North American Industries, a provider of overhead cranes, has sold to Boulder Brook Partners LLC and Tonka Bay Equity Partners LLC for an undisclosed amount. Cobblestone Advisors, a specialty group of Harris Williams & Co., advised on the deal.
Cobblestone Advisors is pleased to announce the sale of North American Industries, Inc. to Boulder Brook Partners LLC and Tonka Bay Equity Partners LLC. The transaction closed on December 17, 2008, and Cobblestone acted as the exclusive advisor to North American Industries. The transaction was led by John Dickinson and Sterling Adlakha from the firm’s Richmond office.
North American Industries, Inc. (www.naicranes.com) is a leading provider of custom overhead cranes and related services suited to a variety of different applications and industries. A true turnkey supplier, NAI provides cranes and components, runways, and installation and repair services, with a strong commitment to customer service.
Boulder Brook Partners LLC (www.boulder-brook.com) is a private investment firm that acquires lower-middle market companies. The firm typically invests in manufacturing, distribution and service businesses with revenue between $5 – $100 million.
Tonka Bay Equity Partners LLC (www.tonkabayequity.com), located in Minnetonka, Minnesota, acquires and invests in small to medium sized companies in the manufacturing, distribution and business services sectors. Tonka Bay manages two private equity funds with combined capital of $200 million. Its limited partners include major financial institutions and high net worth individuals.
Cobblestone Advisors (www.cstoneadvisors.com) is a specialty group of Harris Williams & Co. that provides premium quality merger and acquisition advice to family and closely-held businesses and lower-middle market private equity groups. Transaction services include private company sales, corporate divestitures and leveraged recapitalizations for companies.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE: PNC), is one of the largest mergers and acquisitions advisory firms in the country focused exclusively on the middle market. Harris Williams & Co. represents private equity groups as well as publicly and privately held companies worldwide.
Harris Williams & Co. and Cobblestone Advisors are trade names under which Harris Williams LLC conducts its business. Harris Williams LLC is a registered broker-dealer and member FINRA/SIPC.
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