Major Industries Inc. sells to Kingspan Light + Air
Learn how Baker Tilly Capital worked with Major Industries Inc. to find a buyer committed to its ongoing success allowing the president to retire.
Client need
Major Industries, Inc. (Major) was founded in 1980 and bought by Wayne and Susie Toenjes in 1993. Major is an industry-leading manufacturer of high-quality, custom daylighting solutions for commercial buildings. The company’s proprietary design automation allows for participation in design-build projects with early design concepts at minimal cost. Through its commitment to developing reliable, advanced daylighting systems, Major offers customers value-added consulting services throughout all phases of the project life cycle. Major’s superior customer service focus further enhances its strategic value within the marketplace, and promotes respected, long-term industry partnerships and customer relationships.
Wayne had always been hands-on in managing the business, but a few years ago he began to step away to allow the leadership team to transition into day-to-day management in preparation for his retirement. After working with Baker Tilly US principal Bruce Hutler on a valuation analysis of the business, Wayne decided it was time to engage Baker Tilly Capital, LLC (Baker Tilly Capital) to find a buyer committed to the ongoing success of Major and its employees, allowing him to retire.
Baker Tilly Capital solution
Baker Tilly Capital found Kingspan Light + Air (KLA), a leading provider of daylighting products, which was actively acquiring similar companies across the country.
Results
Wayne found the right partner in KLA and the transaction was closed in June 2021. Through this transaction, KLA will allow Major to continue to operate as a stand-alone entity while providing new resources and opportunities to Major’s employees, enabling the business to continue to grow.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.