Management Buyout Results in Team Owning Majority Stake
Overview
VMC purchased from Aeroflex, Inc., was a leader in providing vibration isolation and seismic control solutions to the industrial, military and construction markets
Purchased for $8.6 million in 2005 by Management and CCCM
Management maintained control of Board and majority ownership with a $1 million investment alongside $3 million mezzanine investment
Results
Revitalized management team and workforce produced dramatic improvements
Sales and ebitda grew more than 250% within three years
Acquired competitor Amber Booth in 2007
Management recapitalized the mezzanine debt and equity with Fifth-Third Bancorp in 2009 at an 8x markup in equity value
VMC makes strategic acquisitions in 2015; AAC of New York and Dynamic Control Labs in Reno, NV establishing leadership in online sales and testing and certification for compliance with the International Building Code
$32 million minority recapitalization completed in May 2015 in conjunction with new partner Seacoast Capital and East West Bank refinancing the Senior Debt
