor of the Year by M&A Atlas. For more information visit www.prairiecap.com.
Wendy Gugora, Director of Marketing
Prairie Capital Advisors, Inc.
Posted on Wed, January 24, 2018
by Wendy Gugora