OAKBROOK TERRACE, IL – October 1, 2019 –
Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, is pleased to announce that Omni Cable Corporation (“OmniCable” or the “Company”) has been acquired by Dot Family Holdings (“DFH”). Prairie acted as exclusive financial advisor in this transaction to OmniCable and its shareholders and was led by Timothy Witt and Anthony Dolan of Prairie. Terms of the transaction were not disclosed.
OmniCable (www.omnicable.com), headquartered in West Chester, PA and established in 1977, is one of North America’s largest redistributors of specialty wire, cable and ancillary electrical products selling exclusively to electrical distributors. OmniCable serves as a critical solutions provider in the electrical products supply chain for its manufacturers and electrical distributor customers. Serving a diverse range of end markets, the Company has developed a leading platform with 13 strategically located distribution centers in the United States and Canada. The Company’s Employee Stock Ownership Plan (“ESOP”) owned a minority interest in OmniCable.
DFH (www.dotfamilyholdings.com), is focused exclusively on acquiring leading middle-market distribution companies, with a special interest in master/two-step distribution and national distribution business models. DFH is the family office investment arm of the Tracy Family, the founders and owners of Dot Foods. “After a very thoughtful and diligent process, we are fortunate to partner with DFH. Dot Foods is one of the largest and most trusted names in redistribution,” said Jeff Siegfried, OmniCable Chairman and CEO. “DFH and Dot Foods share our passion for customer service and the respect for the distribution channel that is so important in our business,” he added.
OmniCable recognized Prairie’s extensive knowledge and expertise advising both electrical distribution and ESOP-owned companies. Prairie designed and managed a competitive process with a targeted group of potential acquirers, which attracted significant buyer interest, and resulted in a highly successful outcome for its stakeholders. “The Prairie team did an incredible job helping the board evaluate its strategic options, preparing the management team, identifying prospective partners, and ultimately negotiating and leading a successful transaction,” said OmniCable President, Greg Lampert. “The Prairie team really understood our value proposition and how to effectively communicate the Company’s organic and strategic growth plans,” he added.
“Throughout the entire process, Prairie’s contributions and efforts guided OmniCable to an optimal outcome for the Company and its shareholders,” said Jeff Siegfried, OmniCable CEO and Chairman. He added, “Whenever we encountered an issue or challenges during the sale process, we were able to overcome those hurdles as a result of terrific transaction leadership by the Prairie team working collaboratively with DFH.”
“We believe that the OmniCable-DFH partnership positions the Company extremely well for continue growth,” said Timothy Witt, Managing Director at Prairie. “We continue to see strong interest by the buyer community to acquire and/or invest in market leading ESOP-owned companies. Buyers are becoming more and more comfortable acquiring ESOP companies by surrounding themselves with the right advisors to help ensure a successful outcome,” added Anthony Dolan, Director at Prairie.
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 2019 USA Valuations & Opinions Firm 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 Tue, October 1, 2019
by Wendy Gugora