CLEVELAND, Oct. 26, 2023 /PRNewswire/ -- Weinberg Capital Group ("WCG") is pleased to announce the successful exit of its interest in Cleveland, OH based Alex N. Sill Company ("Sill" or, the "Company"), a leading public insurance adjusting firm in North America with offices throughout the U.S. and Canada.
WCG acquired a controlling-interest in the Company from the Sill Family in 2018 due to its decades long history of serving clients, strong reputation, and tangible opportunities for growth. Over the last five years, Sill more than doubled its size by focusing on superior client service while executing key strategic initiatives including expanding its team and geographic footprint, implementing new marketing strategies, and upgrading business systems.
"Over the last several years we have developed and enhanced our industry leading service platform in order to provide our clients exceptional results to maximize recoveries for the most complicated and largest of insurance claims," said Michael Perlmuter, CEO of Sill. Mr. Perlmuter further commented, "All of us at Sill are appreciative of the ongoing support from WCG to achieve our success to date and positioning us for our next phase of growth."
John Herman, Managing Partner of WCG and Chairman of Sill, said, "I personally have a long history with this business, the Sill family, and the entire leadership team. It has been a pleasure working alongside this exceptional group of people to build something extraordinary." He further commented, "Sill is now positioned for its next phase of growth with a new strategic partner. We couldn't be happier for the business and the team."
Weinberg Capital Group was advised by American Discovery Capital and Benesch, Friedlander, Coplan & Aronoff on the transaction.
Weinberg Capital Group is a Cleveland, OH based private investment firm that invests in well-positioned middle market companies located throughout the U.S. with annual revenue from $10 to $100 million and EBITDA ranging from $2 to $10 million. The firm targets investments in manufacturing, business services, consumer products, and value-added distribution.
SOURCE: PR Newswire