Case Study
Case Study
GMP Co., Inc. sells to Klein Tools
Client need
General Machine Products Co., Inc. (GMP) is a third-generation company owned and operated by the Pfundt family since 1936. Known for its best-in-class cable lashing machines, cable blowing equipment and other specialty tools for the telecommunications, cable and utilities markets, GMP is recognized as a premier worldwide manufacturer of special cable placement tools and equipment. When the Pfundt family came to the realization that the business would not succeed to their fourth generation, it decided to plan for recapitalization efforts outside the family. The family chose Baker Tilly Capital as its investment bank to market the firm, having had prior experience and satisfaction with stock valuations Baker Tilly Capital performed for the family business over the years.
Baker Tilly Capital solution
The investment banking team at Baker Tilly Capital worked closely with the Pfundt family during the sale process. With a deep understanding of the manufacturing and distribution industry, our team provided comprehensive sell-side services, working with GMP to identify potential buyers that met the parameters set by the Pfundt family. From the onset, the Pfundt family was looking for a buyer that shared its vision for GMP’s future while preserving the company’s 80+ year legacy.
Results
A list was developed and evaluated of potential financial and industry buyers that met the needs of GMP and the Pfundt family. As the sale process unfolded, this list of buyers was narrowed to find the best match for the future of the company. GMP, along with its United Kingdom-based subsidiary, CBS Products Ltd., was acquired by Klein Tools, another respected family-run business. It is a true fit, as GMP and Klein Tools have much in common, including loyal customers, go-to-market strategies and reputations for high-quality products.
Baker Tilly Capital expertly guided us throughout the process and helped us achieve what we believe to be the best value outcome for the continuity of the business.William Pfundt, Managing Co-owner - GMP Co., Inc.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.
