P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Master Automatic Machine Company, Inc. (“Master”) in its sale to MacLean-Fogg Component Solutions, LLC, a division of the MacLean-Fogg family of companies (“MacLean-Fogg”).
Headquartered in Plymouth, Michigan, Master has established itself over more than 75 years in business as a premier supplier of precision machined components and assemblies to a diverse set of industry-leading OEM and Tier 1 automotive customers.
Master’s manufacturing capabilities, diverse material competencies, program management expertise, engineering talent, and commitment to quality contribute to its position as a trusted supplier of a broad range of highly critical transmission, powertrain, steering components, and other automotive applications. Master, a third-generation family-owned business, employs more than 250 team members across three manufacturing facilities.
MacLean-Fogg Company is a global enterprise with 26 international manufacturing facilities, annual sales in excess of $1 billion, and a worldwide workforce of more than 3,200 people. MacLean-Fogg is a privately held enterprise headquartered in Mundelein, Illinois, and comprised of two primary businesses, MacLean-Fogg Component Solutions and MacLean Power Systems. Post-closing, Master will continue to operate through a partnership with MacLean-Fogg’s Engineered Solutions Group within Component Solutions. Mark Evasic, an owner of Master Automatic, remarked, “The combination of Master and MacLean-Fogg’s Engineered Solutions businesses expands our capabilities and enhances customer support. We’re thrilled to have found a partner in MacLean-Fogg that shares our values and has the knowledge and resources to accelerate our growth trajectory.”
PMCF served as exclusive investment banker to the shareholders of Master, managing the entire transaction process. William Evasic, an owner of Master Automatic, added, “We worked with PMCF to prepare for and execute this transaction. PMCF played a critical role in every step of the transaction process from deal preparation through closing and was instrumental in reaching a successful outcome. PMCF’s leadership, creativity, and ability to navigate the added complexities of completing a transaction during a global pandemic allowed our team to accomplish an excellent outcome.”
The transaction closed in December 2020. Bodman PLC served as the legal advisor to the Company.
PMCF is a middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies. PMCF provides a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. The firm has dedicated professionals focused on plastics & packaging, business & technology services, automotive, distribution, transportation & logistics, aerospace & defense, medical technology, and consumer & retail industries. PMCF has offices in Chicago, Detroit, Denver, and globally through its ownership in Corporate Finance International™.
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