ACME Constructors Acquires Ogden Brothers, LLC

The deal transforms OBC into an employee-owned ESOP, expands ACME presence in Florida

Industry: Construction

Location: Fort Myers, FL

The DVS Group Role: Buyside Advisory

The DVS Group is pleased to announce that ACME Constructors (ACME), advised by Kevin Lindsey and Duncan Groff of The DVS Group (DVS), has acquired Ogden Brothers Construction, LLC (OBC). The deal transforms OBC from a privately held company into an employee-owned ESOP.

The deal provides ACME geographical, business line, and end market diversification. The acquisition, while a great business fit, is also an ideal employee and culture fit, positively impacting hundreds of employees.

DJ Simmons, CEO of ACME, commented: “I’m excited to have acquired Ogden-it aligns so well with ACME and our culture. This was our first acquisition with significant complexity to it. Kevin Lindsey’s knowledge and background helped us understand what we could achieve. Once we made the choice to move forward with Ogden, Duncan Groff’s skills with details and numbers truly supported me over the past year. He was an extension of ACME, working as our CFO for virtually the entire duration of this negotiation.”

Owners Rob Ogden, Tom Ogden, and Charlie Villasante are excited for OBC to join the ACME portfolio and to provide employee ownership opportunities through a strong, established ESOP. Rob Ogden characterized the deal as a “perfect fit for our employees to be part of an ESOP with such good people; the opportunity felt like a ‘God thing’”.

Lindsey and Simmons are both members of Vistage, which Lindsey credits for positively impacting the successful execution of the deal:

“The Vistage community is unmatched when it comes to business mentorship. You are surrounded by other CEO’s who work in different industries, but you are all tackling the same problems. It has been great to see DJ lean into his Vistage resources and connections to help him successfully navigate so many important nuances of the acquisition process for ACME’s first significant deal.  It definitely helped us help ACME.”

The Deal: The transaction closed on Tuesday, September 20th, 2022.

Universal, Inc.

Location: Saint Louis, Missouri

Industry: Manufacturing & Distribution- Specialty Chemicals

DVS Role: Buy-Side Advisory to Corporate Executive

 

The Buyer: Mr. Patrick Quinn was most recently the COO for Major Brands, the largest distributor of alcoholic beverages in the state of Missouri. During his tenure Patrick enabled the company to double revenue at increased EBITDA margins while also modernizing systems. Following his resignation from Major Brands, Patrick sought to build his own holdings with the help of DVS.The Seller: Universal, Inc.

 

The Seller: Universal, Inc. has been blending the finest chemical specialties since 1978. An investment in a variety of in-house support facilities ensures great quality control within their products. A superior chemical research staff is continuously striving to meet its customers’ unique chemical needs and Universal’s sales force, made up of the most knowledgeable in the industry, allowing them to achieve great success in providing customers with a wide range of solutions for their specialty chemical challenges.

 

The Close: Universal’s two owners had different timetables for exit and sought a buyer who could accommodate their plans. Patrick’s experience in distribution made him an ideal buyer from a succession standpoint. DVS was able to structure a transaction that allowed the sellers to achieve their objectives while also leaving ample capacity for the business to self-fund its anticipated growth under Patrick’s ownership.

Watts Up™

Location: Merriam, Kansas

Industry: Distribution: Light Bulbs and Lighting Supplies

DVS Role: Buy-Side Advisory to Corporate Executive

 

The Buyer: Mr. Andre Smith has recently left a large telecommunications company and a leadership role that spanned the product lifecycle from ideation to post-sales support, in functional areas including product development, business development, consumer marketing, customer experience, merger integration, strategic alliances, field sales operations and customer care. Mr. Smith’s objective was to fuel his passion for leadership and business-building and was seeking a company positioned for top-line and bottom-line growth. His extensive financial and operational knowledge and experience in operating organizations will be essential in building a foundation for continued and future growth.

 

The Seller: Watts Up™ has been in business in the Kansas City Metro area for over 23 years and serves as the areas number one source for any kind of bulb or lighting need. The company also sells ballast, H.I.D, decorative fixtures, replacement glass, projection bulbs and stage lighting.

 

The Close: The owners of Watts Up™ had reached the end of their 10 year plan of ownership and were ready to sell. After receiving a letter from DVS, they were introduced to Andre as a candidate with the energy and skills to manage the company for many years to come. Given the opportunity to grow the company rapidly through MBE status under Andre’s ownership, ensuring adequate working capital in the company early on was a point of great focus. DVS engineered a deal structure that gave Andre ample capital reserves for growth while also providing a clear path for the sellers to be repaid on an accelerated basis.