Since 1958 Anderson Pump and Process has earned a strong reputation in the Midwest as a value-added distributor of industrial pumps and related products sold to a variety of end commercial and industrial fluid process markets. Anderson Pump engaged Promontory to explore growth and acquisition alternatives for their business as the Company sought to increase their geographic presence outside of their Milwaukee-area headquarters, grow their distribution network, and expand their product offering. Promontory approached a number of acquisition candidates on behalf of their client with a strategic focus on expanding Anderson’s strong reputation serving customers requiring fluid process solutions, technical engineering support, and related equipment. Promontory identified suburban Chicago-based Mid-States Engineering & Sales as a strategic acquisition candidate and assisted Anderson Pump in acquiring this business. Beyond negotiating the deal’s economic terms and conditions for Anderson, Promontory managed the entire financial due diligence and legal process through the successful closing of the transaction. The Company anticipates exploring several other acquisition targets identified by Promontory.
By Christopher Riegg
Christopher Riegg, CFA, CPA is the Founding Partner of Promontory Strategy Group (PSG), providing strategic and financial advisory support to privately held and family-owned businesses. He also co-leads Promontory Point Capital (PPC), the investment banking firm he co-founded in 2004, and is the creator of RieggInsights.com, a platform focused on strategic growth, value creation, and successful transaction outcomes.
