Bridgepoint Advises Nebraska-Based Manufacturer, Garner Industries, on Its Sale to ShoreView Industries
August 21, 2023 – Bridgepoint Investment Banking’s (“Bridgepoint”) Industrials team acted as the exclusive financial advisor to Garner Industries (“Garner”) on its sale to ShoreView Industries (“ShoreView”.)
Garner, headquartered in Lincoln, NE, is an industry-leading manufacturer and supplier of level-measurement sensors, as well as a custom injection molder with a range of fabrication capabilities. Bridgepoint’s industry expertise and competitive process yielded the perfect partner in Minneapolis-based private equity group ShoreView. The partnership will allow Garner to enter the next phase of its growth strategy through both new product development and penetration into new, high-value end markets.
“Phil Mullin, the majority owner and leader of Garner for more than 50 years, was looking to retire but wanted to leave the company in excellent hands,” commented Scott McLain, President of Garner. “We found the right partner working with the Bridgepoint team who brought us ShoreView.”
“The Bridgepoint team’s expertise and professionalism were invaluable throughout the process, and their industry knowledge and strong relationships brought us to this successful outcome. Bridgepoint’s efforts on behalf of Garner and our stakeholders found us the right partner to drive our continued growth,” continued Scott McLain.
“We’re excited for Phil, Scott, and the entire Garner team. As a firm that passionately serves family- and founder-owned businesses, it was a privilege to bring together two strong Midwest companies in this transaction. We’re confident the Garner management team, employees, and the broader Lincoln community will find a successful partner in ShoreView and we’re excited for their future together,” added Kate Loughran, Managing Director and Co-Head of Industrials at Bridgepoint.
“Bridgepoint was pleased to have been selected by the owners of Garner Industries to assist them in locating a capital provider to help them achieve the next level of their corporate growth strategy. With alignment from beginning to end, Bridgepoint was able to “provide value” to one of Nebraska’s premier manufacturers. The owners of Garner achieved their goals and objectives on behalf of their great employees, excellent worldwide customer base, and the Lincoln community that they have proudly served for more than 70 years,” added General Counsel and Managing Director, Wm. Lee Merritt.
About Bridgepoint Investment Banking
Bridgepoint Investment Banking, a division of Bridgepoint Holdings NE, LLC, is a market-leading boutique investment bank. The Bridgepoint team, through their broker dealer relationship with M&A Securities Group, Inc., an unaffiliated entity, serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors including transportation, industrials, healthcare, business and IT services, technology and consumer and retail. Learn more about Bridgepoint at bridgepointib.com.
About Garner Industries
Garner Industries is an ISO 9001:2008 certified company established in 1953 and headquartered in a 75,000 square foot manufacturing facility in Lincoln, Nebraska, USA. The company provides high-quality, cost-effective precision tooling, mold building, custom machining and plastic injection molding for a diverse variety of industries including electronics, telecommunications, medical, automotive, defense and aerospace. The company is also leading worldwide manufacturer of the BinMaster® brand of bulk solid and liquid bin level indicators for the feed & grain, food, plastics, pulp & paper, power, mining, and concrete industries.