Chartwell is pleased to announce its acquisition of Atlantic Management Company, a nationally recognized provider of valuation and transaction advisory services. Atlantic has specialized expertise in ESOPs, M&A, and business succession planning.
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News Category: Recent Transactions

Chartwell is pleased to announce that Paper Machinery Corporation has successfully completed a debt recapitalization. The transaction included a new senior credit facility provided by PNC, refinancing Paper Machinery Corporation’s (“PMC” or the “Company”) preexisting facility and delivering significant operating flexibility, enhanced cash flow management, and balance sheet agility to support the Company’s ongoing growth initiatives.

As a part of the debt recapitalization, the Company closed a sale leaseback transaction with Fundamental Income Partners, further optimizing its capital structure. JP Real Estate Partners provided additional real estate advisory services to PMC in connection with the transaction.

Chartwell acted as financial advisor to PMC, providing counsel to the board of directors and senior management throughout the process. Chartwell conducted a comprehensive review of financing alternatives, delivered in-depth analyses to ensure an optimal capital structure for the Company’s future, and negotiated favorable financing terms.

“We are very pleased with the outcome of this process and truly appreciate Chartwell’s partnership. Their team provided comprehensive analysis and thoughtful negotiation, helping the board carefully evaluate various financing alternatives and secure a flexible solution that aligns with PMC’s long-term goals. Chartwell’s expertise added real value at every stage, positioning PMC to continue investing in our growth, our people, and our future as an employee-owned company.”

– Scott Koehler, Board Member, Paper Machinery Corporation

About Paper Machinery Corporation

Founded in 1951 and headquartered in Milwaukee, Wisconsin, Paper Machinery Corporation is the global market leader in the design and manufacture of advanced forming machines for paperboard cups, containers, and custom packages. PMC serves a diverse range of end markets and is recognized for its engineering excellence, innovation, and customer service. The Company is 100% employee-owned through an Employee Stock Ownership Plan (ESOP).

Chartwell Contact

For additional information on this transaction, please contact Ryan Rassin or Matt Ewing.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce the sale of Sports Attack, a founder-owned leader in the design, engineering, and manufacturing of premium sports training equipment across baseball, softball, volleyball, football, soccer, cricket, and rugby.

Founded in 1995 by entrepreneurs Doug Boehner, Amanda Pratt, and Kurt Brenner, Sports Attack (the “Company”) initially focused on volleyball training machines before expanding into other sports equipment, notably entering baseball with the launch of the innovative Hack Attack pitching machine in 2000. Thereafter, Sports Attack continued to strategically expand into new markets, becoming the training machine manufacturer of choice for many professional leagues, championship NCAA teams, and elite youth leagues.

Chartwell served as exclusive financial advisor to Sports Attack, providing strategic guidance to the Company and its founder-owners through all phases of the transaction. With the backing of Sound Growth Partners, Sports Attack plans to accelerate investment in new product launches, further expand into international markets, improve operational efficiencies, and grow across sales channels. Sound Growth Partners’ long-term perspective and commitment to preserving Sports Attack’s culture, attention to product quality and safety, and entrepreneurial spirit make it an ideal partner for the Company’s next pivotal stage of growth.

“Chartwell’s advice was instrumental in achieving a transaction that honors our history while positioning us for future growth. They understood the importance of finding the right cultural fit—someone as enthusiastic about our products as they are committed to the highest level of customer service. Chartwell’s tailored, hands-on approach to the process gave us the confidence in securing the right partner who will help lead Sports Attack into its next chapter of innovation and market expansion.”

– Amanda Pratt, President, Sports Attack

About Sports Attack

From its roots in a small, 1,000 square-foot warehouse three decades ago, Nevada-based Sports Attack has grown into a global leader in sports training innovation. Sports Attack products are engineered and crafted with precision and purpose. Its proprietary pitching and training machines have redefined what’s possible in baseball, softball, football, soccer, volleyball, rugby, and cricket.

Today, Sports Attack’s equipment is trusted by every Major League Baseball and National Football League team, along with thousands of universities, high schools, clubs, coaches, athletes, and parents who are united by their love of sport and their desire to perform at the highest levels.

About Sound Growth Partners

Sound Growth Partners (“SGP”) is a Seattle-based private equity firm investing in clear market leaders within the lower middle market using its unique One-Stop Buyout® approach (i.e., both the debt and equity). The SGP team has worked together extensively for many years, successfully investing in, supporting, and growing lower middle market companies. SGP only invests in what they know – small and medium sized businesses with compelling market share in protected niches within the business services, consumer products, distribution, and light manufacturing sectors.

Chartwell Contact

For additional information on this transaction, please contact Wil Becker or Austin Piech.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

“Chartwell is proud to have advised Sports Attack on this milestone transaction. It was a pleasure to work alongside a passionate leadership team committed to product excellence and long-term growth. We are honored to have played a role in securing a partner that aligns with Sports Attack’s values and vision for the future while thriving together.”

– Greg Fresh, Managing Director, Chartwell

Chartwell is pleased to announce Mehl Electric Company, a full-service electrical contractor, has transitioned ownership to a minority Employee Stock Ownership Plan (“ESOP”). In its second generation of Bocchino family ownership, Mehl’s shareholders sought a transition strategy that would provide partial liquidity, while preserving the Company’s independence and legacy, reward and empower its dedicated employees, and ensure operational continuity under its existing leadership. The Bocchino family was committed to finding a solution that aligned the interests of all stakeholders and supported Mehl’s long-term strategic vision.

Following a comprehensive review of transition alternatives, Mehl engaged Chartwell as its exclusive financial advisor to structure and execute an ESOP transaction, as well as to arrange transaction financing with a commercial bank. Chartwell worked closely with Mehl’s leadership to evaluate multiple ESOP structures and financing alternatives, ultimately designing a minority ESOP transaction that met the Company’s objectives. The transaction resulted in the sale of a minority ownership interest to a newly established ESOP, providing meaningful liquidity to the Bocchino family while allowing them to retain significant equity and leadership roles. Chartwell also led a competitive process to secure favorable financing terms that balanced shareholder liquidity with Mehl’s ongoing capital needs.

The establishment of the minority ESOP marks a significant milestone for Mehl Electric, reinforcing its commitment to employee empowerment and shared success. By expanding ownership to its workforce, Mehl is investing in the people who have driven its growth and reputation, while positioning the Company for continued independence and long-term prosperity.

About Mehl Electric Company

Mehl Electric Company is a leading full-service electrical contractor serving the New York and New Jersey metropolitan area. For nearly 80 years, developers, general contractors, building owners, and tenants have relied on Mehl to provide reliable, cost-effective electrical installations. The Company is recognized as one of the industry’s premier electrical contractors, delivering first-rate service for many of the region’s foremost development projects, including a growing portfolio of large-scale, complex assignments across commercial, healthcare, data center, and mission-critical sectors.

Chartwell Contact

For additional information on this transaction, please contact Matt Dennison. To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce The Printer, Inc., a leading direct mail marketing firm serving casino clients, has transitioned ownership to an Employee Stock Ownership Plan (“ESOP”). In its second generation of ownership, the shareholders of The Printer, Inc. (“TPI”) explored ownership transition alternatives that would preserve its legacy and elected to sell to an ESOP to reward its employees for their past, current, and future service.

Chartwell was engaged by TPI to act as exclusive financial advisor for the 100% ESOP sale transaction and placement of transaction financing with a commercial bank. Chartwell presented multiple transaction scenarios to determine the optimal ESOP ownership transition structure, allowing the shareholders to elect IRC Section 1042 and defer capital gains taxes, while enabling the business to maintain its culture, governance, and identity post-closing. Chartwell also worked with TPI to better align its executive compensation plan with the success of the business, implementing a long-term incentive plan, providing a retention mechanism and additional incentive to select management members.

“Working with Chartwell was an exceptional experience from start to finish. Their professionalism, depth of expertise, and genuine commitment to our goals gave me complete confidence throughout the ESOP sale process. Chartwell not only delivered outstanding results, they did so with integrity and care every step of the way.”

– Bill Benskin, President, TPI

About The Printer, Inc.

Based in Des Moines, Iowa, TPI serves hundreds of prominent casino clients across the U.S. from four facilities strategically located across the country to reduce mailing times. Founded in 1973, TPI employs approximately 300 employees and provides variable data printing and direct mail marketing, coupled with proprietary mobile application development expertise and technology-driven email marketing services, connecting casinos to over 35 million players each month.

Chartwell Contact

For additional information on this transaction, please contact Wil Becker or Will Rehnberg.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce Preferred Beef Group, a leading processor of beef products, has transitioned ownership to an Employee Stock Ownership Plan (“ESOP”). Following decades of independent ownership with a focus on the long-term success of Preferred Beef Group (“PBG”), the shareholders began to explore ownership transition alternatives. After thorough consideration, the shareholders chose an ESOP to benefit PBG’s 300+ employees and preserve the company ’s culture and values.

Chartwell was engaged by PBG to act as exclusive financial advisor for the 100% ESOP sale transaction. Prior to the ESOP transaction, Chartwell performed annual corporate planning valuations for PBG regarding the fair market value of its partnership interests.

About Preferred Beef Group

Headquartered in Booker, Texas, Preferred Beef Group supplies quality beef cuts and complimentary products to downstream processors serving retail and foodservice customers nationwide. PBG specializes in cattle processing at its USDA-certified facility, sourcing cattle through auctions and direct rancher partnerships. PBG has processed over 200,000 head per year over the past decade and continues to see a stable demand for its beef products.

Chartwell Contact

For additional information on this transaction, please contact Wil Becker or Matt Dennison.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce the sale of CP Group (“CPG”), a California-based family-owned leader in the design, manufacturing, and integration of advanced material recovery facilities (MRFs) and sorting technologies, to Declaration Partners, a private investment firm with approximately $2.2 billion in assets under management.

Founded in 1977 by Charles Davis, CPG has evolved from inventing the world’s first aluminum can flattener to becoming the industry’s leading provider of large-scale sorting systems and automation solutions. Over its nearly 50-year history, CPG has engineered, manufactured, and installed more than 450 MRFs worldwide and holds dozens of patents, each designed to enhance operational efficiency, recovery rates, and customer profitability.

Chartwell served as exclusive financial advisor to CPG, providing strategic guidance to the Company and its shareholders through all phases of the transaction. With the backing of Declaration Partners, CPG plans to accelerate investment in advanced automation technologies, artificial intelligence integration, and next-generation sorting systems, while maintaining its U.S.-based manufacturing and strong team culture. Declaration Partners’ long-term perspective and commitment to preserving CPG’s entrepreneurial spirit make it an ideal partner for the company’s next stage of growth.

About CP Group

CP Group is a leading designer and manufacturer of material sortation and recovery equipment in the waste and recycling industry. CP Group provides a variety of sorting solutions worldwide, including Material Recovery Facility (MRF) engineering design, manufacturing, installation and customer services. Custom turn-key systems by CP Group include residential recycling, commercial and industrial, municipal solid waste, engineered fuel, construction and demolition, fiber sorting, plastic sorting, and electronic waste processing.

About Declaration Partners

With approximately $2.2 billion in assets under management, Declaration Partners is an investment firm specializing in private investments (including platform companies), real estate, and GP solutions. With headquarters in New York and an office in the Washington, DC area, Declaration launched to invest on behalf of its anchor investor, David Rubenstein, and now also partners with family offices and like-minded institutions.

Chartwell Contact

For additional information on this transaction, please contact Matt Dennison.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce that IEWC Holdings Corp., a leading distributor of wire, cable, and wire management products, has acquired Bevco Engineering Company, Inc., a designer and manufacturer of custom electrical control systems. The acquisition marks a pivotal step forward in IEWC’s strategic growth plan, including enhanced value-add capabilities, new product offerings, and expanded end market reach in high-growth sectors.

Chartwell was engaged to provide financial advisory services to IEWC, its management team, and board of directors for the acquisition. Chartwell delivered diligence, valuation, and transaction structure insights, as well as strategic guidance, as IEWC evaluated multiple facets of the opportunity.

About IEWC

IEWC is a global distributor of wire and cable products, manufacturer of custom fiber assemblies, and provider of value-add solutions that advance a connected world. As an entrusted partner to thousands of companies in various manufacturing and infrastructure industries, IEWC has supported customer supply chain, logistics, and product quality initiatives for over 60 years. IEWC is an employee-owned company with 22 locations in 11 countries across North America, Asia, and Europe.

About Bevco

Bevco is a Wisconsin-based electrical control systems designer and manufacturer, equipped with capabilities to design, engineer, configure, and manufacture high-quality control panels for customers across a diverse range of end markets.

Chartwell Contact

For additional information on this transaction, please contact Dan Kaczmarek.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce Oxygen Service Company, a leading independent distributor of packaged gases and welding supplies, has been acquired by Meritus Gas Partners, a portfolio company of AEA Investors.

Oxygen Service Company (“OSC” or the “Company”) received an unsolicited offer from a market participant, compelling the board to evaluate strategic alternatives and ultimately pursue a potential sale of the Company. Chartwell was engaged to provide advisory services for the potential transaction, including execution of a market clearing process. Meritus emerged from a competitive market as the winning bidder, presenting an offer with a premium valuation and an attractive avenue for OSC to continue its growth and maintain its independence.

Throughout the transaction, Chartwell prioritized several strategic goals on behalf of the board, including:

  • Achieving a premium valuation that rewarded the employee owners with a significant monetization event
  • Maintaining the Company’s independence and core values by vetting all potential buyers to ensure that the chosen partner not only aligns with OSC’s values but also supports its continued independence and strong culture
  • Driving future growth opportunities by identifying a partner offering significant potential for additional upside, enabling the entire employee base to reinvest and benefit from future growth
  • Securing position in the marketplace and growth strategy within a rapidly consolidating industry

Chartwell was critical in the negotiation of the final purchase agreement, ensuring OSC’s interests were protected and aligned with its long-term goals as well as creating a meaningful opportunity for the ESOP participants to realize significant retirement assets.

“Chartwell’s expertise and guidance throughout this process was invaluable. Their strategic insights and ability to navigate complex negotiations allowed us to achieve our goals and secure a partner that aligns with our values. We couldn’t have asked for a better advisor in this critical moment for our company.”

– Ryan Diekow, CEO, Oxygen Service Company

About Oxygen Service Company

Based in St. Paul, Minnesota, Oxygen Service Company serves the needs of commercial and industrial users of traditional gas products. These products include oxygen, nitrogen, and argon in addition to many other gases, and are distributed throughout Minnesota and Wisconsin. Prior to the sale, the Company was 100% owned by an S Corporation ESOP with approximately 150 employee-owners.

Chartwell Contact

For additional information on this transaction, please contact Wil Becker or Will Rehnberg.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce that Hypertherm recently raised new capital through an expanded senior credit facility and a new issuance under its senior secured note arrangement (collectively, the “Facilities”) to partially finance a minority equity investment in a European-domiciled target.

Through the business combination, Hypertherm will expand its leading position in advanced technologies, grow its share of wallet along the metal fabrication value chain, and acquire complementary sets of technologies that are used across similar end industries with high cross-selling potential.

The senior credit facility, agented by Bank of America, was amended and extended to allow for the cross-border investment to be made and provided Hypertherm with significant operating flexibility on highly favorable terms. Additionally, the quantum of committed capital under the new senior credit facility was increased, and PNC and Wells Fargo were brought into the syndicate to provide Hypertherm with incremental capital for future investments and additional organic and inorganic growth initiatives.

Separately, Hypertherm amended its current senior secured note agreement provided by Prudential, Barings, and MetLife and utilized proceeds from a shelf note facility to partially finance the initial minority equity investment.

Chartwell acted as exclusive financial advisor to Hypertherm on all aspects of the capital raise and amendment processes including conducting a targeted debt capital market outreach process to syndicate Hypertherm’s senior credit facility and coordinating ratings approval for the newly issued, investment-grade-rated shelf note facility.

About Hypertherm

Founded in 1968, and headquartered in Hanover, New Hampshire, Hypertherm engineers and manufactures industry-leading plasma, waterjet, and laser cutting systems for a variety of end markets including energy, agriculture, shipbuilding, automotive, and construction. Hypertherm’s cutting systems are supported by proprietary consumables, software, and automation technologies. Over its history, Hypertherm has expanded its product offerings and grown into a globally-recognized name in metal-cutting with 2,000+ “associates” operating across five (5) continents and sixty (60) countries.

“Hypertherm thanks Chartwell for continuing to be a trusted financial advisor. Chartwell exhibited a professional and efficient approach over the duration of the amendment and extension processes. Throughout each step of the transaction, Chartwell provided valuable advice that allowed our management team to make highly informed decisions and assist with our next phase of strategic growth and expansion. Our partnership with Chartwell has been instrumental to our success and we look forward to the future”

– John Scott, CFO, Hypertherm

“Chartwell was pleased to assist Hypertherm with this first phase of a transformative multi-step investment process. The initial minority equity investment signals the desire to fortify its position as the preeminent player in the plasma, waterjet, and laser cutting segments. Given Chartwell’s deep relationship with Hypertherm – having previously arranged and placed senior credit and senior secured note facilities – Chartwell confidently executed upon a transaction that best achieved Hypertherm’s goals and objectives. Further, the amended senior credit facility and senior secured note arrangements afford the utmost flexibility at advantageous terms. It was our pleasure to work with a strong management team throughout this process and achieve their strategic objectives. We look forward to continuing to be a resource to Hypertherm as it executes upon its future growth plans.”

– Ryan Rassin, Managing Director, Chartwell

Chartwell Contact

For additional information on this transaction, please contact Will Bloom or Ryan Rassin.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

Chartwell is pleased to announce that Shawmut Design and Construction, a leading $2 billion national construction management firm, has acquired First Finish, a premier full-service hotel renovation contractor. This partnership combines Shawmut’s expertise in large, complex hotel projects with First Finish’s specialization in fast-track, luxury interiors. The acquisition of First Finish creates a unique all-in-one solution for clients, increasing scale and driving growth in Shawmut’s hospitality business.

Throughout the transaction, Shawmut and First Finish demonstrated a strong cultural fit, a shared passion for understanding client needs, and the vision and resources necessary to accelerate growth and create meaningful opportunities for both businesses.

First Finish will continue to pursue its own projects in addition to collaborative work with Shawmut. All First Finish employees will join Shawmut, a 100% employee-owned company. Chartwell was engaged to provide advisory services to Shawmut and its management team for the acquisition. Chartwell delivered diligence, valuation, and transaction structure insights, as well as strategic guidance, as Shawmut evaluated several aspects of the opportunity.

About Shawmut

Shawmut is a $2 billion national construction management firm with a reputation for completing extremely complex and logistically challenging projects. As a 100% employee-owned company, Shawmut has created a culture of ownership, proactive solution-making, and forward-thinking. Over 80% of its business comes from repeat clients, with a strong focus on building lasting partnerships. Shawmut has 11 offices, including New York, Boston, Los Angeles, Miami, West Palm Beach, and Las Vegas.

About First Finish

First Finish is a national, full-service general contractor with over 25 years of experience specializing in high-quality, on-time hotel and hospitality renovations. With offices in Columbia, MD, Irvine, CA, and Fort Lauderdale, FL, First Finish has worked with over 300 hotels to transform more than 100,000 guest rooms across the country. Guided by the core principle, Think Beyond The Build, First Finish is dedicated to creating lasting partnerships through innovative, client-centered solutions that reflect its deep commitment to environmental and social responsibility. The First Finish culture celebrates creativity, collaboration, and community impact, values that drive its team to exceed expectations and set new industry standards.

Chartwell Contact

For additional information on this transaction, please contact Matt Clark or Austin Piech.

To learn more about Chartwell’s corporate finance capabilities, connect with Greg Fresh.

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