Miric Industries was acquired by Stanley Access Technologies
Transaction Description
Miric Industries is a market leader in the greater NYC metro area providing door service (repair and maintenance) and door installation to office, retail, and commercial buildings for over 40 years. Miric’s client list is a “who’s who” list of iconic buildings throughout Manhattan.
Transaction Details
Stanley Access Technologies
Farmington, CT
Acquired
Miric Industries
A door installation and maintenance provider
North Bergen, NJ
JW&Co advised Miric Industries
Transaction Overview
Jackim Woods worked with the owners of Miric Industries for two years building value and performing pre-transaction planning. In addition, JW&Co collaborated with the client’s wealth and tax advisors to ensure the after tax proceeds met the client’s retirement expectations.
Challenges
Because the buyer, Stanley Access Technologies, is a subsidiary of Fortune 100 Stanley Black & Decker (a publicly traded company), there was a rigorous due diligence process. Jackim Woods played a key role in managing the due diligence process.
Solutions
Jackim Woods holistic philosophy assisted this client for two years prior to going to market. Throughout the pre-transaction process Jackim Woods helped the client increase the value of Miric by 60%, as well as preparing for due diligence prior to creating a private auction and sourcing the buyer.
Summary
After two years of planning and value enhancement, this was a successful exit for a second generation owner.
