Green Bay, WI, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Mechanical Incorporated (Mechanical), a mechanical contractor based in Tomahawk, Wisconsin, has been acquired by Green Bay-based Tweet/Garot Mechanical (Tweet/Garot). CLA’s investment banking team served as the exclusive financial advisor to Mechanical Incorporated on the transaction, which closed on July 31, 2020. Price and terms were not disclosed.
Mechanical is a design-build mechanical contractor that specializes in metal fabrication, piping systems, and HVAC projects for industrial and commercial applications. The company has a vertically integrated model that consists of design, build, installation, and service. They have provided services for over 35 years throughout Wisconsin, Michigan, and Minnesota, as well as project work across the United States.
Founded over 125 years ago, Tweet/Garot is a mechanical contracting and engineering firm that specializes in process piping, HVAC, mechanical engineering, building automation systems, sheet metal and plate fabrication, industrial ventilation, food processing equipment, and mechanical service. Led by CEO Christopher Howald, Tweet/Garot employs approximately 800 workers in Wisconsin.
“The team at Mechanical Incorporated is thrilled about being acquired by the Tweet/Garot organization,” stated Mike Merryfield, one of Mechanical’s former owners. “The technological advancements Tweet/Garot has made, along with the added services and labor force, will create a strong mechanical contractor presence in this part of the state.”
Mechanical’s facility in Tomahawk will remain open. Former owners Merryfield and Brian Smith will lead the day-to-day operations with the existing workforce. Former owner Rick Larson retired prior to the acquisition.
Legal counsel for Mechanical was provided by Stewart Etten of Ruder Ware, while CLA’s office in Wausau, Wisconsin, provided the tax advisory and transaction support to Mechanical.
“Mike and Brian quickly became comfortable with our team and the proposed marketing process to sell the business,” said Tom Giesen, the managing principal in CLA’s Wausau office. “In addition to the transaction assistance, CLA will provide post-closing accounting support and investment advisory, truly showcasing our seamless service capabilities to our clients.”
Dave Pieton, managing director in CLA’s investment banking practice, added, “The COVID-19 outbreak certainly created obstacles. We were able to navigate those obstacles and keep the process advancing despite the pandemic. The transaction kept progressing with both Mechanical and Tweet/Garot recognizing the opportunity to build a quality provider of process piping, sheet metal, plumbing, HVAC, and mechanical services in Wisconsin.”
CLA investment banking professionals provide sophisticated corporate finance, advisory and investment banking services to middle-market businesses and owners. Services include mergers, acquisitions, and other transaction-related advisory services.
Securities products, merger and acquisition services, and wealth advisory services are provided by CliftonLarsonAllen Wealth Advisors LLC, a federally registered investment advisor and member FINRA, SIPC.
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