Harvey & Company Exits Mesker Openings Group
Harvey & Company Completes Successful Exit from Mesker via Sale by IGI
Harvey & Company initiated and participated in the recapitalization of Mesker Door and its related entities to create a platform for growth in the commercial door, frame and hardware market. In partnership with a Philadelphia-based private equity firm, a transaction was structured that allowed the owners to obtain significant liquidity, while providing the growth capital necessary to accelerate the company’s growth plans. During the hold Mesker completed multiple acquisitions, which have further strengthened its footprint and market share in Florida and the Western United States.
Inverness Graham Completes the Sale of Mesker Openings Group
Philadelphia, PA, December 22, 2016 – Inverness Graham, a private investment firm based in suburban Philadelphia, is pleased to announce the sale of Mesker Openings Group (“Mesker”). Based in Huntsville, Alabama, Mesker offers a diversified product portfolio of hollow metal and wood doors and the associated hardware for commercial and institutional properties. Inverness Graham acquired Mesker in November 2013 as a result of a proactive search in the commercial building products market. The sale of Mesker marks the fourth exit in the last 12 months for Inverness Graham.
“One of the key differentiators at Mesker was their quick-ship and custom capabilities that allowed them to deliver custom doors and hardware in days instead of weeks,” stated Michael Morrissey, Managing Principal of Inverness Graham. “We were confident the Company could accelerate share gain in the market by extending their quick-ship capabilities nationally. In partnership with the management team, we successfully completed two strategic add-on acquisitions, rolled out the quick-ship strategy, invested significantly in plant operations and relocated hardware fulfillment. The result was a doubling of EBITDA and 70% topline growth in just three years.”
Derek Maczka, Chief Executive Officer of Mesker, added “We shared a strategic vision with Inverness Graham to become the market leader in custom, high quality, quick-ship solutions for doors, frames & hardware nationally. Inverness Graham’s operating resources supported our team as we executed the strategy and achieved our goals. We are excited about the next steps with our new partners and continued growth at Mesker.”