Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Snappy Co. (Snappy), a portfolio company of Blue Wolf Capital Partners, to M&M Manufacturing, a subsidiary of MiTek Industries, which is owned by Berkshire Hathaway (NYSE:BRK.A). BGL’s Industrials and Building Products team served as the exclusive financial advisor to Snappy in the transaction.
Snappy is a leading branded manufacturer and supplier of galvanized pipe, duct, and fittings for the residential HVAC market. For more than 60 years, the company has been a trusted resource to contractors and distributors who rely on Snappy’s product quality, consistency, and availability. Snappy’s history of innovation, brand recognition, quality reputation, and service differentiation afford it a dominant market share in its core Midwestern and Northeastern regions. Snappy operates production facilities in Minnesota and New York.
Snappy’s extensive product range and manufacturing expertise are highly complementary to M&M Manufacturing, which supplies metal products into the air distribution and ventilation markets. With the acquisition, M&M will grow its manufacturing footprint to eight locations and plans to expand Snappy’s manufacturing capabilities and operating infrastructure.
Christopher Thomas, CEO of Snappy, commented, “BGL did an excellent job understanding our business, providing guidance and review of the various offers received, and ultimately delivering a strong partner in M&M, MiTek, and Berkshire Hathaway. The transaction is a win-win for our customers, employees, vendors, and shareholders.”