P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as exclusive financial advisor to the shareholders of privately owned NLB Corporation, in its sale to Interpump Group S.p.A (CMP:IP). Based in Wixom, Michigan, NLB Corporation is engaged in the manufacture, sale, rental, and service of high pressure water jet cleaning equipment in various industries throughout the world. The law firm of Finkel, Whitefield, Selik, Ferrara & Feldman, P.C. served as legal advisor to the shareholders of NLB Corporation and Latham & Watkins served as legal advisor to Interpump. The transaction closed January 31, 2007.
PMCF’s Industrials team worked closely with NLB management to evaluate, manage and successfully complete this highly strategic transaction. Through the cross selling of products and enhanced product offering in each company’s distribution network, the sale further strengthens NLB’s global leadership in the field of high pressure pumps and systems. “We believe combining forces with Interpump will provide NLB the necessary resources to become the dominant player in high pressure waterjet cleaning equipment across the globe” stated Forrest Shook, President and Owner of NLB Corporation.
About NLB Corporation
NLB Corporation was formed in 1971 and is the largest supplier of high pressure water jet cleaning equipment in the United States to contract cleaning equipment users, surface preparation, automotive industry cleaning, and custom engineered / designed cleaning systems. The Company is also engaged in the manufacture, sale and servicing of parts and accessories related to the operation and maintenance of high pressure water jet cleaning equipment, and leasing of high pressure water jet cleaning equipment. The Company has an extensive network of distributors, serving customers worldwide.
About Interpump Group S.p.A
Generating approximately €367 million in annual revenue, Interpump Group S.p.A. is a worldwide leader in the manufacture and sale of high pressure plunger pumps and their components and professional high-pressure washers. The Company operates in two segments, Hydraulic Sector and Industrial Sector. The Hydraulic Sector segment provides oil pressure power take-offs and hydraulic pumps used to equip industrial vehicles. The Industrial Sector segment offers high and very high-pressure plunger pumps, which are used for a range of industrial applications. Interpump Group S.p.A. was founded in 1977 and is based in S. Ilario d’Enza, Italy.