Marriott & Co. Serves as Exclusive Financial Advisor to Ullman Devices Corp.
Richmond, Va. — Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to Ullman Devices Corporation (“Ullman” or the “Company”) in its sale to Castleray, LLC (“Castleray”), a diversified holding company with offices in Chicago and Dallas. Castleray partnered with management to acquire the Ridgefield, CT-based company. The transaction closed on January 26, 2017. Terms of the transaction were not disclosed.
Established in 1935, Ullman is a leading manufacturer of specialty hand tools that are primarily sold to the automotive repair and industrial repair industries. The Company is best known as the world’s leading producer of inspection mirrors and magnetic pick-up tools. Today, Ullman offers a robust portfolio of high-quality products, including rotating magnetic work lights, flexible spring claws, socket holders and many others under the Ullman brand as well as on a private label basis.
“I am excited about the transaction with Castleray and believe they will continue to build upon the 81-year successful track record of Ullman for many more years to come,” said President of Ullman, Ed Coleman, “I would also like to thank the Marriott & Co. team for managing such a professional process to ensure that a great outcome was achieved for everyone associated with Ullman, including shareholders, employees and customers.”
Justin Marriott, Managing Director of Marriott & Co., added, “We are honored that Ullman provided us with the opportunity to advise the Company on such an important transaction. We thoroughly enjoyed working with both the Ullman and Castleray teams to bring this to a successful closing.”
About Ullman Devices Corp.:
Headquartered in Ridgefield, Connecticut, Ullman Devices Corporation is a leading manufacturer of specialty hand tools that are primarily sold to end users in the automotive repair and industrial repair industries. Originally founded in 1935, Ullman is best known as being the world’s leading producer of inspection mirrors and magnetic pick-up tools that are typically used by automotive repair technicians, electricians, plumbers and many other professional mechanics. The Company has significantly broadened its product line to include a wide variety of specialty hand tools, including rotating magnetic work lights, flexible spring claws, socket holders, and many others. Over the past 81 years, Ullman has provided the highest quality products and superior customer service to its customers, creating long-term, recurring relationships with some of the most recognizable industrial distribution and branded tool companies in the world. For more information, visit www.ullman-devices.com.
About Castleray, LLC:
Castleray is a diversified holding company that combines capital, innovation and exceptional employees to exceed customer expectations and deliver superior results. Castleray owns and manages businesses and real estate throughout the U.S. in a variety of industries, including consumer, industrial, food products, law enforcement and healthcare. The company designs, engineers and sells thousands of exceptional products worldwide across its ten facilities in the U.S. Castleray is passionate about its brands and exceeding expectations everyday for the customers that use its products. For more information, please visit www.castleray.com.
About Marriott & Co.:
Headquartered in Richmond, Virginia, Marriott & Co. (www.marriott-co.com) is a premier, independent boutique investment banking firm focused on advising privately-held companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.
Contact: Justin Marriott
Phone: (804) 344-0952