The Forbes M+A Group is pleased to announce the successful sale of its client, Nexus Corporation, to Gibraltar Industries, Inc. (Nasdaq: ROCK) for $25 million in cash. The Forbes M+A Group’s Managing Directors, Jim Johnston and Tom Schmidt, served as the exclusive financial counsel to Nexus for this transaction.
“Nexus operates in a unique sector with tremendous opportunities for future growth,” said Jim Johnston. “We initially helped the ownership assess the company’s value in the marketplace. Then we ran a process that resulted in multiiple offers and ultimately a transaction very satisfying to our client. Gibraltar is well positioned to lead the Nexus team forward to even greater success.”
With its nearly 25 years serving the agriculture industry, Colorado-based Nexus has built a strong brand by serving the institutional and commercial markets with steel and aluminum greenhouse structures. The U.S. greenhouse structures market is estimated at approximately $250 million and is expected to grow at a 10% rate in 2017, driven by increased demand for organic locally grown food as well as demands from the commercial and institutional markets.
“The Forbes M+A Group’s transaction experience was essential in helping us plan for and execute a successful exit,” explained Cheryl Longtin Porter, retiring Nexus shareholder. “Jim and Tom’s sincere guidance and hands-on approach throughout the process made Forbes a valued partner for us. We are positive about the future of Nexus under the Gibraltar umbrella and expect Nexus to expand its offering and services in the market.”
Gibraltar Industries is a leading manufacturer and distributor of building products for industrial, infrastructure, residential, renewable energy and conservation markets. Following its 2015 acquisition of RBI, a leading supplier of greenhouses and solar racking in the US marketplace, Gibraltar is now clearly positioned as the leader in commercial greenhouse manufacturing. Gibraltar serves customers worldwide through facilities in the United States, Canada, Germany, China, and Japan.
The Forbes M+A Group specializes in providing senior-level advice to lower and middle market businesses. “Nexus has a valuable brand in a growing market,” said Tom Schmidt, Managing Director at The Forbes M+A Group. “With the acquisition of Nexus, Gibraltar gains a fantastic combination of engineering design expertise, selling capacity and market leverage. Helping our clients maximize sale opportunities like this is extremely satisfying. We are very pleased with the outcome.”
About The Forbes M+A Group
The Forbes M+A Group is an award-winning Denver, CO-based mergers and acquisitions advisory firm. The firm serves buyers or sellers in middle-market M&A transactions. It applies meticulous attention to detail in helping business owners develop and execute M&A strategy, acquire companies and partner with investor groups for growth, and maximize value in an eventual exit. Senior advisors at The Forbes M+A Group have more than 150 years of combined experience in transactions across a wide variety of industries. For more information on the company, please visit: www.forbesma.com or phone 303-770-6017.
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Information contained in this news release, other than historical information, contains forward-looking statements and is subject to a number of risk factors, uncertainties, and assumptions. Risk factors that could affect these statements include, but are not limited to, the following: the availability of raw materials and the effects of changing raw material prices on the Company’s results of operations; energy prices and usage; changing demand for the Company’s products and services; changes in the liquidity of the capital and credit markets; risks associated with the integration and performance of acquisitions; and changes in interest and tax rates. In addition, such forward-looking statements could also be affected by general industry and market conditions, as well as general economic and political conditions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law or regulation.
Media Contact: Lisa Holmes +1 (303) 770-6017, lisa@ForbesMA.com