Acoustical Sheetmetal Company
Criteria
Revenue
UndisclosedPurpose
Shareholder Liquidity & Succession PlanningIndustry/Sector
Industrial ManufacturingTransaction Dynamics
Majority Sale by Family/FounderLocation
Virginia Beach, VAAcoustical Sheetmetal Company (ASC) provides environmental and sound attenuating steel and aluminum enclosures for on-site power generation and ancillary equipment. The products range from less expensive skintight factory-like packaging to heavy-duty, sound-attenuating, industrial, environment-ready units and fueling systems. ASC also manufactures weatherproof enclosures that serve as control rooms, housing generators, pumps, compressors, switchgear, HVAC equipment, and other specialty products. When ASC was acquired in January 2019, the company operated from a 5 1⁄2 acre campus with approximately 100,000 sq. ft. of manufacturing space. Today, ASC owns and operates from two campuses totaling close to 200,000 sq. ft. of manufacturing space on 25+ acres. The facilities are designed with the express purpose of assembling power generation projects and storing power generation equipment.
How we helped
The company was founded in 1994 by Dieter Steinhoff, after moving to the US from Hamburg, Germany. He and his wife Petra Snowden owned and directed the company for almost 25 years. Dieter and Petra wished to retire but were extremely concerned about confidentiality so opted not to run a formal sale process. As they were most concerned about their customers, vendors, and employee base, they quietly networked through a trusted advisor, searching for a buyer that wished to acquire ASC with no intention of reselling the company. RTK Family Capital and Young Capital Partners ultimately teamed with Margaret Shaia to acquire the company, with Margaret serving as the new CEO to replace Dieter.
The acquisition was conservatively capitalized with equity provided by the three acquirers and supported by our financing partner, Atlantic Union Bank. The company is well-positioned to serve its existing customer base and to grow as demand for its products continues to rise.
Past Investments
Investment Criteria
We are a family-owned, private investment firm seeking partnerships with middle- market companies in industries where our expertise enhances value, sustains growth, and supports company management.
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