FOR IMMEDIATE RELEASE
Richmond, VA – (June 10, 2013) Transact Capital is pleased to announce the acquisition of Smithfield Manufacturing, Inc., by Gonzalez Group, LLC. Transact Capital served as the financial advisor to Smithfield Manufacturing, Inc.
Smithfield Manufacturing was founded in 1952 by Basil and Sue Smithfield, and were followed into management by their sons Ron Smithfield and David Smithfield. Ron joined the family business in 1967 and David in 1972. The company provides precision machined metal parts for manufacturers who serve the military, medical, industrial and automotive industries. In addition to a base of customers in Tennessee the company serves customers in North Carolina, Ohio, Wisconsin, Georgia, Vermont and Mexico.
Gonzalez Group founder, Felix Gonzalez, commented, “This acquisition of Smithfield Manufacturing provides an opportunity to add additional products to the existing customers, plus grow the customer base. This will help enhance Smithfield Manufacturing’s excellent reputation for their quality. With the purchase of a family business with family values, we won’t have to change that part of the business although we do plan to enhance the capability and capacity of the business in order to achieve our goals. We see the future of the company being an extension of the vision that the Smithfield’s had set, to provide high quality products and superior customer support. We are confident that we can add and build upon this business model.”
Fred Doster, who heads up the Lexington, KY office added, “When I found the Gonzalez Group website I could see that Smithfield Manufacturing would be a complement to Mr. Gonzalez’s company. Plus the Smithfield’s Tennessee location could be a benefit to the Michigan based Gonzalez Group in serving their customers.”
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.