FOR IMMEDIATE RELEASE
October 12, 2015
Orlando, FL – Transact Capital Partners is pleased to announce that Potomac Steel & Supply, Inc., a Springfield, Virginia full-service supplier of durable steel products and construction materials, has been acquired by Springfield Marble & Granite. Transact Capital Partners served as the exclusive financial advisor to Potomac Steel & Supply in the transaction. Terms of the transaction were not disclosed.
Potomac Steel & Supply, founded in 1946, is a family owned company serving commercial and industrial clients. The company specializes in steel, aluminum, heavy hardware, and industrial and commercial supplies. The company also offers machine shop services.
Springfield Marble & Granite, also headquartered in Springfield, Virginia, is one of the largest importers, fabricators, and installers of premium and exotic granite, marble, DuPont Zodiaq, Caesar Stone and Silestone on the East Coast. Family owned and operated since 2001, the company provides products for both commercial and residential projects ranging from countertops and fireplace surrounds to full wall and floor paneling.
Jon Molayem, Vice President at Transact Capital Partners, managed the transaction for Potomac Steel & Supply.
John Pohlmann, owner of Potomac Steel & Supply, stated, “Having never sold a company before, Jonathan was an invaluable resource. He guided us through the whole sale process all the while looking after our best interests. Jonathan and Transact Capital helped us successfully get the transaction closed.”
Transact Capital Partners is a full-service business mergers and acquisitions advisory, brokerage, and valuation firm headquartered in Richmond, VA, with offices in Orlando, FL, Roanoke and Tidewater, VA, Lexington, KY, and Central Pennsylvania. Transact focuses on the needs of privately held companies in the lower middle market with enterprise values under $100 million. With extensive experience in owning, running, and 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 this transaction, or Transact Capital Partners, please call Jon Molayem at 407-350-8000 (Jon@TransactCapital.com), or contact Steve Zacharias at 804-612-7102 (Steve@TransactCapital.com). Additional information about Transact Capital Partners can be found at www.TransactCapital.com.