MINNEAPOLIS – July 1, 2021 – Sunbelt Business Advisors President Chris Jones today announced that Sunbelt facilitated the sale of Eull’s Manufacturing Company, Inc. to Solheim Investment Partners, a Minneapolis-based private equity firm. Led by M&A Advisor Rick Elliott and M&A Associate Kirill Graminschi, the Sunbelt team initiated, structured, and negotiated the transaction on behalf of Eull’s Manufacturing.
Eull’s Manufacturing Company, Inc. of St. Michael, Minnesota, is the Midwest’s largest producer of concrete manhole rings and the exclusive Redi-Rock licensed producer for the state of Minnesota.
“Our advisors are smart, and they have the expertise and sophistication to get the best results for the buyers and sellers of companies in the $5 million to $100 million valuation range,” said Jones. “The Eull’s Manufacturing transaction is proof of that.”
“Eull’s Manufacturing has been in business since 1962—started in a family’s backyard. The company has most recently been owned and operated by second- and third-generation family members,” said Elliott. “After highly successful careers, the family members wanted to retire.”
“As we looked to transition Eull’s to new ownership, we wanted to find a buyer that matched our values,” said Joe Eull.
“With its Midwest roots and emphasis on integrity and teamwork, we believe Solheim will continue to build on Eull’s legacy of working hard, doing what is right, and being good to our co-workers, customers, and suppliers,” said Kevin Eull.
“Before retiring, the owners wanted to make sure the company transferred into good hands that could carry their legacy forward,” said Graminschi. “Consequently, the sellers are going to stay involved in the business for a while to ensure a smooth transition. The transaction is a great result for Eull’s shareholders as it provides the right buyer for this important liquidity event.”
“We’re pleased to be able to carry forward the Eull’s Manufacturing record of success and growth and also to continue the founders’ legacy,” said Dan Kubes, partner with Solheim Investment Partners.
“Sunbelt is proud to be the go-to advisor for deals like this one,” said Jones. “As Minnesota’s largest seller of companies, we are experts at interfacing with business owners, strategic buyers, financial buyers and capital providers as well as coordinating with attorneys, accounting firms, and other advisors on both sides of any transaction. We pride ourselves in being a welcoming, professional resource to all parties.”
ABOUT SUNBELT® – Sunbelt® is Minnesota’s largest seller of companies. Founded in 1978, Sunbelt now has 200 offices worldwide, helping people buy and sell businesses. The Sunbelt Business Advisors Minneapolis office is the largest office in the Sunbelt network with a staff of over 50 advisors, associates, analysts, and business development representatives. The firm provides services to business owners interested in selling their businesses, assistance with merger and acquisition activities, complimentary business value assessments, and advisement for business owners in understanding how to maximize their net proceeds when they exit. The firm provides business brokerage and Mergers & Acquisitions advisory services for companies with revenues from $500,000 to $100 million, as well as finance, exit planning, franchise sales, consulting, and business valuation services. More information is available at www.sunbeltmidwest.com.
