FOR IMMEDIATE RELEASE
May 16, 2017
Richmond, VA – Transact Capital Partners is pleased to announce that Summit Filter Corporation and Shaffer Products, Inc., Union, NJ, manufacturers of filter bags, were acquired by Hadley Capital. Transact Capital Partners served as the exclusive financial advisor to Summit Filter and Shaffer Products. Tony Vincent managed the transaction for Transact Capital.
Summit and Shaffer were acquired in 1982 by James Shahidi. Over the past 35 years, Summit Shaffer has manufactured and sold standard and customized filter bags for product recovery and pollution control, as well as the marketing of purchased products to complement their own line of manufactured goods. The Companies enjoy a niche position in the market, offering premium, cost effective solutions to operations ranging from pharmaceutical and food processing to minerals and metals.
According to Jim Shahidi: “I could not have had a more professional and knowledgeable broker than Tony Vincent of Transact Capital. Using his years of experience in the industry and his broad range of contacts, Tony targeted a select group of companies which would be the right fit for Summit and Shaffer. Tony guided the process from start to finish, working with both sides to work out a smooth transaction free of last minute drama. I would recommend Tony wholeheartedly to any business owner on the buy or sell side looking for an accomplished and insightful broker.”
Transact Capital Partners is a full-service mergers and acquisitions advisory, business brokerage, and valuation firm headquartered in Richmond, VA, with offices in Roanoke and Tidewater, VA, Lexington, KY, and Orlando, FL. 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 assist many business owners exit their companies or explore other opportunities. Securities and investment banking transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about this transaction, or Transact Capital Partners, please call Tony Vincent at 804-612-7107 (Tony@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.