Diversified Industrials

On January 31, 2024, KeyBanc Capital Markets (KBCM) successfully advised Ward Manufacturing, LLC (Ward or the Company), a wholly owned subsidiary of Proterial, Ltd. (Proterial), on its sale to ASC Engineered Solutions, LLC (ASC), a portfolio company of Tailwind Capital (Tailwind). KBCM was chosen to serve as Exclusive Sell-Side Advisor based on its industry-leading Building Products and Diversified Industrials practices, proven M&A execution capabilities, and relevant carveout transaction experience.

Headquartered in Blossburg, Pennsylvania,, Ward is a leading manufacturer of piping components and systems used in project-critical industrial PVF, gas piping, and plumbing applications in commercial, residential, and utility markets. The company maintains a comprehensive portfolio of high-quality, “Made in America,” malleable and cast iron pipe fittings and pipe nipples in addition to its name brand WARDFlex® corrugated stainless steel tubing system. Selling primarily to blue-chip wholesalers, Ward boasts a coast-to-coast distribution network in North America, with four cutting-edge manufacturing facilities, six strategically located distribution centers, and more than 20 manufacturer representatives.

Proterial, Ltd. (f/k/a Hitachi Metals), based in Tokyo, Japan, is a manufacturer of advanced metal products, materials, and components primarily serving the automotive, energy, electrical, and aerospace sectors. Proterial was acquired in October 2022 by a consortium led by Bain Capital, LP.

Headquartered in Oak Brook, Illinois, ASC (f/k/a Anvil & Smith-Cooper International) is a complete solutions provider offering precision-engineered piping components for pipe joining systems, fire protection and fabrication, flow control, performance products, and support systems as well as ancillary field and design services.

Founded in 2003, Tailwind Capital is a private equity firm based in New York, New York City and focused on control investments in high-quality, middle market companies in large and growing end markets, including infrastructure services, supply chain, and IT services.

On October 23, 2023, KeyBanc Capital Markets (KBCM) successfully completed its M&A advisory mandate in support of Bradley Corporation (Bradley or the Company) on its sale to Watts Water Technologies, Inc. (Watts Water or Watts) for $303 million. KBCM was chosen to serve as Bradley’s Sell-Side Advisor based on its leading diversified industrials practice and proven M&A execution capabilities.

Bradley is a leading provider and manufacturer of commercial washroom and emergency safety products serving commercial and industrial end markets for more than 100 years. Headquartered in Menomonee Falls, Wisconsin, the company offers the industry’s most innovative and comprehensive product portfolio that includes plumbing fixtures, washroom accessories, and emergency safety products to a diverse customer base.

Watts Water is a global manufacturer headquartered in the United States that provides one of the broadest plumbing, heating, and water quality product lines in the world. Through its family of brands, Watts offers innovative plumbing, heating, and water quality solutions to control the efficiency, safety, and quality of water within commercial, residential, and industrial applications.

On February 17, 2022, KeyBanc Capital Markets (“KBCM") successfully completed its buy-side advisory mandate in support of MSD Private Capital Group (“MSD”) on its acquisition of East West Manufacturing, LLC (“East West” or the “Company”) from Emigrant Capital Corporation and Heritage Growth Partners LLC. KBCM served as Exclusive Buy-Side Advisor to MSD based on its industry- leading manufacturing practice, long-term relationship with East West and MSD and proven M&A execution capabilities.

Based in Atlanta, GA, and founded in 2001, East West is a leading, global end to end joint design manufacturer providing a comprehensive and integrated set of product realization capabilities, from design through distribution. The Company serves high growth, non-cyclical end markets, such as smart devices/IoT, automation/robotics, industrial technology, and medical/wellness.

MSD Partners was formed in 2009 and exclusively manages the assets of Michael S. Dell and his family. MSD Private Capital Group is the private equity arm of MSD Partners, L.P., focused on partnering with world-class management teams to build outstanding businesses and create long-term value for investors. MSD has a highly experienced senior investment team that has led 23 private equity investments representing approximately $4.6 billion of invested equity.

On February 17th, KeyBanc Capital Markets (“KBCM") successfully closed the syndication of $355 Million Senior Secured Credit Facilities for East West Manufacturing, LLC (“East West” or the “Company”). The facilities are comprised of a $40 million Revolving Credit Facility (the “Revolver”), a $275 million Senior Secured Term Loan Facility (the “Term Loan”), and a $40 million Delayed Draw Term Loan (the “DDTL”). Proceeds from the facilities were used to support MSD Pr ivate Capital Group’s (“MSD” or the “Sponsor”) acquisition of the Company, support ongoing working capital needs and future growth, and pay transaction related fees and expenses. KBCM served as Left Lead Arranger, Joint Bookrunner, and Administrative Agent on the Company’s inaugural syndicated transaction. KBCM was chosen to lead as a result of deep industry expertise, strong relationship with the Sponsor and Debt Capital Markets capabilities. KBCM also served as Exclusive Buy-Side Advisor to MSD.

Based in Atlanta, GA, and founded in 2001, East West is a leading, global end to end joint design manufacturer providing a comprehensive and integrated set of product realization capabilities, from design through distribution. The Company serves high growth, non-cyclical end markets, such as smart devices/IoT, automation/robotics, industrial technology, and medical/wellness.

MSD Partners was formed in 2009 and exclusively manages the assets of Michael S. Dell and his family. MSD Private Capital Group is the private equity arm of MSD Partners, L.P., focused on partnering with world-class management teams to build outstanding businesses and create long-term value for investors. MSD has a highly experienced senior investment team that has led 23 private equity investments representing approximately $4.6 billion of invested equity.