FOR IMMEDIATE RELEASE
January 9, 2015
Richmond, VA – Transact Capital Partners is pleased to announce that Industrial Machine Manufacturing Inc. (IMM), located in North Chesterfield, VA has been acquired by Russell Martin, a private investor. Transact Capital served as the exclusive financial advisor to IMM in closing the transaction.
Industrial Machine Manufacturing was founded in 1956 and manufactures a premium line of custom barrel, drum, and pail unloading products under the patented Uniflow brand. These are used for customer functions including pumping and/or melting highly viscous fluids such as hot melt glues, generic adhesives, wax based inks, food-grade resins, or nearly any other high viscosity material. They will continue to serve their customers while maintaining their reputation for quality work and with extremely knowledgeable experienced team.
Mike Rhea, Vice President at Transact Capital Partners, helped facilitate the sale and assisted the owner in finding a buyer who could continue to operate the business, and maintaining the valuable customer relationships as well as grow it to higher level of activity. Rhea remarked: “IMM has a strong reputation in their industry and needed an owner who could guide them to another 50 years of success. I believe that Russell is a great fit for the company, staff, and clients.”
Mike has a background in business and real estate brokerage, valuations, and small business lending, with extensive experience as a financial analyst. He understands the needs, challenges, and concerns of business ownership from the perspective of a buyer, a seller, and a financier.
Transact Capital Partners is a full-service business brokerage, mergers and acquisitions advisory firm headquartered in Richmond, VA, with offices in Roanoke and Tidewater, VA, Lexington, KY, Orlando, FL, and Central Pennsylvania. Transact focuses on the needs of small privately held companies in the lower middle market with enterprise values under $50 million. 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. Security transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about Transact Capital, please call Steve Zacharias at 804-612-7102 or e-mail at Steve@TransactCapital.com.
Transact Capital Partners
7400 Beaufont Springs Dr.
Richmond, VA 23225