Transactions
Mayline Group
Reinventing a contract furniture manufacturer through niche acquisitions ...
“Mertz has been responsive to our varying needs for over four years. The people at Mertz are knowledgeable, professional and dedicated.”
– Paul Simons, President, Mayline Group
“As Chairman of Mayline and its holding company, I rely on Mertz to introduce us to the best possible acquisitions in the marketplace. Mertz delivers.”
– Chuck Barancik, Chairman, Northbrook Management Corp.
Situation
The Mayline Group was reinventing itself as a contract furniture manufacturer. Once the leading manufacturer of drafting tables, Mayline sought growth opportunities in other office furniture niches. Supported by its holding company, Northbrook Management Corp., Mayline needed successful acquisitions to help grow the business.
Scope of Mertz’s role
Mertz advised Mayline in designing an acquisition search program, developing a customized database, initiating discussions with potential sellers, evaluating proposals and participating in negotiations.
The process began by identifying the field of possible strategic fits with Mayline’s long-term direction. After systematically contacting each potential fit, Mertz uncovered many interested seller prospects and made introductions to Mayline. Conference calls and financial analysis set the stage for price discussions.
After four successful acquisitions, Mayline’s product lines now include sit-to-stand adjustable computer workstations, mailroom furniture and systems, large format and specialty filing systems, local area network (LAN) support furniture and cabinets and technical drawing/drafting furniture.
Mertz’s value add
As an intermediary, Mertz was able to open the door with prospects that might not otherwise wish to discuss selling. Mertz was also a sounding board for Mayline as analyses and negotiations took place.