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July 31, 2006
New Haven, Connecticut – July 31, 2006 – Woodbridge, LLC. is pleased to announce the acquisition of Pennsylvania-based Strut Service Company, Inc. by NEFCO Corporation, a premier distributor of specialty products for electrical, mechanical and HVAC markets.
Woodbridge, LLC., a leading mergers and acquisitions firm operating in the U.S. and Europe, served as M&A advisor to NEFCO on the acquisition.
“Strut Service was exactly the type of high-quality company NEFCO was looking to acquire,” said Robert F. Murphy, Woodbridge’s managing director and dealmaker for the transaction.
After a nationwide marketing campaign conducted by Woodbridge that researched and targeted over 1,300 potential sellers which fit NEFCO’s basic acquisition criteria, NEFCO selected 28 companies to investigate further. “Woodbridge has uncovered a number of quality companies that fit our criteria and we look forward to completing additional acquisitions to fill out our geographical footprint on the East Coast,” said David Gelles, president of NEFCO.
Founded in 1981, NEFCO supplies a range of products, such as pipe support systems, strut, anchors, fasteners and tools, to industrial and construction markets. The company is seeking to acquire distributors of similar or complementary product lines based in the eastern part of the U.S.
Strut Service was established in 1973 and is one of the largest stocking strut distributors on the East Coast supplying electrical and specialty electrical construction contractors with a selection of more than 8,00 different SKU’s.
Woodbridge, LLC., a unique, marketing-driven M&A firm, was established in 1993 to provide a divestiture and acquisition advisory services to middle market companies.