FOR IMMEDIATE RELEASE
Richmond, VA – (June 16, 2006) Walter A. Harrell President had this to say about his experience, “Developing and growing a company like ours has been a great and rewarding experience. We worked with many companies in many different industries and feel we made a Positive impact on their success and the lives of their employees. However, nearly 50 years is a long time and we were ready to make a change and retire. With the help of Transact Capital, we were able to find a partner who can take it to the next level. It will be good for our employees, customers, & suppliers.
This was an ideal transaction and a great fit. Although both companies were located close to each other and initially appeared to offer competing products and services, they actually had product lines, customers, industries served, and employees which complemented each other well. This should be a near perfect marriage for both companies.
Transact Capital served as the exclusive financial advisor to the owners of C. Arthur Weaver Company, Inc. The sale enabled the majority owners to retire. Started in 1950, C. Arthur Weaver is a well established distributor of mechanical power transmission equipment, fluid power equipment, lubrication systems, and miscellaneous industrial products. With offices in Richmond, Roanoke, and Chesapeake, the company served over 1,100 manufacturing, packaging, and engineering services companies located throughout Virginia.
Industrial Supply Corporation was founded in 1933 and is a major distributor of MROP (maintenance, repair, operating & production supplies) that focuses in power transmission and mechanical equipment. The company maintains seven offices in Virginia and North Carolina and is a major player in the industrial distribution industry in the two states. ISC is expanding rapidly through internal growth and acquisitions.
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.