Anchor Peabody Advisory Services, LLC announced today that its client, Belvidere, Ill.-based Professional Handling and Distribution, Inc., has been acquired by a subsidiary of Gypsum Management Supply, Inc. The acquisition of PHD provides GMS with an increased presence in Chicago. Kevin O’Connor will continue to oversee the PHD operations. Anchor Peabody was the exclusive financial advisor to PHD.
“The GMS organization is a natural fit for us, and we are very excited to leverage what they bring to the table with our existing and future customers,” said O’Connor, a co-owner of PHD.
“This acquisition provided a very important liquidity event for co-owners Mr. Kurt Taylor and Mr. Paul Johnson, who wanted to re-invest in their framing and homebuilding businesses – Heritage Carpentry and Heritage Signature Homes, Inc., respectively. In addition, GMS provides the perfect environment for Mr. O’Connor and his team to thrive; we think they will accomplish a lot together,” said Jason Fraler, Managing Partner at Anchor Peabody. “This transaction monetized many years of hard work, expertise, and good decision making. We are pleased to have been able to assist the PHD shareholders in taking advantage of this opportunity.”
Source: Anchor Peabody