About The Company:
Founded in 1959 and based in Pittsburgh, Pennsylvania, Tri-Arc is a leading manufacturer specializing in the production of rolling ladder stands and work platforms tailored to various industries, including oil and gas, manufacturing, aviation, and aerospace. The Company addresses customer climbing and access challenges out of its 325,000 square foot facility by utilizing three distinct product strategies: standard, configurable, and custom engineered products. In 1992, Mel Solomon and Fred Schwartz acquired Tri-Arc offering 36 unique model types of passive fall protection and access products including a variety of mobile ladders, work platforms, step stools, fixed ladders, stairways, configurable ladder and platform systems, modular stair systems, gates and guardrails. With their expertise in fabricating reliable and durable equipment, Tri-Arc has established itself as a trusted provider in the market, offering comprehensive solutions that prioritize workplace safety, code compliance, productivity, and overall operational efficiency.
Sell-Side Mandate:
Tri-Arc reached out to The Lenox Group to undergo a sale process to ensure the continuity of the Tri-Arc brand while creating liquidity for the owners. The Lenox Group organized a targeted pool of prospective acquirers, produced an in-depth financial model, created marketing materials, orchestrated management presentations, managed the due diligence process, and negotiated final terms with the buyer.
Outcome:
The Lenox Group successfully advised Tri-Arc on its sale to Dry Fly Capital, a Littleton, Colorado based private equity group. Dry Fly helped bring in a new CEO to steward the business going forward.