Capital Advisors Inc., Oakbrook Terrace, IL, www.prairiecap.com) was responsible for representing Kriz-Davis Co. and its shareholders in the sale of the company to Border States Industries, Inc. , Fargo, ND.. The transaction was publicly announced on July 26, 2017 and closed on August 28, 2017. Terms of the transaction were not disclosed.
Timothy Berry, Kriz-Davis’ President and CEO, said in a press release, “Prairie’s team provided invaluable guidance in what was a challenging and complex transaction. Their understanding of our industry in addition to the complexities of ESOP ownership, led to an outstanding result for Kriz-Davis and its employee shareholders. Not only did the Prairie team give us senior-level personal attention but we also developed invaluable relationships throughout the process.”
Prairie Capital Advisors acted as the exclusive financial advisor to Kriz-Davis, working closely with its shareholders and management team throughout the sale process. A company press release said Prairie’s deal team was integrally involved in each step of the process and guided Kriz-Davis and the management team to a successful transaction outcome. “We continue to see strong interest in high-quality, value-added electrical products distributors in North America as larger industry participants seek acquisitions to enhance revenue growth,” said Timothy Witt, a managing director at Prairie, in the release. “Kriz-Davis extends our successful track record of M&A advisory to the sector, and we are excited to watch its partnership develop with Border States.”
Prairie Capital Advisors also represented Van Meter, Cedar Rapids, IA, in its 2015 acquisition of Miller Electric Supply.