D.A. Davidson & Co. announced today that it has served as financial adviser to Maverick Environmental Equipment, LLC (“Maverick”) on its sale to Grand Equipment Company, LLC (“Grand”), a portfolio company of Cognitive Capital Partners, LLC (“Cognitive”). Headquartered in Alma, Michigan, Maverick is a leading regional dealer and distributor of critical infrastructure and environmental equipment, parts and service.
Founded in 2016, Maverick offers a comprehensive portfolio of infrastructure and environmental equipment solutions, including new and used equipment sales, rental equipment, parts and service. Maverick is well positioned in key geographic markets and has established relationships with leading OEMs, allowing it to serve a diverse base of over 1,000 customers across the aggregate processing, infrastructure, forestry and recycling end markets.
“Our business has experienced tremendous growth during our first seven years, directly attributable to our top of line OEMs and our incredible team of employees. The quality of our brands, along with the people we have supporting them, will continue to be imperative to our continued success. Partnership with Grand Equipment Company unlocks incredible strategic value. This partnership not only improves our footprint, offerings and service, but lays the groundwork for continued success in the equipment industry,” said Tim Smith, Charlie Stahl and John O’Neill, co-founders of Maverick.
“We appreciated the opportunity to work with Maverick and its shareholders. The Company has established a market leading position in a short period of time and will continue its growth alongside the Grand Equipment platform. We can’t wait to see what their combined future brings,” said Eric Stetler, Managing Director in D.A. Davidson’s Diversified Industrials Investment Banking Group.
Grand’s acquisition of Maverick will be complementary to its existing portfolio of heavy construction equipment, extend its network of trained service technicians and significantly expand Grand’s parts offerings. Maverick will provide access to new territories, OEMs and long-standing customer relationships within high growth end markets. Maverick will benefit from new OEM relationships, the addition of construction equipment to its current portfolio of infrastructure and environmental equipment and the ability to leverage Grand’s proven rental model to build a dedicated rental fleet.
“We couldn’t be more excited to start our partnership with Maverick,” said Billy Smith, Partner at Cognitive. “Tim Smith, Charlie Stahl and John O’Neill have done a tremendous job building Maverick from the ground up and the strategic partnership with Grand will help elevate both businesses to the next level.”
Jeff Grasman, Chief Executive Officer of Grand, added, “We are thrilled to partner with the Maverick team. Maverick is a highly recognized leader in the aggregate processing space and the combination of the two companies is a powerful step in the right direction as we continue to expand our geographic footprint, equipment offerings and service coverage. We see an incredible opportunity to better serve both our customers.”
The transaction represents another successful closing by D.A. Davidson’s Diversified Industrials Investment Banking Group. Over the past 18 months, Davidson’s Diversified Industrials Group has completed over 15 M&A transactions representing more than $2.2 billion in value.
D.A. Davidson’s Investment Banking Division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,575 employees and offices in 30 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.
For more information, visit dadavidson.com.
Deal Team Contacts
Eric Stetler, Managing Director | Chicago | [email protected]
Nick Ramtin, Managing Director, Financial Sponsors Group | Chicago | [email protected]
Dylan Fodel, Vice President | Denver | [email protected]