P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to APCO, Inc. (“APCO” or the “Company”) in its sale to Winsupply Inc. (“Winsupply”).
Headquartered in Lansing, Michigan and founded over 65 years ago, APCO is a leading distributor of HVAC and multi-family apartment maintenance products primarily in the Midwest. APCO operates through two brands, including APCO Supply, a broad-line distributor of multi-family and apartment products, and Michigan Temperature Supply, a distributor of HVAC equipment and related parts.
Winsupply is a Dayton, Ohio-based supplier of residential and commercial construction and industrial supplies and materials. It has grown to become one of the largest distributors in the United States, with nearly 600 locations in 45 states. Collectively, the Winsupply family of companies includes Win-branded locations, Noland Company, Carr Supply, Security Plumbing & Heating Supply, Wyatt Irrigation and Electrical Sales. Mike Nussdorfer, a shareholder and President of APCO, remarked, “My brother Jeff and I are pleased that we found a partner in Winsupply that shares the same vision for growth and culture that we do. We look forward to working with the Win team to grow our national presence and further penetrate the Midwest market.”
PMCF advised the shareholders of APCO through the entire transaction process. Mr. Nussdorfer noted “PMCF was instrumental in securing this outcome for us – they understood our objectives and worked to make sure they were achieved. Further, their industry expertise and ability to properly communicate our story to the market was impressive. We couldn’t be happier with this outcome.”
The transaction closed in November 2017. PMCF served as APCO’s exclusive investment banker. Fahey Schultz Burzych Rhodes PLC served as the legal advisor to APCO.