M&A Deal Summary

Elkay Acquires Digney York Associates

On January 9, 2020, Elkay acquired construction company Digney York Associates from Merit Capital Partners

Acquisition Highlights
  • This is Elkay’s 1st transaction in the Construction sector.
  • This is Elkay’s 3rd transaction in the United States.
  • This is Elkay’s 1st transaction in Virginia.

M&A Deal Summary

Date 2020-01-09
Target Digney York Associates
Sector Construction
Buyer(s) Elkay
Sellers(s) Merit Capital Partners
Deal Type Add-on Acquisition

Target

Digney York Associates

Vienna, Virginia, United States
Digney York Associates LLC is a provider of interior renovation services to the luxury hospitality industry. Specializing in guest room renovations, the company offers services that span from pre-construction through the construction phase of renovations. Digney York Associates LLC was established in 1985 and is based in Vienna, Virginia.

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Buyer(S) 1

Buyer

Elkay

Downers Grove, Illinois, United States

Category Company
Founded 1920
Sector Consumer Products
Employees1,800
DESCRIPTION

Elkay is a manufacturer of kitchen and bath cabinetry. EWP is a renowned manufacturer with an iconic brand portfolio including Medallion, Design-Craft, Yorktowne, Schuler, Medallion at Menards, MasterCraft, and American Cabinetry Collection. Elkay Manufacturing was founded in 1920 and is based in Downers Grove, Illinois.


DEAL STATS #
Overall 4 of 4
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Virginia) 1 of 1
Country (United States) 3 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-09 Schloffer

Grosspetersdorf, Austria

Schloffer GmbH is a seating and décor company for restaurant franchises. Schloffer GmbH was founded in 1960 and is based in Grosspetersdorf, Austria.

Buy -

Seller(S) 1

SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 44 of 52
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 24 of 27
State (Virginia) 1 of 1
Country (United States) 44 of 51
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 Revision Military

Essex Junction, Vermont, United States

Revision Military develops and delivers purpose-built eye protection for military and tactical users worldwide. Revision Military was founded in 2001 and is based in Essex Junction, Vermont.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 RSA Engineered Products

Simi Valley, California, United States

RSA Engineered Products LLC designs and manufactures a broad array of highly-engineered airflow control systems for use in commercial and military aircraft. RSA Engineered Products LLC’s primary products include ducting, anti-icing and ozone products. The majority of RSA’s sales are comprised of proprietary part numbers exclusive to the Company. RSA sells to a broad customer base that spans a high number of both legacy and new aircraft platforms.

Sell -