LUTZ BUSINESS INSIGHTS
LUTZ M&A ADVISES MIDWEST SCAFFOLD SERVICE ON ITS SALE TO SUNBELT RENTALS
BILL KENEDY, LUTZ CONSULTING AND M&A SHAREHOLDER
Lutz M&A announced that it served as exclusive financial advisor to Midwest Scaffold Service (“MWSS” or the “Company”), in connection with its acquisition by Sunbelt Rentals, a wholly owned subsidiary of Ashtead Group (LSE:AHT). Based in Omaha, Nebraska, MWSS rents, constructs and dismantles a fleet of scaffolding and related equipment including sectional, systems and swing stage scaffold, plastic enclosures and trash chutes. In addition to its Omaha headquarters MWSS has offices in Des Moines, Iowa, and Denver and Colorado Springs, Colorado. Ashtead Group is an international equipment rental company headquartered in London. Sunbelt Rentals, the second largest equipment rental company in the U.S., is the largest of Ashtead’s three operating subsidiaries. Sunbelt’s acquisition of MWSS closed in September 2019.
Midwest Scaffold Service was founded in 2002 by Company President Tim Weber, who had extensive industry experience prior to founding MWSS. Over the years Mr. Weber and MWSS’ reputation grew in the Omaha market eventually leading to it becoming the leading scaffold rental Company in the area. Further, opportunities arose in 2007, 2011, and 2012 to open branches in Denver, Colorado Springs and Des Moines, respectively. Mr. Weber will remain with Sunbelt in a consulting role for one year following the transaction. However, Mr. Weber’s son, Rusty Weber, will continue under Sunbelt’s ownership in his current role as head of the Omaha operations.
Mr. Weber stated, “MWSS’s new ownership under Sunbelt is an ideal scenario for the Company and our employees. Their financial capacity will allow us to expand our rental fleet to further serve our existing markets.” On working with Lutz M&A, Mr. Weber said, “Lutz represented MWSS very well and brought multiple options to the table, allowing us to evaluate the best new owner for our Company.”
Commenting for Lutz M&A, Bill Kenedy added, “We appreciated the opportunity to work with Tim and MWSS on this transaction. Sunbelt made perfect sense as a buyer with their strategic interest in developing a scaffold presence across the Midwest. We are happy of the outcome for Tim and his Company.”
About Lutz M&A, LLC: Lutz M&A is a Nebraska-based mergers and acquisitions advisory firm, serving lower middle-market businesses in the Midwest across a range of industries. Lutz M&A is committed to providing its clients with a comprehensive, skilled and professional marketing process not typically available to smaller market companies. For more information, visit www.lutz.us.
About Ashtead Group: Ashtead is an international equipment rental company with national networks in the US and the UK and a small presence in Canada. It rents a full range of construction and industrial equipment across a wide variety of applications to a diverse customer base. For more information, visit www.ashtead-group.com.
ACQUIRED BY EVANSTON PARTNERS.
Lutz M&A was the exclusive financial advisor to Heavy Duty Specialists.
ACQUIRED BY WAR HORSE GAMING, A DIVISION OF HO-CHUNK.
Lutz M&A was the exclusive financial advisor to Divots DeVent Center.
ACQUIRED BY CONSONUS HEALTHCARE.
Lutz M&A was the exclusive financial advisor to Community Pharmacy Services.
PARTIAL SALE TO EMPLOYEE STOCK OWNERSHIP PLAN (ESOP).
Lutz M&A was the exclusive financial advisor to Structural Component Systems.
Lutz M&A was the exclusive financial advisor to Wings America Limited Partnership.
Lutz M&A was the exclusive financial advisor to Reinke Manufacturing.
Lutz M&A was the exclusive financial advisor to Midwest Scaffold Service.
Lutz M&A was the exclusive financial advisor to The Walling Company
Acquired by Platform Capital.
Lutz M&A served as the exclusive financial advisor to Perrin Manufacturing.
Acquired by Christensen Farms.
Lutz M&A served as the exclusive financial advisor to SmithCo Manufacturing Inc.
Acquired by Casey's General Stores.
Lutz M&A served as the exclusive financial advisor to Fantasy's, Inc.
Acquired by Columbia Capital.
Lutz M&A served as the exclusive financial advisor to eX² Technology.
Acquired by Claritas, Inc.
Lutz M&A acted as the sell-side advisor to AcquireWeb
ACQUIRED BY PLATFORM CAPITAL.
Lutz M&A was the exclusive financial advisor to C&W
ACQUIRED BY EVOLVE CAPITAL.
Lutz M&A was the exclusive financial advisor to Hands of Heartland
ACQUIRED BY GREAT RANGE CAPITAL.
LUTZ M&A WAS THE EXCLUSIVE FINANCIAL ADVISOR TO LABOR SOURCE LLC
Acquired by SUN CAPITAL PARTNERS, INC.
Lutz M&A was the exclusive financial advisor to CCW, LLC
ACQUIRED BY MCCARTHY CAPITAL.
Lutz M&A was the exclusive financial advisor to Triage Staffing
ACQUIRED BY TRIMARK USA LLC
Lutz M&A was the exclusive financial advisor to Hockenbergs
Acquired by Help/Systems, LLC
Lutz M&A acted as the sell-side advisor to Linoma Software
Lutz M&A was the exclusive financial advisor to Midwest Door & Hardware
Lutz M&A was the exclusive sell-side advisor to NIFCO Mechanical
Lutz M&A was the exclusive financial advisor to Providers Plus
ABOUT THE AUTHOR
BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER
Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.
AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
- American Institute of Certified Public Accountants, Member
- Nebraska Society of Certified Public Accountants, Member
- Certified Public Accountant
- Accredited in Business Valuation
- Certified in Financial Forensic
- Certified Exit Planning Advisor
- BSBA in Accounting, St. John’s University, Collegeville, MN
- Construction Financial Management Association, Past Treasurer, Board Member
- A Time to Heal (non-profit focused on cancer patients), Past Board Member
- EBITDA Valuation Multiples and How It's Calculated
- Net Working Capital Calculation Dilemma + Customer Deposits/Deferred Revenue
- 2021 - Is This the Year to Sell Your Business?
- Am I Ready to Sell My Business?
- Lutz M&A Advises Wings on its Acquisition by Eagle's Landing
- Selling Your Business? The Financial Information Buyers Want to See
- Can My Business Run Without Me?
- Finding the True Value of Your Business
- How Does the Business Sale Process Work?
- Understanding the Tax Implications of a Business Sale
- The M&A Client Experience
- Lutz M&A Advises Midwest Scaffold Service on its Sale to Sunbelt Rentals
- 5 Key Purchase Agreement Considerations
- Net Working Capital: What is it and How is it Used?
- Issues During the Due Diligence Process in M&A Transactions
- Lutz M&A Advises Fantasy's, Inc. on its Acquisition by Casey's General Stores
- Primary Benefits of Selling Your Company to an ESOP
- Is An Employee Stock Option Plan Right for Your Business?
- Lutz M&A Advises C&W Transportation on its Sale to Platform Capital
- Our Services, Our People, and Our Results
- Lutz M&A Advises Hands of Heartland on its Recent Investment by Evolve Capital
- Lutz M&A Advises Labor Source on its Recapitalization by Great Range Capital
- Overcoming Obstacles in Business Transition Planning
- Understanding Net Working Capital in Business Transactions
- How to Increase the Value of Your Business
- When is the Right Time to Exit My Business?
- Lutz M&A Advises Triage Staffing on Recapitalization
- Lutz M&A Advises Hockenbergs on Recent Sale to Trimark USA LLC
- Lutz M&A Advises Focus Respiratory on its Recent Buyout by Valley Healthcare Group
- Is Your Small Business at Risk of Fraud?
- Lutz M&A Advises CCW, LLC on its Recent Buyout
- Lutz M&A Advises NIFCO Mechanical Systems on Recent Sale
- Lutz M&A Advises Midwest Door & Hardware on Recent Sale
- Why is Forensic Accounting Needed?
SIGN UP FOR OUR NEWSLETTERS!
We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.