EBIT ASSOCIATES ADVISED HAWK LABORATORIES, INC. AND ITS SUBSIDIARY BEAUTIFUL FINISHES, INC. ON ITS SALE TO KESTREL CAPITAL GROUP
CHICAGO – March 18, 2016 – EBIT Associates, a leading Illinois-registered, lower middle-market investment bank with several accredited association member firms, announced today that it advised Hawk Laboratories, Inc. and its subsidiary Beautiful Finishes, Inc. (“Hawk”) in its sale to an affiliate of Kestrel Capital Group (“Kestrel”), for an undisclosed amount in cash.
Headquartered in Wood Dale, Illinois, Hawk (www.hawklabs.com) is a leading supplier of bathtub, tile, countertop and kitchen cabinet refinishing paints and coatings used for residential, commercial and industrial painting applications worldwide. Beautiful Finishes (www.beautifulfinishes.com) offer bathtub, tile, cabinet and countertop refinishing services.
Kestrel Capital Group (KCG) (www.kestrelcg.com) is a Chicago based private investment firm with over 45 years of investing experience. KCG’s principals have completed hundreds of debt and equity financings for businesses across all stages of an enterprise’s life cycle. They prefer enterprises with an established or emerging leadership position whose products and services target growing end markets. KCG looks for businesses with EBITDA of $1.5 million or greater.
“We are pleased that Kestrel Capital Group, Bill Harlan and Steve Vivian, who have visionary leadership and caliber with seasoned management, will take our company to the next level,” said Pete Mosier III, owner of Hawk Laboratories, Inc. and Beautiful Finishes, Inc. “KCG did everything they said they would do to ensure that the process moved quickly and to help me achieve my goals as a seller.”
Bryan Weber, an experienced business leader with chemical products background, took over as CEO of the organization following closing of the transaction. Bryan commented “With an excellent reputation for high quality products, a well-recognized brand, a customer-focused team, and significant continued growth potential, this opportunity is an excellent fit for me and my long-term Partners at Kestrel Capital Group”.
Pete Mosier added, “We were very impressed by the work that EBIT Associates performed on our behalf. They ran an excellent transaction process while maintaining the highest standards throughout. From a process and valuation perspective, the firm’s expertise, guidance and support served our goals especially well.”
Todd Cushing, Principal of EBIT Associates, added, “It was a pleasure working with Pete Mosier, and the Hawk management team with their excellent niche products and services for their high quality leading supplier of bathtub, tile, countertop and kitchen cabinet refinishing paints and coatings.”