Waypoint Private Capital is pleased to announce the sale of Muskogee Metal Fabricators.
Waypoint Private Capital (“Waypoint”) served as sell side M&A advisor to Muskogee Metal Fabricators (“MMF”) on its successful sale.
Muskogee Metal Fabricators (“MMF”) was founded in 1926 and was a major heavy metal fabrication company until the COVID pandemic hit the company MMF hard in 2020/2021. A series of unexpected events then plagued the company. In August 2021, the company's owner, Fred Fleak, passed away and Erik Fleak, Fred’s son and successor, passed away in February 2022.
Fred’s widow Kim Fleak asked Daran Tucker, her financial advisor with Financial Planning Resources in Tulsa, for help in selling the business. Daran introduced Kim to Bruce Skaistis, Managing Director with Waypoint Private Capital. After discussing their options with Kim and Daran, Bruce agreed to help Kim sell the company.
To facilitate the sale, Bruce teamed with Phil Ashley of Corporate Realty Advisors to market and sell the business. After approaching local business owners to see if they were interested in buying MMF, Bruce initiated a national search for a buyer. The search found a strong buyer, who has requested anonymity.
After the sale, Kim Fleak told Bruce,
"I can’t thank you enough for all you did. Not only did the business sell much quicker than we expected, but also for more than we expected. This new business will be good for the Muskogee community.”
The acquiring company has announced that they plan to significantly increase MMF staffing over the next three years at an average salary of $52,000 – which is higher than the average salary for comparable jobs in Muskogee. They are also offering an attractive benefits package.
About Waypoint Private Capital
Waypoint Private Capital is an investment banking firm that advises the owners and management teams of middle-market companies through critical stages of their business' life cycle. Waypoint helps business owners sell companies, buy companies, raise equity and debt capital for growth and recapitalization, and plan for a successful exit from their business.
To learn more visit waypointprivatecapital.com or call us at 608.515.3354 or 918.633.2647 and speak with a Waypoint Private Capital expert.
© 2023 Waypoint Private Capital, Inc. All Rights Reserved.