Stevenson & Company completes the sale of Pasco Industries, Inc.
Result: Business Sold to Strategic Buyer
Industry: Manufacturing – Home Improvement – Paint Brush and Roller Company
Stevenson & Company recently completed the sale of Pasco Industries, Inc. to a paint sundry industry buyer. Our client is a leading niche manufacturer of paint brushes, paint rollers and trays, and other paint sundry products. The company looked to Stevenson for its experience and knowledge in the home improvement industry.
Pasco Industries is located in Gardena, CA. It has provided the West Coast painting market with superior products and service for over 50 years. It sells to a wide variety of commercial and residential customers through distributors and paint retail stores.
Stevenson cast a wide net of traditional industry firms, as well as non-paint manufacturers selling into similar trade channels. Stevenson also contacted a small group of select private equity firms with industry holdings. The owners ultimately decided to sell the business to a company in the paint sundry industry and a member of the existing sales team.
The successful sale of the business allowed family members to pursue other business interests and maintain ownership of the real estate held separately. The majority of employees have been retained and the business continues to manufacture quality paint sundry products out of a new facility in Southern California.
Buyer: Pro Paint Supply
Comments: Manufacturer of paintbrushes, rollers and painting equipment.
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!