Beacon Completes the Sale of PPMI to Automotive & Industrial Products Supplier
Toronto, Ontario, September 2019 – Beacon Corporation (“Beacon”) is pleased to announce the completion of the sale of PMMI International. (“PMMI”) to a leading automotive and industrial marketplace supplier. (“Buyer”), with the deal closing in August 2019. Beacon was the exclusive sell-side advisor for PMMI, and the complete M&A process.
Beacon was engaged by PMMI in January 2019 and after confidentially marketing the opportunity to a number of buyers and conducting meetings with 5 potentially interested parties, Beacon received a conditional offer that was negotiated and accepted by the Seller in late April 2019.
Alex Shteriev, Co-Founder and Partner at Beacon, noted about the transaction: “Right off the starting block, we had a tremendous amount of interest in the business. After running the process for less than two months we had over 80 inquiries and set up 28 individual companies and business owners with access to the CIM for the business. This led to a handful of meetings between the owners and potential buyers until we were able to identify the best strategic and business fit with a company looking to add PMMI’s product lines to its growing portfolio of electrical tools and accessories line.”
PMMI is a master distributor for several products in Canada and the US, with a primary focus in the electrical and industrial, as well as power and insulated tools markets. Over its 25-year history, the business has built a respectable and strong brand and representation across North America.
Beacon is a full-service business brokerage and M&A advisory firm based in Toronto. Beacon specializes in sell-side and buy-side M&A mandates for privately held middle-market companies in North America. With offices in Washington, D.C. and Toronto, Beacon offers an unparallel level of service and coverage to companies and business owners looking to exit and plan for the next stage of their lives.