LOS ANGELES--(BUSINESS WIRE)--American Discovery Capital announced today that it served as financial advisor to Borrmann Metal Center in its acquisition by Contractors Steel, part of Chicago-based UPG Enterprises LLC. Borrmann, based in Burbank and founded 101 years ago by George and Jane Borrmann, helped to pioneer metal warehousing, sales and distribution on the West Coast.
“This is a compelling transaction for both Borrmann and Contractors Steel. We were thrilled to be able to connect two such complementary companies to facilitate a smooth transaction from a regional family-owned business to a key part of the growing national footprint developed by UPG and Contractors Steel,” said Greg Range, Partner at American Discovery Capital, adding, “Combining Borrmann’s strength in California and Arizona in diverse products such as bar, sheet, rod and tube with Contractors Steel strength in structural products was an ideal fit. Working through the COVID disruption was facilitated by the continued strength of Borrmann’s customer base of manufacturers and the loyalty built up over the decades of providing world class service and delivery. We look forward to following the continued success of the combined business.”
"We are very pleased that this combination will enable us to provide our customers an expanded array of product, particularly in structural area, while maintaining the high level of service that has been Borrmann's trademark for our 100-year history," stated Borrmann co-Presidents Robert Wedeen and Rob Persson.
“You’re doing things the right way if you have been in business over 100 years,” said Paul Douglass, Co-Founder of UPG Enterprises LLC. “The family values that make up the backbone of Borrmann are a perfect fit for our partnership-based model at UPG.”
Jeffer Mangels Butler & Mitchell were the legal advisors to Borrmann. American Discovery Capital was the financial advisor to Borrmann in the transaction.
ABOUT AMERICAN DISCOVERY CAPITAL
American Discovery Capital (ADC) is an independent merchant banking firm focused on providing M&A and capital markets advice to leading publicly-traded and private companies seeking to achieve outstanding outcomes on transactions of critical importance, including sale transactions / change of control; debt and equity capital raising for corporate growth; financial restructuring / leveraged finance advisory; and special situations — including joint ventures / partnerships, activist campaigns, IPO advisory, and other unique situations. Many of the principals ran global businesses during their decades spent at leading investment banks.
ADC’s private equity fund, American Discovery Fund, invests equity capital alongside its clients to accelerate their growth initiatives. Its principal investing targets are high growth companies in business and IT services, enterprise software, healthcare services and IT, and FinTech. Learn more at americandiscoverycapital.com.
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