Carleton McKenna Bolsters Economic Expansion with Canton-Based Companies
During the first half of 2023, Carleton McKenna spent significant time in the city serving as home to the Pro Football Hall of Fame: Canton, OH. Carleton McKenna closed three transactions with headquarters in Canton, OH over a six-month period. Canton is an up-and-coming industrial hub in the state of Ohio with notable manufacturing and services businesses. With heavy ties to the manufacturing, automotive and business services sectors, it’s no surprise that market activity across this growing, Stark County city has been steady. Multiples have remained steady amongst the middle market, with buy-in for larger industry players looking to expand their geographic footprint and broaden the scope of their industrial product offerings.
As a Northeast Ohio-based investment bank, we are excited to share in the accomplishments of these Ohio companies and look forward to continuing to support the growth of Ohio’s economy and beyond. See representative Canton transactions outlined below.
Having closed in February 2023, Precision Component Industries, LLC (“PCI”), was acquired by Ohio Gratings, Inc. PCI operates a full-service manufacturing enterprise in West Canton, specializing in high precision low volume, complex configuration, traditional and exotic material components. Canton-based Ohio Gratings, Inc. brings extensive market intelligence, engineering strength and the ability to grow PCI into a leading solutions provider for automotive, aerospace, defense, energy and industrial sectors.
Millman Surveying, LLC, is a leading provider of commercial land surveying services across the United States. The North Canton-based company was acquired by CBRE in May 2023, providing CBRE with the opportunity to supply clients with the highest standard of surveying available in the industry.
Commercial Fluid Power, LLC (“CFP”) was acquired by National Tube Supply in July of 2023. As a fully integrated supplier providing finished machining, warehousing, repair and distribution services for specialty tubing and bar products related to fluid power application, Canton-headquartered CFP offers National Tube Supply with the opportunity to grow the business’ market position, expand its national footprint, and increase value-added service capabilities offer to customers.