PMCF Advises The Dale Prentice Company in the Sale of its Great Lakes Region To Ovation Holdings, a Warren Equity Partners Portfolio Company

PMCF Advisors, LLC (“PMCF”) is pleased to announce it served as the exclusive investment banker to The Dale Prentice Company (“Prentice” ) in the sale of its Great Lakes Region to Ovation Holdings (“Ovation”).

Established in 1926 and headquartered in Oak Park, Michigan, Prentice operates businesses, including VRC Protx and Beabout Brock Easley throughout the Great Lakes and Rocky Mountain regions. Prentice is an exclusive supplier and service partner of industrial and commercial flow-control products. This includes automation and process safety management, distributing and servicing valve automation products, electric heat tracing, overpressure protection, and snow/ice melt solutions. The Company’s technical service capabilities allow it to support customers with design, installation, commissioning, training, preventive maintenance service, and repair of critical service products through their life cycle.

Headquartered in Riverdale, Iowa, and backed by Warren Equity Partners, Ovation is the holding company of Allied Valve, Automation Service, Valve Sales, Inc., and Allied Instrumentation. Through its 15 locations, Ovation specializes in providing integrated distribution and maintenance, repair and operations services for the flow control and instrumentation markets.

The combination of Prentice’s Great Lakes Region and Ovation offers Prentice’s employees, customers, and manufacturing partners a unique opportunity to join a leading process and energy supplier with complementary technical services in the broader Great Lakes region.

Prentice selected PMCF to serve as its exclusive investment banker to manage the sale process involving its Great Lakes Region division. ”We have enjoyed a long-standing relationship with Joe Wagner and the PMCF team to assess various M&A opportunities. We determined this transaction was in the best interest of the long-term growth and success of the Company as we accelerate strategic initiatives with a strong partner. PMCF’s proven track record and expertise advising leading businesses within the flow control distribution sector proved to be the difference maker as we worked towards a closing of this transaction,” said Larry Prentice, President and shareholder of Prentice.

Joe Wagner, Managing Director of PMCF, added, “We enjoyed representing Prentice on this transaction. While carveout transactions like this one bring unique complexities to navigate, we worked collaboratively and constructively with Ovation and Warren Equity to quickly close this transaction. We expect it will be a win-win deal for all parties involved.”

The transaction closed in December 2023. Howard & Howard, LLP served as the Company’s legal counsel.

About PMCF

PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on manufacturing, distribution, plastics & packaging, business & technology services, healthcare, and consumer & retail industries.