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"Promontory Point Capital's investment banking team managed the sale of Standard Equipment with outstanding professionalism. After spending 49 years with the Company, I needed trusted partners who understood the financial complexities of the business and respected the personal significance of this sale. PPC provided the guidance and support we needed at every step, ensuring a successful outcome and a smooth transition."



Jerry Donlon

President & Majority Owner

Standard Equipment Co.

Promontory Point Capital is excited to announce another one of our firm's recent client successes.

 

Standard Equipment Company (“SECO”) is a distributor, reseller, and servicer of utility and sewage equipment serving municipalities, contractors, and other businesses throughout Chicago and the surrounding region. Initially established in 1969 as a distributor of Elgin® street sweepers, the Company grew its offering to include Vactor® sewage trucks, Autocar® chassis, Environsight® sewer televising equipment, Ring-O-Matic® vacuum excavation products, and other industrial equipment brands. Beyond selling industrial equipment, Standard Equipment also generates revenue through industrial equipment leasing and an extensive aftermarket parts & service business to address varying customer needs.


As the Company's second-generation family ownership contemplated shareholder liquidity and transition goals, Promontory Point Capital was engaged to explore strategic alternatives for the business. PPC's engagement began with preparing the business for sale which included the creation of a comprehensive Memorandum and performing extensive research on acquirers that may be attracted to SECO's complete product & service offering. Given the Company's strong market presence, solid industry reputation, and diversified revenue stream, PPC attracted substantial interest from strategic acquirers and private equity buyers.


After soliciting Letters of Intent from multiple bidders for SECO, PPC recommended proceeding with an offer proposed by Federal Signal Corporation (NYSS: FSS), a leading global designer, manufacturer, and supplier of equipment and solutions that serve municipal, governmental, industrial, and commercial customers. PPC assisted Standard Equipment in negotiating a Letter of Intent, managed all due diligence activities, and helped the parties close the transaction. The transaction allowed Standard Equipment's shareholders to achieve their desired ownership liquidity objectives while aligning the business with a partner to support SECO's next phase of growth. The sale transaction was closed during the fourth quarter of 2024 representing another successful Done Deal for Promontory Point Capital. Read Press Release

Promontory Point Capital is a Milwaukee-based investment banking firm focused on the needs of Midwestern privately-held businesses. Since being formed in 2004, our firm has led over 175 client engagements including the evaluation of business sale and recapitalization options, the arrangement of debt and equity financing, and the planning and execution of growth strategies involving acquisitions, mergers, and joint ventures. Many inquiries to Promontory Point Capital include business objectives encompassing:


Ownership Planning, including Transition & Liquidity Goals: PPC is frequently introduced to business owners and/or senior management teams when shareholders are interested in learning about their options involving a potential sale of all or a portion of a business. We have arranged numerous transactions involving strategic partners, private equity firms, ESOPs, management buyouts, and other types of shareholder “recaps” including both minority and majority recapitalizations. 

 

Financing, Refinancing, & Debt Restructuring: PPC is oftentimes referred into situations where a business encounters a funding need that is beyond the comfort zone of a company's existing senior bank lender. PPC has arranged numerous transactions for companies involving senior bank debt, non-bank debt, subordinated debt, sale-leaseback financing, and other forms of institutional funding to support growth, acquisitions, shareholder redemptions, management buyouts, and other corporate initiatives.

 

Strategic Growth/M&A: Companies that have an interest in growing and expanding via acquisition or strategic joint venture are regularly referred to PPC given our firm's extensive corporate development experience.

 

We welcome your confidential inquiry and encourage you to visit our firm's website at www.promontorypointcapital.com for more information on our organization's capabilities and numerous other client successes.

PROMONTORY POINT CAPITAL
MILWAUKEE – (414) 225-0484

Chris Riegg

Partner

chris@promcp.com

Bill Penkwitz

Partner

bill@promcp.com

Mike Burmesch

Director

mike@promcp.com

Alex Penkwitz

Associate

alex@promcp.com

Edward Eisenhauer

Associate

edward@promcp.com

Eli Buczek

Analyst

eli@promcp.com

PROMONTORY POINT PARTNERS
CHICAGO – (312) 925-9972

Jeff Vogelsang

Partner

jeffv@prompoint.com

Mike Barto

Partner

mikeb@prompoint.com

Tim Wright

Senior Manager

timw@prompoint.com

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