ShoreView Announces Sale of TMI International, Inc.
ShoreView is pleased to announce the successful sale of TMI International, LLC (“TMI”) to River Associates Investments. ShoreView partnered with TMI through a leveraged recapitalization in September 2006.
Prior to ShoreView’s investment, the owner of TMI was seeking diversification of his net worth and a strong financial partner to pursue significant growth opportunities. ShoreView structured a transaction that:
- Provided liquidity to the owner and worked with him over time on leadership succession planning
- Allowed management to retain day-to-day operating control of the business
- Created an ownership incentive plan for key managers
- Structured a meaningful retained ownership position to the owner to provide for a second liquidity event
The results of this partnership were exceptional as ShoreView and TMI completed four complimentary add-on acquisitions, expanded TMI’s product lines and geographic reach, and added key managers to the team. As a result, the business more than doubled in revenue and EBITDA during ShoreView’s ownership period.
About TMI International, LLC
TMI International, LLC is a leading manufacturer and value-added distributor of strip doors, air doors, industrial curtains and separators, modular cleanroom walls, loading dock accessories, and flexible PVC products. The Company sells its products through distributors, catalog houses, and purchasing groups to a diverse range of customer segments. Its end users include warehouses, manufacturing facilities, distribution centers, retail non-food facilities, restaurants, and food processing facilities. TMI is based in Pittsburgh, Pennsylvania
About ShoreView Industries
ShoreView Industries, based in Minneapolis, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.
October 2014Back to News