Citi Capital Strategies Advises Stewart Manufacturing, Inc. on Its Acquisition by Stremel Manufacturing, LLC.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Stewart Manufacturing, Inc., a precision machine supplier to aerospace & defense while maintaining a high competency in sheet metal fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , assembly and test, has been acquired by Stremel Manufacturing, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a provider of sheet metal and machined parts to manufacturers in the United States and abroad. Citi Capital Strategies, a division of Citigroup Global Markets Inc. and a leading investment bank serving privately held businesses, served as the exclusive financial advisor to Stewart Manufacturing, Inc. The terms of the transaction were not disclosed. "We are pleased to team our client with a quality buyer that will help Stewart Manufacturing propel its leadership position and tier 1 supply status in the aerospace and defense industry," said Greg A. Moore, Managing Director at Citi Capital Strategies. "Citi Capital Strategies' deep understanding of the complex issues surrounding closely held companies Closely held company A company who has a small group of controlling shareholders. In contrast, a widely-held firm has many shareholders. It is difficult or impossible to wage a proxy battle for any closely-held firm. , as well as our aerospace and defense industry expertise and our private equity relationships aided in completing this transaction." "This acquisition further demonstrates our commitment to deliver on the Company's strategy of focusing on our core aerospace and defense business and providing the best technology, precision machining solutions and support to our valued customers," said Patrick H. Stewart, Sr., President of Stewart Manufacturing, Inc. Bill Spell, President of Spell Capital Partners, LLC, added that Stewart Manufacturing, Inc. will be an excellent addition to Stremel Manufacturing's precision machining platform. Citi Capital Strategies is a leading investment bank dedicated to serving the needs of closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. and family owned businesses. Ranked as the Number One M&A advisor to private-company sellers in 2006 by Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings (based on number of U.S. transactions, up to $100 million deal value), Citi Capital Strategies specializes in mergers, acquisitions, recapitalizations, ESOPs, and capital solutions for private businesses. Citi Capital Strategies is a division of Citigroup Global Markets Inc. Member SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . For more information, visit our website at www.citigroupcapitalstrategies.com Stewart Manufacturing, Inc. is located in Phoenix, Arizona. Stremel Manufacturing, LLC, a portfolio company of Spell Capital Partners, LLC, is located in Minneapolis, Minnesota. |
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