About The Company:
Founded in 1995 and based in Newnan, Georgia, Robert & Sons Aluminum Inc. is a manufacturer and distributor of aluminum sign blanks, prefinished aluminum sheets, channel letter coils, and customized shapes; specifically designed for the commercial and industrial settings. Robert & Sons, Inc. was in its third generation of ownership, being led by CEO Steve Hinely, the grandson of founder Robert F. Hinely Sr. With 52,000 square feet of manufacturing space and a 2,500 square foot office building, the Company’s manufacturing capabilities include shearing, slitting, cut-to-length sheeting, punching and die sets, and custom shapes and sizes. Other end uses of RSA products include mailbox parts, grill carts and cabinets, novelty license plates, telephone pole numbers, components for funeral caskets, awnings, ornaments, gas pump toppers, food truck parts, toolboxes, and golf cart accessories.
Sell-Side Mandate:
The Lenox Group was introduced to Robert & Sons Aluminum, Inc. by the family’s wealth advisor. Steve was at an inflection point where he wanted to continue working in the business but wanted a partner to help scale and bring in outside management. Lenox worked with the Company to analyze financial performance, develop marketing materials, create a list of potential investors, and market the transaction. Through Lenox’s auction process, the Hinely family was presented a variety of offers to partner with a private equity group in its next phase of growth. Lenox helped the Company organize and administer management presentations, strategically negotiate with groups invited to final bids, select a winning bidder, and complete the due diligence process.
Outcome:
The Lenox Group successfully assisted Robert & Sons Aluminum, Inc. on its sale to Dry Fly Capital, a Littleton, Colorado based private equity group. UMB and La Plata Capital provided financing to support the transaction. Dry Fly helped to supplement the management team, which allowed Steve to step into a sales and growth focused role. The Hinely family rolled equity in the transaction alongside Dry Fly, as well.